Peloton Interactive (NASDAQ:PTON) Price Target Raised to $7.00

Peloton Interactive (NASDAQ:PTON) had its price target lifted by research analysts at JPMorgan Chase & Co. from $5.00 to $7.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 3.45% from the stock’s previous close.

A number of other research firms also recently commented on PTON. Needham & Company LLC reaffirmed a “hold” rating on shares of Peloton Interactive in a report on Friday. JMP Securities restated a “market perform” rating on shares of Peloton Interactive in a research note on Thursday, October 3rd. Telsey Advisory Group increased their target price on Peloton Interactive from $5.00 to $9.00 and gave the stock a “market perform” rating in a report on Friday. Wolfe Research began coverage on Peloton Interactive in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Finally, Canaccord Genuity Group upped their price target on Peloton Interactive from $4.00 to $5.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Peloton Interactive presently has an average rating of “Hold” and an average price target of $6.05.

Peloton Interactive Stock Down 14.7 %

Shares of PTON opened at $7.25 on Friday. The stock’s 50-day moving average price is $5.11 and its 200 day moving average price is $4.07. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -6.78 and a beta of 1.92. Peloton Interactive has a 12-month low of $2.70 and a 12-month high of $8.92.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The firm had revenue of $586.00 million during the quarter, compared to analyst estimates of $572.97 million. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.44) EPS. Equities research analysts expect that Peloton Interactive will post -0.65 EPS for the current year.

Insiders Place Their Bets

In related news, insider Nick V. Caldwell purchased 31,337 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were acquired at an average cost of $4.25 per share, with a total value of $133,182.25. Following the completion of the purchase, the insider now directly owns 31,337 shares of the company’s stock, valued at $133,182.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Nick V. Caldwell acquired 31,337 shares of Peloton Interactive stock in a transaction on Friday, August 23rd. The shares were purchased at an average price of $4.25 per share, with a total value of $133,182.25. Following the acquisition, the insider now owns 31,337 shares in the company, valued at $133,182.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Elizabeth F. Coddington sold 56,084 shares of Peloton Interactive stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $4.50, for a total value of $252,378.00. Following the completion of the sale, the chief financial officer now directly owns 186,466 shares of the company’s stock, valued at $839,097. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 167,880 shares of company stock valued at $815,767. Insiders own 1.34% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PTON. Mercer Global Advisors Inc. ADV bought a new stake in shares of Peloton Interactive during the second quarter worth approximately $27,000. Skylands Capital LLC bought a new stake in shares of Peloton Interactive during the 2nd quarter valued at $30,000. Nisa Investment Advisors LLC lifted its stake in shares of Peloton Interactive by 1,836.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,490 shares of the company’s stock valued at $32,000 after purchasing an additional 9,000 shares during the period. Schneider Downs Wealth Management Advisors LP bought a new position in shares of Peloton Interactive in the 2nd quarter worth $35,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of Peloton Interactive during the second quarter worth $35,000. Institutional investors own 77.01% of the company’s stock.

Peloton Interactive Company Profile

Peloton Interactive, Inc operates interactive fitness platform in North America and internationally. The company offers connected fitness products with touchscreen that streams live and on-demand classes under the Peloton Bike, Peloton Bike+, Peloton Tread, Peloton Tread+, Peloton Guide, and Peloton Row names.