Peloton Interactive (NASDAQ:PTON) Price Target Cut to $24.00 by Analysts at JPMorgan Chase & Co.

Peloton Interactive (NASDAQ:PTONGet Rating) had its target price cut by analysts at JPMorgan Chase & Co. from $50.00 to $24.00 in a research note issued on Wednesday, The Fly reports. JPMorgan Chase & Co.‘s target price suggests a potential upside of 86.05% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Macquarie reduced their price objective on shares of Peloton Interactive from $85.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, February 9th. Barclays reduced their price objective on shares of Peloton Interactive from $90.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, February 9th. Oppenheimer upped their price objective on shares of Peloton Interactive from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, February 9th. Stifel Nicolaus lowered shares of Peloton Interactive from a “buy” rating to a “hold” rating and reduced their price objective for the company from $45.00 to $14.00 in a research note on Wednesday. Finally, Cowen upped their price objective on shares of Peloton Interactive from $40.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, February 9th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $48.81.

NASDAQ:PTON opened at $12.90 on Wednesday. Peloton Interactive has a twelve month low of $11.25 and a twelve month high of $129.70. The company has a current ratio of 2.33, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average of $23.04 and a 200-day moving average of $35.35. The firm has a market cap of $4.28 billion, a price-to-earnings ratio of -3.47 and a beta of 1.26.

Peloton Interactive (NASDAQ:PTONGet Rating) last posted 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). Peloton Interactive had a negative net margin of 27.48% and a negative return on equity of 59.67%. The business had revenue of $964.30 million for the quarter, compared to the consensus estimate of $969.81 million. During the same quarter last year, the business posted ($0.03) EPS. The business’s revenue for the quarter was down 23.6% on a year-over-year basis. On average, research analysts forecast that Peloton Interactive will post -3.94 earnings per share for the current year.

In other Peloton Interactive news, COO Mariana Garavaglia sold 2,459 shares of the stock in a transaction that occurred on Thursday, February 17th. The stock was sold at an average price of $31.99, for a total transaction of $78,663.41. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William Lynch sold 6,250 shares of the stock in a transaction that occurred on Thursday, February 17th. The shares were sold at an average price of $32.49, for a total value of $203,062.50. The disclosure for this sale can be found here. Insiders sold 10,768 shares of company stock worth $347,387 in the last 90 days. 13.18% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. TD Asset Management Inc. grew its holdings in Peloton Interactive by 58.2% during the first quarter. TD Asset Management Inc. now owns 375,105 shares of the company’s stock valued at $9,910,000 after purchasing an additional 137,996 shares during the last quarter. AGF Investments LLC acquired a new stake in shares of Peloton Interactive in the first quarter worth $793,000. Arnhold LLC acquired a new stake in shares of Peloton Interactive in the first quarter worth $370,000. Van ECK Associates Corp grew its stake in shares of Peloton Interactive by 5.1% in the first quarter. Van ECK Associates Corp now owns 54,334 shares of the company’s stock worth $1,436,000 after acquiring an additional 2,652 shares during the last quarter. Finally, Oak Thistle LLC acquired a new stake in shares of Peloton Interactive in the first quarter worth $469,000. Institutional investors 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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