Peloton Interactive (NASDAQ:PTON) Price Target Cut to $6.50

Peloton Interactive (NASDAQ:PTON) had its price target lowered by BMO Capital Markets from $7.50 to $6.50 in a research report released on Friday, Benzinga reports. The firm currently has a market perform rating on the stock.

Other research analysts also recently issued reports about the stock. Roth Mkm decreased their price target on shares of Peloton Interactive from $7.00 to $5.00 and set a buy rating on the stock in a research report on Friday. Robert W. Baird decreased their price target on shares of Peloton Interactive from $5.00 to $3.50 and set a neutral rating on the stock in a research report on Friday. JPMorgan Chase & Co. reduced their price objective on shares of Peloton Interactive from $9.00 to $8.00 and set an overweight rating for the company in a research note on Friday, February 2nd. Sanford C. Bernstein cut shares of 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 note on Friday. Finally, Macquarie reduced their price objective on shares of Peloton Interactive from $4.50 to $2.53 and set a neutral rating for the company in a research note on Friday. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and a consensus price target of $5.70.

Peloton Interactive Trading Up 3.4 %

PTON 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’s 50 day simple moving average is $3.90 and its two-hundred day simple moving average is $4.86.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings results 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 business had revenue of $717.70 million for the quarter, compared to analyst estimates of $720.85 million. During the same quarter in the previous year, the firm earned ($0.79) EPS. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, sell-side analysts predict that Peloton Interactive will post -1.61 earnings per share for the current fiscal year.

Insider Buying and Selling at Peloton Interactive

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,977 shares of the 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 completion of the transaction, the chief financial officer now owns 104,428 shares in the company, valued at $453,217.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.28% of the stock is owned by company insiders.

Hedge Funds Weigh In On Peloton Interactive

Several institutional investors have recently bought and sold shares of PTON. Capital World Investors lifted its position in Peloton Interactive by 17.6% during the fourth quarter. Capital World Investors now owns 26,259,325 shares of the company’s stock valued at $159,919,000 after purchasing an additional 3,925,000 shares during the last quarter. Norges Bank bought a new position in Peloton Interactive during the fourth quarter valued at $20,824,000. DNB Asset Management AS lifted its holdings in shares of Peloton Interactive by 31.7% in the 4th 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 during the last quarter. Patient Capital Management LLC lifted its holdings in shares of Peloton Interactive by 32.7% in the 4th quarter. Patient Capital Management LLC now owns 6,196,285 shares of the company’s stock worth $37,735,000 after acquiring an additional 1,527,471 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings 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 worth $6,239,000 after acquiring an additional 1,061,868 shares during the last quarter. 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.