Peloton Interactive (NASDAQ:PTON) Upgraded by Macquarie to “Outperform” Rating

Peloton Interactive (NASDAQ:PTON) was upgraded by analysts at Macquarie from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a $10.00 price objective on the stock. Macquarie’s target price suggests a potential upside of 50.60% from the company’s current price.

PTON has been the subject of several other reports. Canaccord Genuity Group raised Peloton Interactive from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Friday, March 14th. Truist Financial upgraded shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Monday, April 28th. Bank of America reduced their price target on shares of Peloton Interactive from $11.50 to $9.50 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Needham & Company LLC restated a “hold” rating on shares of Peloton Interactive in a research note on Friday. Finally, Telsey Advisory Group decreased their price target on Peloton Interactive from $11.00 to $9.00 and set a “market perform” rating on the stock in a research note on Monday, May 5th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $8.36.

Peloton Interactive Stock Up 7.8%

PTON stock opened at $6.64 on Tuesday. The company has a market cap of $2.59 billion, a price-to-earnings ratio of -8.62 and a beta of 2.25. The business has a 50 day moving average price of $6.20 and a two-hundred day moving average price of $7.82. Peloton Interactive has a twelve month low of $2.83 and a twelve month high of $10.90.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The business had revenue of $624.00 million for the quarter, compared to analysts’ expectations of $620.39 million. Peloton Interactive’s revenue for the quarter was down 13.1% on a year-over-year basis. During the same period last year, the business posted ($0.45) earnings per share. On average, equities research analysts anticipate that Peloton Interactive will post -0.36 EPS for the current fiscal year.

Insider Transactions at Peloton Interactive

In related news, insider Andrew S. Rendich sold 121,883 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $9.54, for a total value of $1,162,763.82. Following the completion of the transaction, the insider now directly owns 404,188 shares in the company, valued at $3,855,953.52. The trade was a 23.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nick V. Caldwell sold 68,727 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $6.59, for a total value of $452,910.93. Following the sale, the insider now directly owns 474,234 shares in the company, valued at $3,125,202.06. This trade represents a 12.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 674,338 shares of company stock valued at $5,522,838 in the last ninety days. 1.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Peloton Interactive

Several institutional investors have recently bought and sold shares of the business. R Squared Ltd purchased a new stake in Peloton Interactive during the fourth quarter valued at approximately $28,000. Russell Investments Group Ltd. increased its position in shares of Peloton Interactive by 969.6% during the 4th quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company’s stock valued at $35,000 after purchasing an additional 3,636 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Peloton Interactive during the 1st quarter valued at approximately $37,000. Nisa Investment Advisors LLC lifted its position in Peloton Interactive by 40.2% in the first quarter. Nisa Investment Advisors LLC now owns 6,503 shares of the company’s stock worth $41,000 after buying an additional 1,864 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Peloton Interactive by 1,082.5% during the first quarter. GAMMA Investing LLC now owns 8,159 shares of the company’s stock worth $52,000 after buying an additional 7,469 shares during the period. Institutional investors own 77.01% of the company’s stock.

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.