Peloton Interactive (NASDAQ:PTON) Shares Up 7%

Peloton Interactive, Inc. (NASDAQ:PTON) shares traded up 7% during mid-day trading on Friday . The stock traded as high as $3.61 and last traded at $3.35. 13,500,116 shares traded hands during trading, a decline of 8% from the average session volume of 14,675,162 shares. The stock had previously closed at $3.13.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group reduced their target price on Peloton Interactive from $5.75 to $3.50 and set a “neutral” rating for the company in a report on Friday. Macquarie lowered their target price on shares of Peloton Interactive from $4.50 to $2.53 and set a “neutral” rating on the stock in a research note on Friday. Truist Financial dropped their target price on shares of Peloton Interactive from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Friday, February 2nd. Robert W. Baird decreased their price target on shares of Peloton Interactive from $5.00 to $3.50 and set a “neutral” rating for the company in a report on Friday. Finally, Sanford C. Bernstein lowered Peloton Interactive from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $8.00 to $3.80 in a research note on Friday. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Peloton Interactive presently has a consensus rating of “Hold” and an average target price of $6.15.

Peloton Interactive Price Performance

The firm has a market cap of $1.26 billion, a P/E ratio of -1.62 and a beta of 2.01. The stock’s 50 day moving average is $3.93 and its two-hundred day moving average is $4.87.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.06). The firm had revenue of $717.70 million during the quarter, compared to the consensus estimate of $720.85 million. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.79) EPS. As a group, research analysts forecast that Peloton Interactive, Inc. will post -1.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Elizabeth F. Coddington sold 8,977 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $4.34, for a total value of $38,960.18. Following the sale, the chief financial officer now owns 104,428 shares in the company, valued at approximately $453,217.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PTON. Johnson & White Wealth Management LLC bought a new position in shares of Peloton Interactive in the first quarter valued at approximately $43,000. Abundance Wealth Counselors acquired a new stake in Peloton Interactive during the 1st quarter valued at $46,000. Rakuten Securities Inc. bought a new position in Peloton Interactive in the 4th quarter valued at $47,000. Carl P. Sherr & Co. LLC acquired a new position in Peloton Interactive in the third quarter worth $55,000. Finally, Clear Harbor Asset Management LLC bought a new stake in shares of Peloton Interactive during the fourth quarter worth $78,000. 77.01% of the stock is currently owned by institutional investors and hedge funds.

About Peloton Interactive

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, Peloton Tread+, Peloton Guide, and Peloton Row names.