Morgan Stanley Issues Positive Forecast for Peloton Interactive (NASDAQ:PTON) Stock Price

Peloton Interactive (NASDAQ:PTON) had its price objective upped by Morgan Stanley from $4.00 to $5.75 in a research report released on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other research analysts have also weighed in on PTON. Bank of America cut their price target on shares of Peloton Interactive from $11.50 to $9.50 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Truist Financial raised shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Monday, April 28th. Telsey Advisory Group reiterated a “market perform” rating and set a $8.00 target price on shares of Peloton Interactive in a report on Friday. Macquarie upgraded Peloton Interactive from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $9.00 to $10.00 in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. decreased their price objective on Peloton Interactive from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Peloton Interactive currently has an average rating of “Hold” and an average price target of $8.46.

Peloton Interactive Trading Up 5.5%

PTON stock opened at $6.96 on Monday. Peloton Interactive has a 1-year low of $2.83 and a 1-year high of $10.90. The firm has a market cap of $2.71 billion, a PE ratio of -15.82 and a beta of 2.08. The business’s 50-day moving average price is $6.73 and its two-hundred day moving average price is $6.92.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The firm had revenue of $624.00 million during the quarter, compared to the consensus estimate of $620.39 million. During the same quarter in the prior year, the company posted ($0.45) earnings per share. Peloton Interactive’s revenue for the quarter was down 13.1% compared to the same quarter last year. On average, analysts forecast that Peloton Interactive will post -0.36 earnings per share for the current year.

Insider Activity

In other Peloton Interactive news, COO Charles Peter Kirol sold 20,633 shares of the stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $6.39, for a total value of $131,844.87. Following the completion of the sale, the chief operating officer owned 35,877 shares in the company, valued at $229,254.03. This trade represents a 36.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Elizabeth F. Coddington sold 185,661 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $6.29, for a total transaction of $1,167,807.69. Following the transaction, the chief financial officer owned 311,231 shares in the company, valued at $1,957,642.99. This represents a 37.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 576,585 shares of company stock worth $3,688,758. Corporate insiders own 1.34% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. raised its stake in Peloton Interactive by 969.6% in the fourth quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company’s stock valued at $35,000 after buying an additional 3,636 shares during the period. Bessemer Group Inc. increased its holdings in shares of Peloton Interactive by 1,602.6% during the 2nd quarter. Bessemer Group Inc. now owns 5,312 shares of the company’s stock worth $37,000 after acquiring an additional 5,000 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in Peloton Interactive in the 1st quarter valued at $37,000. Comerica Bank raised its stake in Peloton Interactive by 29.1% in the 4th quarter. Comerica Bank now owns 6,164 shares of the company’s stock valued at $54,000 after acquiring an additional 1,389 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in Peloton Interactive by 40.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 6,503 shares of the company’s stock valued at $41,000 after purchasing an additional 1,864 shares during the last quarter. 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.