Peloton Interactive (NASDAQ:PTON) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Peloton Interactive (NASDAQ:PTON) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

Several other analysts also recently commented on PTON. Zacks Research downgraded shares of Peloton Interactive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Argus lowered shares of Peloton Interactive from a “buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Bank of America set a $9.00 price objective on shares of Peloton Interactive in a report on Friday, January 30th. JPMorgan Chase & Co. lowered their target price on shares of Peloton Interactive from $9.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, February 6th. Finally, Truist Financial cut their target price on Peloton Interactive from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, February 6th. Seven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Peloton Interactive currently has a consensus rating of “Hold” and a consensus price target of $8.42.

Peloton Interactive Price Performance

Shares of PTON stock opened at $4.00 on Friday. Peloton Interactive has a fifty-two week low of $3.65 and a fifty-two week high of $9.20. The stock’s 50-day moving average is $4.50 and its two-hundred day moving average is $6.20. The firm has a market cap of $1.70 billion, a P/E ratio of -30.77, a PEG ratio of 0.72 and a beta of 2.47.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings results on Thursday, February 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.02). During the same quarter last year, the business posted ($0.24) earnings per share. Peloton Interactive’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, research analysts expect that Peloton Interactive will post -0.36 EPS for the current year.

Insider Activity at Peloton Interactive

In other news, CAO Saqib Baig sold 30,918 shares of Peloton Interactive stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $4.14, for a total value of $128,000.52. Following the transaction, the chief accounting officer owned 219,781 shares of the company’s stock, valued at $909,893.34. This trade represents a 12.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Elizabeth F. Coddington sold 238,013 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $4.18, for a total transaction of $994,894.34. Following the completion of the sale, the chief financial officer owned 346,535 shares of the company’s stock, valued at $1,448,516.30. The trade was a 40.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 1,052,924 shares of company stock valued at $4,823,092. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada grew its position in shares of Peloton Interactive by 342.6% in the first quarter. Royal Bank of Canada now owns 616,367 shares of the company’s stock valued at $3,896,000 after purchasing an additional 477,106 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Peloton Interactive by 2.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 290,981 shares of the company’s stock worth $1,839,000 after purchasing an additional 6,921 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Peloton Interactive by 3,132.6% during the 1st quarter. NewEdge Advisors LLC now owns 15,549 shares of the company’s stock worth $98,000 after purchasing an additional 15,068 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Peloton Interactive by 27.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,056,642 shares of the company’s stock valued at $44,598,000 after purchasing an additional 1,503,680 shares during the period. Finally, Caxton Associates LLP bought a new position in Peloton Interactive in the 1st quarter worth approximately $282,000. Institutional investors and hedge funds own 77.01% of the company’s stock.

Peloton Interactive Company Profile

Peloton Interactive, Inc operates a digital fitness platform that combines connected exercise equipment with live and on-demand workout classes. The company’s core products include stationary bikes (Peloton Bike and Bike+), treadmills (Peloton Tread and Tread+), and the Peloton Row. Each device integrates a touchscreen display that streams instructor-led cycling, running, strength, yoga, meditation and other fitness classes. Peloton generates recurring revenue through subscription plans, which grant users access to its growing library of workouts, performance tracking tools and community features.

Founded in 2012 by John Foley and headquartered in New York City, Peloton set out to deliver an immersive home-fitness experience by blending hardware, software and content.