Credit Suisse Group Trims Peloton Interactive (NASDAQ:PTON) Target Price to $11.00

Peloton Interactive (NASDAQ:PTONGet Rating) had its price objective decreased by investment analysts at Credit Suisse Group from $28.00 to $11.00 in a report issued on Wednesday, The Fly reports. Credit Suisse Group’s target price suggests a potential downside of 14.73% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Citigroup decreased their price target on shares of Peloton Interactive from $36.00 to $28.00 in a research note on Wednesday. Loop Capital lowered their target price on shares of Peloton Interactive from $55.00 to $27.00 in a research note on Wednesday. Zacks Investment Research upgraded Peloton Interactive from a “sell” rating to a “hold” rating in a report on Friday, February 18th. Deutsche Bank Aktiengesellschaft raised their price objective on Peloton Interactive from $42.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, February 9th. Finally, Cowen increased their target price on Peloton Interactive from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 9th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, Peloton Interactive has an average rating of “Hold” and an average price target of $48.81.

Shares of Peloton Interactive stock opened at $12.90 on Wednesday. The business has a 50 day moving average price of $23.04 and a 200 day moving average price of $35.35. The company has a market capitalization of $4.28 billion, a P/E ratio of -3.47 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.33 and a quick ratio of 1.29. Peloton Interactive has a 1 year low of $11.25 and a 1 year high of $129.70.

Peloton Interactive (NASDAQ:PTONGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($2.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.83) by ($1.44). Peloton Interactive had a negative return on equity of 59.67% and a negative net margin of 27.48%. The company had revenue of $964.30 million during the quarter, compared to analyst estimates of $969.81 million. During the same period last year, the firm earned ($0.03) earnings per share. The business’s revenue was down 23.6% compared to the same quarter last year. As a group, research analysts expect that Peloton Interactive will post -3.94 EPS for the current fiscal year.

In other Peloton Interactive news, Director William Lynch sold 6,250 shares of the firm’s stock in a transaction on Thursday, February 17th. The shares were sold at an average price of $32.49, for a total transaction of $203,062.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Mariana Garavaglia sold 2,459 shares of the company’s stock in a transaction dated Thursday, February 17th. The shares were sold at an average price of $31.99, for a total transaction of $78,663.41. The disclosure for this sale can be found here. Insiders have sold a total of 10,768 shares of company stock worth $347,387 over the last 90 days. 13.18% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of PTON. PNC Financial Services Group Inc. raised its position in shares of Peloton Interactive by 18.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 10,603 shares of the company’s stock valued at $922,000 after acquiring an additional 1,678 shares in the last quarter. Advisor Group Holdings Inc. raised its holdings in shares of Peloton Interactive by 9.0% during the third quarter. Advisor Group Holdings Inc. now owns 41,051 shares of the company’s stock worth $3,569,000 after purchasing an additional 3,383 shares during the period. Moors & Cabot Inc. bought a new position in shares of Peloton Interactive in the 3rd quarter worth about $58,000. Russell Investments Group Ltd. boosted its holdings in shares of Peloton Interactive by 76.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 54,900 shares of the company’s stock valued at $4,741,000 after buying an additional 23,716 shares during the period. Finally, Jennison Associates LLC bought a new stake in shares of Peloton Interactive during the 3rd quarter valued at about $224,000. Institutional investors and hedge funds own 82.42% of the company’s stock.

About Peloton Interactive (Get Rating)

Peloton Interactive, Inc provides interactive fitness products in North America and internationally. It offers connected fitness products with touchscreen that streams live and on-demand classes under the Peloton Bike, Peloton Bike+, Peloton Tread, and Peloton Tread+ names. The company also provides connected fitness subscriptions for various household users, and access to various live and on-demand classes, as well as Peloton Digital app for connected fitness subscribers to provide access to its classes.

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