Peloton Interactive (NASDAQ:PTON) Cut to Hold at Zacks Research

Zacks Research cut shares of Peloton Interactive (NASDAQ:PTON) from a strong-buy rating to a hold rating in a report released on Tuesday morning,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. Macquarie Infrastructure increased their price objective on Peloton Interactive from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Tuesday, November 11th. JPMorgan Chase & Co. dropped their price target on shares of Peloton Interactive from $9.00 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, February 6th. Argus lowered shares of Peloton Interactive from a “buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Telsey Advisory Group lowered their target price on shares of Peloton Interactive from $8.00 to $6.00 and set a “market perform” rating on the stock in a research report on Friday, February 6th. Finally, Wall Street Zen lowered Peloton Interactive from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Seven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $8.42.

Peloton Interactive Stock Performance

PTON stock opened at $4.08 on Tuesday. The stock has a market cap of $1.74 billion, a P/E ratio of -31.38, a P/E/G ratio of 0.81 and a beta of 2.41. The firm has a 50 day simple moving average of $5.57 and a 200 day simple moving average of $6.83. Peloton Interactive has a 52 week low of $3.99 and a 52 week high of $9.20.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings results on Thursday, February 5th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The firm had revenue of $656.50 million for the quarter, compared to analyst estimates of $675.04 million. During the same quarter in the prior year, the company posted ($0.24) EPS. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. Sell-side analysts predict that Peloton Interactive will post -0.36 EPS for the current year.

Insider Buying and Selling at Peloton Interactive

In other news, insider Dion C. Sanders sold 146,844 shares of the firm’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $4.41, for a total transaction of $647,582.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nick V. Caldwell sold 50,570 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $4.15, for a total transaction of $209,865.50. Following the completion of the sale, the insider directly owned 807,847 shares in the company, valued at approximately $3,352,565.05. The trade was a 5.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,079,910 shares of company stock valued at $5,144,999 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Peloton Interactive

Hedge funds and other institutional investors have recently modified their holdings of the stock. D.A. Davidson & CO. bought a new position in Peloton Interactive during the 2nd quarter valued at about $338,000. Voya Investment Management LLC grew its holdings in shares of Peloton Interactive by 325.5% during the third quarter. Voya Investment Management LLC now owns 429,929 shares of the company’s stock worth $3,869,000 after purchasing an additional 328,894 shares during the last quarter. Jupiter Asset Management Ltd. grew its holdings in Peloton Interactive by 322.9% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 1,563,249 shares of the company’s stock worth $14,069,000 after acquiring an additional 1,193,597 shares during the last quarter. Lisanti Capital Growth LLC acquired a new stake in Peloton Interactive in the 3rd quarter valued at about $2,429,000. Finally, Geode Capital Management LLC increased its position in Peloton Interactive by 5.7% in the 2nd quarter. Geode Capital Management LLC now owns 9,141,542 shares of the company’s stock valued at $63,450,000 after acquiring an additional 490,353 shares in the last quarter. Institutional investors own 77.01% of the company’s stock.

Peloton Interactive Company Profile

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.