Peloton Interactive (NASDAQ:PTON) Price Target Cut to $5.00 by Analysts at Roth Mkm

Peloton Interactive (NASDAQ:PTON) had its target price reduced by Roth Mkm from $7.00 to $5.00 in a research note issued to investors on Friday, Benzinga reports. Roth Mkm currently has a buy rating on the stock.

A number of other analysts also recently issued reports on PTON. Robert W. Baird decreased their price target on Peloton Interactive from $5.00 to $3.50 and set a neutral rating for the company in a report on Friday. The Goldman Sachs Group decreased their target price on Peloton Interactive from $6.50 to $5.75 and set a neutral rating for the company in a research report on Friday, February 2nd. Needham & Company LLC restated a hold rating on shares of Peloton Interactive in a research note on Friday. Bank of America dropped their price target on Peloton Interactive from $4.00 to $3.25 and set an underperform rating on the stock in a research report on Monday, April 29th. Finally, Morgan Stanley started coverage on Peloton Interactive in a research report on Monday, March 11th. They set an equal weight rating and a $3.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Peloton Interactive currently has an average rating of Hold and an average price target of $5.70.

Peloton Interactive Price Performance

PTON stock opened at $3.54 on Friday. Peloton Interactive has a 1 year low of $2.70 and a 1 year high of $9.87. The firm has a market capitalization of $1.30 billion, a P/E ratio of -1.68 and a beta of 2.01. The business’s 50-day moving average is $3.90 and its two-hundred day moving average is $4.86.

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 analysts’ consensus estimates of ($0.39) by ($0.06). The company had revenue of $717.70 million for the quarter, compared to the consensus estimate of $720.85 million. The firm’s revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.79) EPS. On average, analysts expect that Peloton Interactive will post -1.61 EPS for the current year.

Insider Buying and Selling

In related news, CFO Elizabeth F. Coddington sold 8,977 shares of Peloton Interactive stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $4.34, for a total transaction of $38,960.18. Following the completion of 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 accessible through the SEC website. Insiders own 3.28% of the company’s stock.

Institutional Trading of Peloton Interactive

Several institutional investors and hedge funds have recently modified their holdings of the business. Capital World Investors lifted its stake in 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 in the last quarter. Norges Bank purchased a new stake in shares of Peloton Interactive in the fourth quarter valued at $20,824,000. DNB Asset Management AS boosted its stake 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 valued at $51,076,000 after acquiring an additional 2,020,159 shares during the last quarter. Patient Capital Management LLC raised its stake 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 purchasing an additional 1,527,471 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings 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 valued at $6,239,000 after purchasing an additional 1,061,868 shares in the last quarter. Hedge funds and other institutional investors 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.