Peloton Interactive (NASDAQ:PTON) Given “Market Perform” Rating at Telsey Advisory Group

Telsey Advisory Group reiterated their market perform rating on shares of Peloton Interactive (NASDAQ:PTON) in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a $8.00 target price on the stock.

A number of other research firms have also recently weighed in on PTON. Wall Street Zen cut Peloton Interactive from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $10.00 target price on shares of Peloton Interactive in a research note on Thursday, October 2nd. Guggenheim assumed coverage on shares of Peloton Interactive in a research note on Wednesday, December 10th. They issued a “neutral” rating on the stock. Morgan Stanley boosted their price target on shares of Peloton Interactive from $6.00 to $6.50 and gave the stock an “equal weight” rating in a report on Wednesday, November 19th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $11.50 price objective on shares of Peloton Interactive in a report on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.78.

Peloton Interactive Stock Performance

PTON stock opened at $5.73 on Thursday. The firm has a market cap of $2.39 billion, a PE ratio of -20.46, a P/E/G ratio of 1.76 and a beta of 2.40. The firm’s fifty day moving average is $6.35 and its 200 day moving average is $7.13. Peloton Interactive has a one year low of $4.63 and a one year high of $10.25.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $550.80 million during the quarter, compared to analyst estimates of $540.61 million. The company’s quarterly revenue was down 6.0% compared to the same quarter last year. Research analysts predict that Peloton Interactive will post -0.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Nick V. Caldwell sold 25,135 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $7.00, for a total value of $175,945.00. Following the transaction, the insider directly owned 739,085 shares of the company’s stock, valued at approximately $5,173,595. This trade represents a 3.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Elizabeth F. Coddington sold 21,820 shares of the stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $6.31, for a total transaction of $137,684.20. Following the completion of the sale, the chief financial officer owned 346,535 shares of the company’s stock, valued at approximately $2,186,635.85. The trade was a 5.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,107,129 shares of company stock valued at $7,708,694. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

Several hedge funds and other institutional investors have recently made changes to their positions in PTON. Bessemer Group Inc. boosted its stake in Peloton Interactive by 1,602.6% during the second quarter. Bessemer Group Inc. now owns 5,312 shares of the company’s stock worth $37,000 after buying an additional 5,000 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of Peloton Interactive during the 3rd quarter valued at about $48,000. MAI Capital Management grew its holdings in shares of Peloton Interactive by 64.6% in the second quarter. MAI Capital Management now owns 5,498 shares of the company’s stock valued at $38,000 after purchasing an additional 2,158 shares during the period. Quarry LP purchased a new stake in shares of Peloton Interactive in the third quarter valued at about $71,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Peloton Interactive by 158.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 7,986 shares of the company’s stock valued at $72,000 after buying an additional 4,894 shares during the period. Institutional investors and hedge funds own 77.01% of the company’s stock.

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.