Peloton Interactive (NASDAQ:PTON) Downgraded by Wall Street Zen to “Hold”

Peloton Interactive (NASDAQ:PTON) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

PTON has been the topic of several other reports. Morgan Stanley raised their price objective on Peloton Interactive from $6.00 to $6.50 and gave the company an “equal weight” rating in a research note on Wednesday, November 19th. Canaccord Genuity Group reissued a “buy” rating and issued a $10.00 target price on shares of Peloton Interactive in a report on Thursday, October 2nd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $9.00 price target on shares of Peloton Interactive in a report on Monday, November 3rd. The Goldman Sachs Group reiterated a “buy” rating and set a $11.50 price objective on shares of Peloton Interactive in a research report on Thursday, October 2nd. Finally, Truist Financial raised their target price on shares of Peloton Interactive from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Peloton Interactive currently has an average rating of “Hold” and a consensus price target of $9.86.

Peloton Interactive Price Performance

Shares of NASDAQ:PTON opened at $6.84 on Friday. Peloton Interactive has a 1 year low of $4.63 and a 1 year high of $10.25. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of -24.43, a price-to-earnings-growth ratio of 2.03 and a beta of 2.40. The company’s 50 day simple moving average is $6.64 and its 200 day simple moving average is $7.17.

Peloton Interactive (NASDAQ:PTON) last released its earnings results on Thursday, November 6th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. The business had revenue of $550.80 million for the quarter, compared to the consensus estimate of $540.61 million. The business’s revenue was down 6.0% compared to the same quarter last year. As a group, analysts anticipate 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 64,617 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $6.21, for a total value of $401,271.57. Following the completion of the transaction, the insider directly owned 839,982 shares in the company, valued at approximately $5,216,288.22. This represents a 7.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jennifer Cunningham Cotter sold 131,495 shares of the business’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $6.64, for a total transaction of $873,126.80. Following the completion of the sale, the insider directly owned 100,269 shares in the company, valued at approximately $665,786.16. This represents a 56.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 998,452 shares of company stock worth $6,988,068. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

A number of hedge funds have recently made changes to their positions in PTON. Swiss Life Asset Management Ltd bought a new stake in Peloton Interactive in the third quarter valued at approximately $160,000. Polar Asset Management Partners Inc. acquired a new position in shares of Peloton Interactive in the 3rd quarter worth approximately $1,158,000. CIBC Bancorp USA Inc. bought a new stake in shares of Peloton Interactive in the 3rd quarter valued at $362,000. Advisory Services Network LLC acquired a new stake in shares of Peloton Interactive during the third quarter worth $48,000. Finally, Woodline Partners LP bought a new position in Peloton Interactive during the third quarter worth $11,417,000. 77.01% of the stock is currently owned by institutional investors.

About Peloton Interactive

Peloton Interactive, Inc operates a digital fitness platform that combines connected exercise equipment with live and on-demand workout classes. The company’s core products include stationary bikes (Peloton Bike and Bike+), treadmills (Peloton Tread and Tread+), and the Peloton Row. Each device integrates a touchscreen display that streams instructor-led cycling, running, strength, yoga, meditation and other fitness classes. Peloton generates recurring revenue through subscription plans, which grant users access to its growing library of workouts, performance tracking tools and community features.

Founded in 2012 by John Foley and headquartered in New York City, Peloton set out to deliver an immersive home-fitness experience by blending hardware, software and content.