Peloton Interactive, Inc. (NASDAQ:PTON) Receives Consensus Rating of “Hold” from Brokerages

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) have been assigned an average recommendation of “Hold” from the seventeen brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $9.8625.

Several equities analysts recently issued reports on PTON shares. Canaccord Genuity Group restated a “buy” rating and set a $10.00 price target on shares of Peloton Interactive in a research report on Thursday, October 2nd. Zacks Research lowered Peloton Interactive from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th. Morgan Stanley raised their target price 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. The Goldman Sachs Group reiterated a “buy” rating and set a $11.50 price target on shares of Peloton Interactive in a report on Thursday, October 2nd. Finally, Guggenheim initiated coverage on shares of Peloton Interactive in a research report on Wednesday, December 10th. They set a “neutral” rating for the company.

Insider Activity at Peloton Interactive

In related news, insider Jennifer Cunningham Cotter sold 131,495 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $6.64, for a total value of $873,126.80. Following the sale, the insider directly owned 100,269 shares of the company’s stock, valued at $665,786.16. This trade represents a 56.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Saqib Baig sold 10,000 shares of the business’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $6.87, for a total value of $68,700.00. Following the transaction, the chief accounting officer owned 170,665 shares in the company, valued at approximately $1,172,468.55. This represents a 5.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,107,129 shares of company stock valued at $7,708,694 in the last quarter. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Peloton Interactive

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

Peloton Interactive Stock Down 0.2%

Shares of NASDAQ:PTON opened at $5.80 on Friday. The stock has a market cap of $2.42 billion, a PE ratio of -20.71, a PEG ratio of 1.75 and a beta of 2.40. The company’s fifty day moving average is $6.44 and its 200 day moving average is $7.15. Peloton Interactive has a 52 week low of $4.63 and a 52 week high of $10.25.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02. The business had revenue of $550.80 million for the quarter, compared to analysts’ expectations of $540.61 million. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. Sell-side analysts anticipate that Peloton Interactive will post -0.36 EPS for the current year.

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.