BMO Capital Markets Forecasts Strong Price Appreciation for Peloton Interactive (NASDAQ:PTON) Stock

Peloton Interactive (NASDAQ:PTON) had its target price boosted by research analysts at BMO Capital Markets from $6.50 to $8.50 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ price objective would suggest a potential upside of 10.97% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Roth Mkm raised their price objective on Peloton Interactive from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Needham & Company LLC restated a “hold” rating on shares of Peloton Interactive in a research note on Friday, November 1st. Bank of America raised shares of Peloton Interactive from an “underperform” rating to a “buy” rating and raised their price target for the stock from $3.75 to $9.00 in a research report on Monday. TD Cowen boosted their target price on shares of Peloton Interactive from $3.00 to $4.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Finally, Morgan Stanley increased their price target on Peloton Interactive from $3.50 to $5.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Sixteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $6.57.

Peloton Interactive Price Performance

Peloton Interactive stock opened at $7.66 on Monday. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of -7.16 and a beta of 1.93. The firm has a 50-day moving average of $5.22 and a two-hundred day moving average of $4.14. Peloton Interactive has a 1 year low of $2.70 and a 1 year high of $8.92.

Peloton Interactive (NASDAQ:PTON) last issued its earnings results on Thursday, October 31st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The business had revenue of $586.00 million for the quarter, compared to the consensus estimate of $572.97 million. During the same quarter last year, the firm posted ($0.44) EPS. Peloton Interactive’s quarterly revenue was down 1.6% compared to the same quarter last year. Research analysts expect that Peloton Interactive will post -0.65 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Chris Bruzzo sold 24,977 shares of Peloton Interactive stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $5.80, for a total value of $144,866.60. Following the sale, the chief executive officer now owns 149,240 shares in the company, valued at $865,592. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Peloton Interactive news, CEO Chris Bruzzo sold 24,977 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $5.80, for a total value of $144,866.60. Following the completion of the sale, the chief executive officer now owns 149,240 shares in the company, valued at approximately $865,592. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nick V. Caldwell purchased 31,337 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average cost of $4.25 per share, with a total value of $133,182.25. Following the acquisition, the insider now owns 31,337 shares of the company’s stock, valued at approximately $133,182.25. The disclosure for this purchase can be found here. In the last quarter, insiders sold 194,888 shares of company stock valued at $1,038,717. 1.34% of the stock is owned by corporate insiders.

Institutional Trading of Peloton Interactive

Several hedge funds have recently made changes to their positions in PTON. Abundance Wealth Counselors lifted its holdings in Peloton Interactive by 24.7% in the second quarter. Abundance Wealth Counselors now owns 13,380 shares of the company’s stock valued at $45,000 after acquiring an additional 2,654 shares during the last quarter. Signaturefd LLC increased its position in shares of Peloton Interactive by 2.7% during the 2nd quarter. Signaturefd LLC now owns 113,645 shares of the company’s stock worth $384,000 after purchasing an additional 3,032 shares during the last quarter. Arizona State Retirement System lifted its position in Peloton Interactive by 3.8% in the second quarter. Arizona State Retirement System now owns 92,781 shares of the company’s stock valued at $314,000 after buying an additional 3,377 shares during the last quarter. Kohmann Bosshard Financial Services LLC increased its position in shares of Peloton Interactive by 50.0% during the third quarter. Kohmann Bosshard Financial Services LLC now owns 15,000 shares of the company’s stock valued at $70,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in shares of Peloton Interactive by 4.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 133,765 shares of the company’s stock worth $452,000 after purchasing an additional 5,463 shares during the period. Hedge funds and other 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.