Peloton Interactive (NASDAQ:PTON) Stock Price Expected to Rise, Macquarie Analyst Says

Peloton Interactive (NASDAQ:PTON) had its price objective increased by Macquarie from $10.00 to $11.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Macquarie’s price objective indicates a potential upside of 29.11% from the stock’s current price.

PTON has been the topic of several other reports. The Goldman Sachs Group raised shares of Peloton Interactive from a “neutral” rating to a “buy” rating and boosted their target price for the company from $7.00 to $11.50 in a research note on Friday, August 8th. UBS Group raised shares of Peloton Interactive from a “neutral” rating to a “buy” rating and boosted their target price for the company from $7.50 to $11.00 in a research note on Wednesday, July 30th. Truist Financial set a $11.00 target price on shares of Peloton Interactive in a research note on Thursday, August 7th. Telsey Advisory Group reissued a “market perform” rating and set a $8.00 target price on shares of Peloton Interactive in a research note on Thursday, August 7th. Finally, Morgan Stanley boosted their target price on shares of Peloton Interactive from $4.00 to $5.75 and gave the company an “equal weight” rating in a research note on Monday, August 4th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $8.79.

Peloton Interactive Stock Performance

Shares of NASDAQ:PTON opened at $8.52 on Thursday. Peloton Interactive has a one year low of $3.11 and a one year high of $10.90. The stock has a fifty day moving average of $6.87 and a 200-day moving average of $6.91. The company has a market capitalization of $3.32 billion, a PE ratio of -27.48 and a beta of 2.08.

Peloton Interactive (NASDAQ:PTON) last announced its earnings results on Thursday, August 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.12. The firm had revenue of $606.90 million for the quarter, compared to analyst estimates of $580.29 million. During the same period last year, the firm earned ($0.08) earnings per share. Peloton Interactive’s revenue for the quarter was down 5.8% compared to the same quarter last year. As a group, research analysts forecast that Peloton Interactive will post -0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 38,708 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $6.96, for a total transaction of $269,407.68. Following the transaction, the chief financial officer directly owned 294,342 shares of the company’s stock, valued at $2,048,620.32. This represents a 11.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Nick V. Caldwell sold 63,925 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $6.99, for a total transaction of $446,835.75. Following the transaction, the insider directly owned 578,668 shares in the company, valued at $4,044,889.32. The trade was a 9.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 153,556 shares of company stock valued at $1,090,408 over the last three months. 1.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Peloton Interactive

Several hedge funds have recently bought and sold shares of PTON. Envestnet Asset Management Inc. acquired a new position in Peloton Interactive during the fourth quarter worth $104,000. Russell Investments Group Ltd. increased its position in Peloton Interactive by 969.6% during the fourth quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company’s stock worth $35,000 after buying an additional 3,636 shares during the last quarter. Cerity Partners LLC boosted its holdings in Peloton Interactive by 29.0% during the fourth quarter. Cerity Partners LLC now owns 72,537 shares of the company’s stock valued at $608,000 after acquiring an additional 16,311 shares during the period. Invesco Ltd. boosted its holdings in Peloton Interactive by 106.0% during the fourth quarter. Invesco Ltd. now owns 1,357,466 shares of the company’s stock valued at $11,810,000 after acquiring an additional 698,621 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Peloton Interactive during the fourth quarter valued at about $1,158,000. 77.01% of the stock is owned by institutional investors and hedge funds.

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.