Peloton Interactive (NASDAQ:PTON) Stock Gets Price Target Reduction from Canaccord Genuity Group

Peloton Interactive (NASDAQ:PTON) had its price target cut by Canaccord Genuity Group from $10.00 to $8.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also issued reports about the stock. Telsey Advisory Group reaffirmed a “market perform” rating on shares of Peloton Interactive in a report on Monday, August 3rd. The Goldman Sachs Group lowered their target price on Peloton Interactive from $7.50 to $6.50 and set a “buy” rating for the company in a report on Monday, October 26th. Weiss Ratings upgraded Peloton Interactive from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 2nd. Morgan Stanley downgraded Peloton Interactive from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $5.00 to $4.50 in a research note on Tuesday, September 8th. Finally, UBS Group lowered their target price on Peloton Interactive from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, September 8th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Peloton Interactive presently has an average rating of “Hold” and a consensus price target of $7.60.

Peloton Interactive Price Performance

Shares of Peloton Interactive stock opened at $5.12 on Friday. The company has a market capitalization of $2.25 billion, a PE ratio of 42.67, a price-to-earnings-growth ratio of 0.40 and a beta of 2.56. Peloton Interactive has a 52 week low of $3.65 and a 52 week high of $7.92. The stock’s fifty day moving average is $5.12 and its two-hundred day moving average is $5.24.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.11 by $0.02. Peloton Interactive had a net margin of 2.58% and a negative return on equity of 23.92%. The business had revenue of $607.70 million during the quarter, compared to analyst estimates of $596.60 million. During the same quarter in the previous year, the business posted $0.05 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year. As a group, research analysts anticipate that Peloton Interactive will post 0.31 earnings per share for the current year.

Insider Buying and Selling at Peloton Interactive

In related news, insider Dion C. Sanders sold 112,512 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $5.45, for a total transaction of $613,190.40. Following the completion of the sale, the insider directly owned 18,801 shares in the company, valued at approximately $102,465.45. This trade represents a 85.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Saqib Baig sold 10,000 shares of Peloton Interactive stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $5.45, for a total transaction of $54,500.00. Following the completion of the transaction, the chief accounting officer directly owned 257,729 shares in the company, valued at approximately $1,404,623.05. This trade represents a 3.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 217,712 shares of company stock valued at $1,177,289 over the last three months. 1.23% of the stock is currently owned by company insiders.

Institutional Trading of Peloton Interactive

A number of hedge funds have recently bought and sold shares of PTON. Ardmore Road Asset Management LP raised its position in shares of Peloton Interactive by 187.9% during the first quarter. Ardmore Road Asset Management LP now owns 1,500,000 shares of the company’s stock worth $6,435,000 after acquiring an additional 979,058 shares during the last quarter. Technology Crossover Management IX Ltd. bought a new stake in shares of Peloton Interactive during the second quarter worth approximately $21,727,601. Bastion Asset Management Inc. acquired a new position in Peloton Interactive in the first quarter valued at approximately $7,020,000. Kanen Wealth Management LLC bought a new position in Peloton Interactive in the first quarter valued at approximately $7,560,000. Finally, Altshuler Shaham Ltd acquired a new stake in Peloton Interactive during the 1st quarter worth $1,585,000. 77.01% of the stock is owned by institutional investors.

About Peloton Interactive

Peloton Interactive, Inc is a connected-fitness company that combines exercise equipment, digital content and subscription services. Its product portfolio includes the Peloton Bike, Bike+, Tread treadmill, Row rowing machine and related accessories, apparel and fitness products. The company’s equipment is designed to connect users with live and on-demand instructor-led workouts through integrated screens and digital platforms.

Peloton offers subscription memberships that provide access to classes in cycling, running, strength training, yoga, meditation, rowing and other fitness disciplines.