Peloton Interactive (NASDAQ:PTON) Stock Rating Lowered by Cowen

Cowen cut shares of Peloton Interactive (NASDAQ:PTONGet Rating) from an outperform rating to a market perform rating in a research report sent to investors on Monday, The Fly reports. Cowen currently has $12.00 target price on the stock, down from their prior target price of $14.00.

Several other research firms have also issued reports on PTON. Bank of America dropped their price objective on Peloton Interactive from $19.00 to $16.00 and set a buy rating for the company in a research note on Wednesday, November 2nd. Oppenheimer began coverage on Peloton Interactive in a research note on Wednesday, August 3rd. They set an outperform rating and a $20.00 price objective for the company. UBS Group dropped their price objective on Peloton Interactive from $13.00 to $8.00 and set a sell rating for the company in a research note on Friday, September 2nd. Canaccord Genuity Group lowered their target price on Peloton Interactive from $25.00 to $20.00 in a research note on Thursday, August 25th. Finally, Telsey Advisory Group lowered their target price on Peloton Interactive from $11.00 to $9.00 and set a market perform rating for the company in a research note on Friday, October 28th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $19.36.

Peloton Interactive Stock Up 3.9 %

Shares of PTON stock opened at $10.03 on Monday. Peloton Interactive has a one year low of $6.66 and a one year high of $47.75. The stock has a fifty day moving average price of $8.84 and a 200 day moving average price of $10.36. The company has a quick ratio of 1.40, a current ratio of 2.47 and a debt-to-equity ratio of 6.48.

Peloton Interactive (NASDAQ:PTONGet Rating) last released its quarterly earnings data on Thursday, August 25th. The company reported ($1.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.61). Peloton Interactive had a negative return on equity of 116.53% and a negative net margin of 83.97%. The company had revenue of $678.40 million for the quarter, compared to analyst estimates of $682.93 million. During the same quarter in the prior year, the company earned ($1.05) earnings per share. The business’s revenue was down 27.6% compared to the same quarter last year. Research analysts anticipate that Peloton Interactive will post -2.61 EPS for the current fiscal year.

Hedge Funds Weigh In On Peloton Interactive

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its holdings in Peloton Interactive by 9.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 44,787,453 shares of the company’s stock worth $411,149,000 after buying an additional 3,818,380 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Peloton Interactive by 3.4% during the first quarter. Vanguard Group Inc. now owns 25,768,977 shares of the company’s stock worth $680,816,000 after buying an additional 851,812 shares during the last quarter. Dragoneer Investment Group LLC boosted its holdings in Peloton Interactive by 5.5% during the third quarter. Dragoneer Investment Group LLC now owns 10,745,815 shares of the company’s stock worth $74,468,000 after buying an additional 557,300 shares during the last quarter. Capital World Investors boosted its holdings in Peloton Interactive by 16.2% during the first quarter. Capital World Investors now owns 10,124,402 shares of the company’s stock worth $267,487,000 after buying an additional 1,411,171 shares during the last quarter. Finally, Coatue Management LLC boosted its holdings in Peloton Interactive by 1,872.8% during the first quarter. Coatue Management LLC now owns 8,614,159 shares of the company’s stock worth $227,586,000 after buying an additional 8,177,503 shares during the last quarter. Institutional investors own 79.40% of the company’s stock.

About Peloton Interactive

(Get Rating)

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, and Peloton Tread+ names. It also provides connected fitness subscriptions for various household users, and access to various live and on-demand classes, as well as Peloton Digital app for connected fitness subscribers to provide access to its classes.

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