Peloton Interactive (NASDAQ:PTON) Cut to “Neutral” at Citigroup

Peloton Interactive (NASDAQ:PTON) was downgraded by equities researchers at Citigroup from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, MarketBeat.com reports. They presently have a $4.00 price objective on the stock, down from their prior price objective of $8.00. Citigroup’s price objective points to a potential downside of 2.20% from the stock’s current price.

Several other brokerages also recently commented on PTON. The Goldman Sachs Group lowered their target price on Peloton Interactive from $5.75 to $3.50 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Sanford C. Bernstein cut Peloton Interactive from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $8.00 to $3.80 in a report on Friday, May 3rd. Truist Financial reduced their price target on Peloton Interactive from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Friday, February 2nd. Needham & Company LLC restated a “hold” rating on shares of Peloton Interactive in a report on Friday, May 3rd. Finally, Roth Mkm reduced their price target on Peloton Interactive from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $5.70.

Peloton Interactive Trading Up 15.5 %

Shares of NASDAQ PTON opened at $4.09 on Monday. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -1.94 and a beta of 2.01. Peloton Interactive has a 12 month low of $2.70 and a 12 month high of $9.87. The stock has a 50-day moving average price of $3.89 and a two-hundred day moving average price of $4.85.

Peloton Interactive (NASDAQ:PTON) last issued its earnings results on Thursday, May 2nd. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.06). The business had revenue of $717.70 million during the quarter, compared to analysts’ expectations of $720.85 million. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period last year, the firm posted ($0.79) earnings per share. On average, sell-side analysts predict that Peloton Interactive will post -1.61 earnings per share for the current year.

Insiders Place Their Bets

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,977 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 104,428 shares in the company, valued at approximately $453,217.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company 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 modified their holdings of the business. Sfmg LLC bought a new position in shares of Peloton Interactive during the 1st quarter worth approximately $103,000. Swiss National Bank raised its position in shares of Peloton Interactive by 1.2% during the first quarter. Swiss National Bank now owns 642,200 shares of the company’s stock worth $2,752,000 after purchasing an additional 7,600 shares during the period. Manchester Capital Management LLC raised its position in shares of Peloton Interactive by 105.4% during the first quarter. Manchester Capital Management LLC now owns 235,000 shares of the company’s stock worth $1,007,000 after purchasing an additional 120,600 shares during the period. First Trust Direct Indexing L.P. acquired a new position in shares of Peloton Interactive during the first quarter worth approximately $94,000. Finally, Lee Johnson Capital Management LLC acquired a new position in shares of Peloton Interactive during the first quarter worth approximately $2,837,000. 77.01% of the stock is currently owned by institutional investors.

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.