Truist Financial Lowers Peloton Interactive (NASDAQ:PTON) Price Target to $9.00

Peloton Interactive (NASDAQ:PTON) had its price objective lowered by Truist Financial from $12.00 to $9.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 100.67% from the stock’s current price.

PTON has been the topic of a number of other research reports. Wall Street Zen raised Peloton Interactive from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Peloton Interactive in a report on Friday, January 9th. Morgan Stanley boosted their price target on shares of Peloton Interactive from $6.00 to $6.50 and gave the stock an “equal weight” rating in a report on Wednesday, November 19th. Macquarie decreased their price objective on shares of Peloton Interactive from $12.00 to $6.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Wolfe Research set a $9.00 price target on shares of Peloton Interactive in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $8.87.

Peloton Interactive Trading Up 2.2%

Shares of NASDAQ PTON traded up $0.10 during mid-day trading on Friday, reaching $4.49. The company had a trading volume of 14,307,674 shares, compared to its average volume of 14,021,448. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of -16.09, a price-to-earnings-growth ratio of 1.37 and a beta of 2.41. Peloton Interactive has a 52 week low of $4.09 and a 52 week high of $10.25. The business’s 50-day moving average is $6.24 and its 200-day moving average is $7.09.

Peloton Interactive (NASDAQ:PTON) last issued its earnings results on Thursday, February 5th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The business had revenue of $656.50 million for the quarter, compared to analyst estimates of $675.04 million. Peloton Interactive’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.24) EPS. As a group, equities research analysts forecast that Peloton Interactive will post -0.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Charles Peter Kirol sold 22,520 shares of the stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $6.47, for a total transaction of $145,704.40. Following the transaction, the chief operating officer owned 81,001 shares of the company’s stock, valued at approximately $524,076.47. This represents a 21.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Saqib Baig sold 10,000 shares of Peloton Interactive stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $6.87, for a total transaction of $68,700.00. Following the completion of the transaction, the chief accounting officer owned 170,665 shares of the company’s stock, valued at $1,172,468.55. This trade represents a 5.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 1,107,129 shares of company stock valued at $7,708,694. Insiders own 1.30% of the company’s stock.

Institutional Trading of Peloton Interactive

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bessemer Group Inc. increased its holdings in shares of Peloton Interactive by 1,602.6% in the 2nd quarter. Bessemer Group Inc. now owns 5,312 shares of the company’s stock valued at $37,000 after acquiring an additional 5,000 shares during the last quarter. MAI Capital Management boosted its holdings in shares of Peloton Interactive by 64.6% in the 2nd quarter. MAI Capital Management now owns 5,498 shares of the company’s stock valued at $38,000 after buying an additional 2,158 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Peloton Interactive in the 3rd quarter valued at $48,000. Quarry LP purchased a new position in shares of Peloton Interactive in the 3rd quarter valued at $71,000. Finally, Farther Finance Advisors LLC raised its stake in Peloton Interactive by 158.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 7,986 shares of the company’s stock worth $72,000 after acquiring an additional 4,894 shares in the last quarter. 77.01% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Peloton Interactive

Here are the key news stories impacting Peloton Interactive this week:

• Positive Sentiment: Company highlights improving margins, cost controls and deleveraging that support profitability and cash flow — a constructive offset to slowing top-line trends. PYMNTS: Peloton Misses Q2 Revenue
• Positive Sentiment: Macquarie left an “outperform” stance (while cutting the price target to $6), signaling some analyst confidence in upside from the current levels. Benzinga: Macquarie PT Cut
• Positive Sentiment: Unusually large call-option buying suggests some traders are positioning for a rebound or volatility-driven opportunity. (Reported large spike in call volume on Feb. 5.)
• Neutral Sentiment: Analyst commentary and earnings call transcripts are available for details on subscriber trends, product performance and management commentary — useful for dissecting the revenue shortfall and guidance assumptions. Globe and Mail: Analyst Insights MSN: Earnings Call Transcript
• Neutral Sentiment: Telsey lowered its price target to $6 and set a “market perform” rating — a more cautious view but not a full sell rating. Benzinga: Telsey PT Cut
• Negative Sentiment: Q2 results missed expectations: EPS of ($0.09) vs. consensus ($0.07) and revenue of $656.5M vs. ~$675M consensus; revenue was down year-over-year. Management also issued a weaker Q3 revenue outlook ($605M–$625M vs. ~$638M consensus). Yahoo Finance: Revenue Miss
• Negative Sentiment: CFO Liz Coddington is leaving to join Palmetto, creating near-term leadership uncertainty during a sensitive turnaround phase. WSJ: CFO Leaving Peloton Press Release: Leadership Update
• Negative Sentiment: Market reaction: stock plunged over 20% in immediate trading after the print and guidance cut as investors questioned demand for the company’s higher-priced hardware and subscription changes. Yahoo Finance: Down 23%

About Peloton Interactive

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.