Brokerages Set Peloton Interactive, Inc. (NASDAQ:PTON) Price Target at $6.97

Peloton Interactive, Inc. (NASDAQ:PTON) has been assigned a consensus rating of “Hold” from the nineteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Sixteen investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $6.97.

A number of research firms have weighed in on PTON. BMO Capital Markets boosted their target price on shares of Peloton Interactive from $6.50 to $8.50 and gave the stock a “market perform” rating in a research report on Monday, November 4th. Sanford C. Bernstein increased their target price on Peloton Interactive from $4.25 to $6.50 and gave the company a “market perform” rating in a research note on Friday, November 1st. JMP Securities reaffirmed a “market perform” rating on shares of Peloton Interactive in a research report on Thursday, October 3rd. Needham & Company LLC reissued a “hold” rating on shares of Peloton Interactive in a research report on Friday, November 1st. Finally, Macquarie boosted their target price on shares of Peloton Interactive from $4.90 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st.

Peloton Interactive Stock Performance

Shares of NASDAQ PTON opened at $10.27 on Friday. The business’s 50-day simple moving average is $8.55 and its 200-day simple moving average is $5.59. Peloton Interactive has a 52 week low of $2.70 and a 52 week high of $10.90. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of -9.60 and a beta of 1.90.

Peloton Interactive (NASDAQ:PTON) last announced its earnings results 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 business had revenue of $586.00 million during the quarter, compared to analysts’ expectations of $572.97 million. During the same period in the prior year, the firm earned ($0.44) earnings per share. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, equities research analysts forecast that Peloton Interactive will post -0.38 earnings per share for the current year.

Insiders Place Their Bets

In other Peloton Interactive news, CEO Karen Boone sold 13,484 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $8.27, for a total value of $111,512.68. Following the transaction, the chief executive officer now owns 211,459 shares of the company’s stock, valued at approximately $1,748,765.93. The trade was a 5.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Saqib Baig sold 36,776 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $7.53, for a total value of $276,923.28. Following the completion of the sale, the chief accounting officer now owns 137,357 shares of the company’s stock, valued at approximately $1,034,298.21. This trade represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 430,539 shares of company stock valued at $3,260,596. 1.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Peloton Interactive

A number of large investors have recently modified their holdings of PTON. Connor Clark & Lunn Investment Management Ltd. bought a new position in Peloton Interactive in the 3rd quarter worth approximately $5,724,000. Gtcr LLC bought a new stake in shares of Peloton Interactive during the third quarter worth $65,520,000. Two Sigma Advisers LP raised its position in shares of Peloton Interactive by 2.9% during the third quarter. Two Sigma Advisers LP now owns 7,440,900 shares of the company’s stock worth $34,823,000 after acquiring an additional 206,500 shares during the last quarter. Select Equity Group L.P. acquired a new position in shares of Peloton Interactive during the second quarter valued at $1,832,000. Finally, Versor Investments LP bought a new position in Peloton Interactive in the third quarter valued at about $415,000. 77.01% of the stock is currently owned by institutional investors and hedge funds.

About Peloton Interactive

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.