Peloton Interactive (NASDAQ:PTON) Price Target Lowered to $3.50 at The Goldman Sachs Group

Peloton Interactive (NASDAQ:PTON) had its price target lowered by The Goldman Sachs Group from $5.75 to $3.50 in a research report report published on Friday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

A number of other analysts have also issued reports on the stock. Telsey Advisory Group reiterated a market perform rating and set a $4.00 price target (down from $5.00) on shares of Peloton Interactive in a research note on Monday, April 29th. Morgan Stanley initiated coverage on shares of Peloton Interactive in a report on Monday, March 11th. They set an equal weight rating and a $3.00 target price on the stock. Robert W. Baird dropped their price target on shares of Peloton Interactive from $5.00 to $3.50 and set a neutral rating for the company in a research note on Friday. Roth Mkm reduced their price objective on Peloton Interactive from $7.00 to $5.00 and set a buy rating on the stock in a research note on Friday. Finally, Needham & Company LLC reissued a hold rating on shares of Peloton Interactive in a research note on Friday. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $6.15.

Peloton Interactive Price Performance

Shares of PTON stock traded up $0.29 during trading hours on Friday, hitting $3.43. The company had a trading volume of 34,797,791 shares, compared to its average volume of 14,415,963. Peloton Interactive has a fifty-two week low of $2.70 and a fifty-two week high of $9.87. The company’s fifty day moving average is $3.93 and its 200 day moving average is $4.87. The stock has a market capitalization of $1.26 billion, a PE ratio of -1.62 and a beta of 2.01.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). The business had revenue of $717.70 million during the quarter, compared to the consensus estimate of $720.85 million. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.79) EPS. Equities analysts forecast that Peloton Interactive will post -1.61 earnings per share for the current year.

Insider Activity at Peloton Interactive

In related news, CFO Elizabeth F. Coddington sold 8,977 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $4.34, for a total value of $38,960.18. Following the completion of the sale, the chief financial officer now directly owns 104,428 shares of the company’s stock, valued at $453,217.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 3.28% of the company’s stock.

Institutional Trading of Peloton Interactive

Several institutional investors and hedge funds have recently made changes to their positions in PTON. First Trust Direct Indexing L.P. purchased a new position in Peloton Interactive during the 1st quarter worth approximately $94,000. Lee Johnson Capital Management LLC purchased a new position in shares of Peloton Interactive during the first quarter worth approximately $2,837,000. Abundance Wealth Counselors acquired a new position in shares of Peloton Interactive in the 1st quarter valued at $46,000. State of Michigan Retirement System raised its position in Peloton Interactive by 412.1% in the 1st quarter. State of Michigan Retirement System now owns 596,477 shares of the company’s stock valued at $2,556,000 after purchasing an additional 480,000 shares during the last quarter. Finally, Johnson & White Wealth Management LLC acquired a new stake in Peloton Interactive during the 1st quarter worth $43,000. 77.01% of the stock is owned by hedge funds and other institutional investors.

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.