Citigroup Cuts Peloton Interactive (NASDAQ:PTON) Price Target to $5.00

Peloton Interactive (NASDAQ:PTON) had its price objective reduced by Citigroup from $8.25 to $5.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts also recently commented on the stock. JPMorgan Chase & Co. reduced their price objective 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. Morgan Stanley increased their price target on shares of Peloton Interactive from $6.00 to $6.50 and gave the stock an “equal weight” rating in a research report on Wednesday, November 19th. Macquarie Infrastructure boosted their price objective on Peloton Interactive from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Tuesday, November 11th. Bank of America set a $9.00 price target on Peloton Interactive in a report on Friday, January 30th. Finally, UBS Group restated a “buy” rating on shares of Peloton Interactive in a research note on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $8.42.

Peloton Interactive Stock Performance

Shares of PTON opened at $4.25 on Thursday. Peloton Interactive has a one year low of $4.09 and a one year high of $10.25. The stock has a 50-day moving average price of $5.97 and a 200 day moving average price of $7.01. The company has a market capitalization of $1.78 billion, a P/E ratio of -32.69, a P/E/G ratio of 0.87 and a beta of 2.41.

Peloton Interactive (NASDAQ:PTON) last announced its earnings results on Thursday, February 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The business had revenue of $656.50 million during the quarter, compared to the consensus estimate of $675.04 million. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.24) earnings per share. As a group, equities research analysts forecast that Peloton Interactive will post -0.36 earnings per share for the current fiscal year.

Insider Activity at Peloton Interactive

In other news, insider Jennifer Cunningham Cotter sold 148,432 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $7.22, for a total value of $1,071,679.04. Following the completion of the transaction, the insider owned 231,764 shares of the company’s stock, valued at approximately $1,673,336.08. This represents a 39.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Elizabeth F. Coddington sold 238,014 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $7.18, for a total transaction of $1,708,940.52. Following the sale, the chief financial officer owned 346,535 shares in the company, valued at $2,488,121.30. This trade represents a 40.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,107,129 shares of company stock worth $7,708,694 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. D.A. Davidson & CO. acquired a new stake in Peloton Interactive during the 2nd quarter valued at $338,000. Voya Investment Management LLC lifted its stake in shares of Peloton Interactive by 325.5% during the 3rd quarter. Voya Investment Management LLC now owns 429,929 shares of the company’s stock worth $3,869,000 after buying an additional 328,894 shares during the last quarter. Lisanti Capital Growth LLC bought a new stake in shares of Peloton Interactive during the 3rd quarter worth about $2,429,000. Geode Capital Management LLC grew its stake 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 buying an additional 490,353 shares during the last quarter. Finally, Eminence Capital LP bought a new position in Peloton Interactive in the 2nd quarter valued at about $112,681,000. 77.01% of the stock is owned by hedge funds and other 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.