Macquarie Trims Peloton Interactive (NASDAQ:PTON) Target Price to $2.53

Peloton Interactive (NASDAQ:PTON) had its target price trimmed by Macquarie from $4.50 to $2.53 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages also recently weighed in on PTON. Needham & Company LLC reissued a hold rating on shares of Peloton Interactive in a report on Friday. The Goldman Sachs Group lowered their price target on Peloton Interactive from $6.50 to $5.75 and set a neutral rating on the stock in a research note on Friday, February 2nd. Bank of America cut their price objective on Peloton Interactive from $4.00 to $3.25 and set an underperform rating for the company in a research report on Monday, April 29th. Sanford C. Bernstein lowered Peloton Interactive from an outperform rating to a market perform rating and lowered their target price for the company from $8.00 to $3.80 in a research note on Friday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Peloton Interactive from $9.00 to $8.00 and set an overweight rating on the stock in a research report on Friday, February 2nd. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $5.70.

Peloton Interactive Stock Performance

Shares of Peloton Interactive stock opened at $3.54 on Friday. The firm has a fifty day simple moving average of $3.90 and a 200-day simple moving average of $4.86. Peloton Interactive has a 1-year low of $2.70 and a 1-year high of $9.87.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). The business had revenue of $717.70 million for the quarter, compared to the consensus estimate of $720.85 million. During the same period last year, the business earned ($0.79) EPS. Peloton Interactive’s revenue for the quarter was down 4.2% on a year-over-year basis. Equities research analysts anticipate that Peloton Interactive will post -1.61 earnings per share for the current fiscal year.

Insider Buying and Selling at Peloton Interactive

In other news, CFO Elizabeth F. Coddington sold 8,977 shares of Peloton Interactive stock in a transaction 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 transaction, the chief financial officer now directly owns 104,428 shares of the company’s stock, valued at $453,217.52. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 3.28% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

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

Peloton Interactive Company Profile

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.