MKM Partners Cuts Peloton Interactive (NASDAQ:PTON) Price Target to $17.00

Peloton Interactive (NASDAQ:PTONGet Rating) had its price target decreased by investment analysts at MKM Partners from $35.00 to $17.00 in a note issued to investors on Wednesday, The Fly reports. The firm presently has a “neutral” rating on the stock. MKM Partners’ price target points to a potential upside of 27.82% from the stock’s previous close.

PTON has been the topic of a number of other reports. BMO Capital Markets reduced their price target on shares of Peloton Interactive from $24.00 to $12.00 in a research report on Wednesday. KeyCorp reduced their price target on shares of Peloton Interactive from $110.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, January 20th. Telsey Advisory Group reduced their price target on shares of Peloton Interactive from $40.00 to $28.00 and set a “market perform” rating on the stock in a research report on Monday, April 18th. Needham & Company LLC reduced their price target on shares of Peloton Interactive from $50.00 to $25.00 in a research report on Wednesday. Finally, Bank of America raised their price target on shares of Peloton Interactive from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, February 9th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, Peloton Interactive currently has an average rating of “Hold” and a consensus price target of $45.81.

Shares of PTON stock opened at $13.30 on Wednesday. The firm has a market cap of $4.41 billion, a P/E ratio of -3.57 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. The firm has a fifty day moving average of $23.04 and a two-hundred day moving average of $35.35.

Peloton Interactive (NASDAQ:PTONGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported ($2.27) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($1.44). The company had revenue of $964.30 million for the quarter, compared to analyst estimates of $969.81 million. Peloton Interactive had a negative return on equity of 59.67% and a negative net margin of 27.48%. Peloton Interactive’s revenue was down 23.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.03) earnings per share. On average, sell-side analysts expect that Peloton Interactive will post -3.94 EPS for the current year.

In other news, COO Mariana Garavaglia sold 2,459 shares of Peloton Interactive stock in a transaction that occurred on Thursday, February 17th. The shares were sold at an average price of $31.99, for a total value of $78,663.41. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William Lynch sold 6,250 shares of Peloton Interactive stock in a transaction that occurred on Thursday, February 17th. The stock was sold at an average price of $32.49, for a total transaction of $203,062.50. 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 insiders.

Several institutional investors and hedge funds have recently made changes to their positions in PTON. PNC Financial Services Group Inc. increased its position in shares of Peloton Interactive by 18.8% in the third quarter. PNC Financial Services Group Inc. now owns 10,603 shares of the company’s stock worth $922,000 after acquiring an additional 1,678 shares in the last quarter. Advisor Group Holdings Inc. increased its position in shares of Peloton Interactive by 9.0% in the third quarter. Advisor Group Holdings Inc. now owns 41,051 shares of the company’s stock worth $3,569,000 after acquiring an additional 3,383 shares in the last quarter. Moors & Cabot Inc. purchased a new position in shares of Peloton Interactive in the third quarter worth approximately $58,000. Russell Investments Group Ltd. increased its position in shares of Peloton Interactive by 76.1% in the third quarter. Russell Investments Group Ltd. now owns 54,900 shares of the company’s stock worth $4,741,000 after acquiring an additional 23,716 shares in the last quarter. Finally, Jennison Associates LLC purchased a new position in shares of Peloton Interactive in the third quarter worth approximately $224,000. 82.42% of the stock is currently owned by institutional investors.

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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