Peloton Interactive (NASDAQ:PTON) Lowered to “Market Perform” at Cowen

Cowen downgraded shares of Peloton Interactive (NASDAQ:PTONGet Rating) to a market perform rating in a report issued on Monday morning, Stock Target Advisor reports.

Several other equities analysts have also issued reports on the stock. Needham & Company LLC cut their price objective on shares of Peloton Interactive from $25.00 to $14.00 and set a buy rating on the stock in a report on Friday, August 26th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Peloton Interactive from $34.00 to $24.00 and set a buy rating on the stock in a report on Friday, August 26th. The Goldman Sachs Group cut their price target on shares of Peloton Interactive from $18.00 to $12.00 and set a neutral rating on the stock in a report on Friday, November 4th. Telsey Advisory Group cut their price target on shares of Peloton Interactive from $11.00 to $9.00 and set a market perform rating on the stock in a report on Friday, October 28th. Finally, Canaccord Genuity Group cut their price target on shares of Peloton Interactive from $25.00 to $20.00 in a report on Thursday, August 25th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $19.50.

Peloton Interactive Stock Performance

Shares of PTON stock opened at $9.76 on Monday. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of -1.14 and a beta of 1.57. The company’s 50 day moving average is $8.85 and its 200 day moving average is $10.41. The company has a quick ratio of 1.40, a current ratio of 2.47 and a debt-to-equity ratio of 6.48. Peloton Interactive has a 52-week low of $6.66 and a 52-week high of $47.75.

Peloton Interactive (NASDAQ:PTONGet Rating) last issued its quarterly earnings data on Thursday, August 25th. The company reported ($1.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.61). The business had revenue of $678.40 million for the quarter, compared to analysts’ expectations of $682.93 million. Peloton Interactive had a negative net margin of 83.97% and a negative return on equity of 116.53%. The business’s quarterly revenue was down 27.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.05) earnings per share. On average, sell-side analysts anticipate that Peloton Interactive will post -2.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Clearstead Advisors LLC raised its position in shares of Peloton Interactive by 133.7% in the first quarter. Clearstead Advisors LLC now owns 1,573 shares of the company’s stock worth $42,000 after acquiring an additional 900 shares during the period. Seeyond raised its position in shares of Peloton Interactive by 14.3% in the second quarter. Seeyond now owns 7,552 shares of the company’s stock worth $69,000 after acquiring an additional 945 shares during the period. Truist Financial Corp raised its position in shares of Peloton Interactive by 10.4% in the second quarter. Truist Financial Corp now owns 10,766 shares of the company’s stock worth $99,000 after acquiring an additional 1,017 shares during the period. IFP Advisors Inc lifted its stake in Peloton Interactive by 57.5% in the 3rd quarter. IFP Advisors Inc now owns 3,102 shares of the company’s stock worth $92,000 after purchasing an additional 1,132 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Peloton Interactive by 7.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 18,138 shares of the company’s stock worth $479,000 after purchasing an additional 1,207 shares in the last quarter. Institutional investors and hedge funds own 79.40% of the company’s stock.

Peloton Interactive Company Profile

(Get Rating)

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, and Peloton Tread+ names. It 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.

Further Reading

Analyst Recommendations for Peloton Interactive (NASDAQ:PTON)

Receive News & Ratings for Peloton Interactive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Peloton Interactive and related companies with MarketBeat.com's FREE daily email newsletter.