Peloton Interactive’s (PTON) “Buy” Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of Peloton Interactive (NASDAQ:PTON) in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a $10.00 price target on the stock.

A number of other equities analysts have also recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of Peloton Interactive in a report on Thursday, August 7th. Macquarie raised their price target on Peloton Interactive from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Thursday, August 14th. 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. Telsey Advisory Group boosted their price target on shares of Peloton Interactive from $8.00 to $9.00 and gave the company a “market perform” rating in a report on Thursday. Finally, UBS Group upgraded shares of Peloton Interactive from a “neutral” rating to a “buy” rating and upped their price target for the company from $7.50 to $11.00 in a report on Wednesday, July 30th. Eight equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Peloton Interactive currently has an average rating of “Hold” and a consensus target price of $9.36.

Peloton Interactive Stock Up 0.1%

Peloton Interactive stock opened at $8.68 on Thursday. The firm’s 50-day simple moving average is $7.82 and its 200 day simple moving average is $6.95. Peloton Interactive has a 52 week low of $4.49 and a 52 week high of $10.90. The firm has a market capitalization of $3.54 billion, a PE ratio of -28.00, a P/E/G ratio of 3.33 and a beta of 2.27.

Peloton Interactive (NASDAQ:PTON) last announced its earnings results on Thursday, August 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.12. The firm had revenue of $606.90 million during the quarter, compared to analyst estimates of $580.29 million. During the same period in the previous year, the firm posted ($0.08) EPS. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. Peloton Interactive has set its FY 2025 guidance at EPS. On average, research analysts expect that Peloton Interactive will post -0.36 EPS for the current fiscal year.

Insider Activity

In other Peloton Interactive news, insider Nick V. Caldwell sold 206,901 shares of the business’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $7.78, for a total transaction of $1,609,689.78. Following the sale, the insider directly owned 737,788 shares of the company’s stock, valued at $5,739,990.64. The trade was a 21.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Elizabeth F. Coddington sold 238,664 shares of the business’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $7.85, for a total transaction of $1,873,512.40. Following the transaction, the chief financial officer owned 346,535 shares in the company, valued at $2,720,299.75. This represents a 40.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,851,961 shares of company stock worth $14,775,168 over the last quarter. Corporate insiders own 1.34% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vident Advisory LLC grew its position in shares of Peloton Interactive by 1.1% during the 2nd quarter. Vident Advisory LLC now owns 110,258 shares of the company’s stock worth $765,000 after purchasing an additional 1,180 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Peloton Interactive by 0.3% during the first quarter. Federated Hermes Inc. now owns 533,820 shares of the company’s stock worth $3,374,000 after buying an additional 1,643 shares during the period. Victory Capital Management Inc. grew its holdings in Peloton Interactive by 4.4% in the first quarter. Victory Capital Management Inc. now owns 43,944 shares of the company’s stock worth $278,000 after purchasing an additional 1,860 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Peloton Interactive by 40.2% in the first quarter. Nisa Investment Advisors LLC now owns 6,503 shares of the company’s stock valued at $41,000 after buying an additional 1,864 shares in the last quarter. Finally, Wealthfront Advisers LLC lifted its position in shares of Peloton Interactive by 11.3% during the first quarter. Wealthfront Advisers LLC now owns 18,463 shares of the company’s stock valued at $117,000 after purchasing an additional 1,877 shares in the last quarter. Institutional investors and hedge funds 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.