Peloton Interactive (NASDAQ:PTON) Price Target Lowered to $7.00 at JPMorgan Chase & Co.

Peloton Interactive (NASDAQ:PTON) had its price target reduced by JPMorgan Chase & Co. from $8.00 to $7.00 in a report issued on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other brokerages also recently issued reports on PTON. Truist Financial lowered their price objective on shares of Peloton Interactive from $7.00 to $6.00 and set a hold rating on the stock in a research note on Friday, February 2nd. Roth Mkm dropped their price objective on shares of Peloton Interactive from $7.00 to $5.00 and set a buy rating on the stock in a report on Friday. Morgan Stanley assumed coverage on shares of Peloton Interactive in a research note on Monday, March 11th. They issued an equal weight rating and a $3.00 target price for the company. Macquarie cut their price target on Peloton Interactive from $4.50 to $2.53 and set a neutral rating for the company in a report on Friday. Finally, Sanford C. Bernstein downgraded Peloton Interactive from an outperform rating to a market perform rating and reduced their price objective for the stock from $8.00 to $3.80 in a research report on Friday. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $6.15.

Peloton Interactive Trading Up 9.3 %

NASDAQ:PTON opened at $3.42 on Friday. Peloton Interactive has a 1 year low of $2.70 and a 1 year high of $9.87. The firm’s fifty day simple moving average is $3.93 and its 200 day simple moving average is $4.87.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.45) earnings per share (EPS) 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. During the same quarter in the prior year, the company posted ($0.79) earnings per share. The business’s revenue was down 4.2% compared to the same quarter last year. As a group, equities research analysts predict that Peloton Interactive will post -1.61 earnings per share for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Peloton Interactive

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital World Investors grew its holdings in shares of Peloton Interactive by 17.6% in the 4th quarter. Capital World Investors now owns 26,259,325 shares of the company’s stock valued at $159,919,000 after buying an additional 3,925,000 shares during the period. Norges Bank bought a new stake in shares of Peloton Interactive in the fourth quarter worth about $20,824,000. DNB Asset Management AS lifted its holdings in shares of Peloton Interactive by 31.7% during the 4th quarter. DNB Asset Management AS now owns 8,386,903 shares of the company’s stock valued at $51,076,000 after purchasing an additional 2,020,159 shares in the last quarter. Patient Capital Management LLC lifted its holdings in shares of Peloton Interactive by 32.7% during the 4th quarter. Patient Capital Management LLC now owns 6,196,285 shares of the company’s stock valued at $37,735,000 after purchasing an additional 1,527,471 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Peloton Interactive by 612.1% in the 3rd quarter. AQR Capital Management LLC now owns 1,235,350 shares of the company’s stock valued at $6,239,000 after purchasing an additional 1,061,868 shares during the period. Institutional investors own 77.01% of the company’s stock.

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.