Peloton Interactive (NASDAQ:PTON) Upgraded at Zacks Research

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

A number of other equities analysts have also recently commented on the company. Morgan Stanley increased their target price on Peloton Interactive from $6.00 to $6.50 and gave the company an “equal weight” rating in a report on Wednesday, November 19th. 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. Wall Street Zen downgraded shares of Peloton Interactive from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Citigroup decreased their target price on shares of Peloton Interactive from $9.50 to $8.25 and set a “neutral” rating on the stock in a research note on Thursday, November 20th. Finally, Macquarie raised their target price on Peloton Interactive from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.86.

Peloton Interactive Stock Down 0.5%

PTON opened at $5.84 on Monday. The company has a market cap of $2.44 billion, a P/E ratio of -20.86, a price-to-earnings-growth ratio of 1.77 and a beta of 2.40. The firm’s 50-day moving average price is $6.37 and its 200-day moving average price is $7.14. Peloton Interactive has a 52-week low of $4.63 and a 52-week high of $10.25.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly 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 during the quarter, compared to analyst estimates of $540.61 million. The company’s revenue was down 6.0% on a year-over-year basis. On average, research analysts anticipate that Peloton Interactive will post -0.36 EPS for the current fiscal year.

Insider Buying and Selling at Peloton Interactive

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 21,820 shares of the stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $6.31, for a total value of $137,684.20. Following the sale, the chief financial officer owned 346,535 shares of the company’s stock, valued at $2,186,635.85. This trade represents a 5.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Charles Peter Kirol sold 22,520 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $6.47, for a total transaction of $145,704.40. Following the completion of the sale, the chief operating officer directly owned 81,001 shares in the company, valued at approximately $524,076.47. This trade represents a 21.75% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 1,107,129 shares of company stock valued at $7,708,694. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

A number of institutional investors and hedge funds have recently modified their holdings of PTON. Vident Advisory LLC raised 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 acquiring an additional 1,180 shares in the last quarter. Cresset Asset Management LLC lifted its holdings in shares of Peloton Interactive by 11.9% in the 3rd quarter. Cresset Asset Management LLC now owns 12,748 shares of the company’s stock valued at $115,000 after purchasing an additional 1,354 shares during the last quarter. Kirr Marbach & Co. LLC IN lifted its stake in Peloton Interactive by 0.3% in the third quarter. Kirr Marbach & Co. LLC IN now owns 471,946 shares of the company’s stock valued at $4,248,000 after buying an additional 1,464 shares during the last quarter. Vise Technologies Inc. boosted its holdings in shares of Peloton Interactive by 10.3% in the third quarter. Vise Technologies Inc. now owns 15,680 shares of the company’s stock valued at $141,000 after acquiring an additional 1,466 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of Peloton Interactive by 6.0% during the third quarter. Principal Financial Group Inc. now owns 27,126 shares of the company’s stock worth $244,000 after acquiring an additional 1,526 shares during the last quarter. 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.