Peloton Interactive (NASDAQ:PTON) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Peloton Interactive (NASDAQ:PTON) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

PTON has been the subject of a number of other research reports. Telsey Advisory Group lowered their price target on shares of Peloton Interactive from $8.00 to $6.00 and set a “market perform” rating for the company in a report on Friday, February 6th. UBS Group reissued a “buy” rating on shares of Peloton Interactive in a research report on Tuesday, February 3rd. Citigroup lowered their price target on Peloton Interactive from $8.25 to $5.00 and set a “neutral” rating for the company in a research report on Thursday, February 12th. Guggenheim assumed coverage on shares of Peloton Interactive in a research report on Wednesday, December 10th. They issued a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. dropped their target price on Peloton Interactive from $9.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday, February 6th. Seven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $8.42.

Peloton Interactive Stock Performance

NASDAQ PTON opened at $3.90 on Friday. The stock has a 50 day moving average price of $5.48 and a 200-day moving average price of $6.75. Peloton Interactive has a one year low of $3.81 and a one year high of $9.20. The company has a market capitalization of $1.66 billion, a P/E ratio of -30.00, a P/E/G ratio of 0.79 and a beta of 2.47.

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

Insider Buying and Selling

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 238,013 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $4.18, for a total value of $994,894.34. Following the completion of the sale, the chief financial officer directly owned 346,535 shares in the company, valued at $1,448,516.30. This trade represents a 40.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Saqib Baig sold 30,918 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $4.14, for a total value of $128,000.52. Following the transaction, the chief accounting officer owned 219,781 shares in the company, valued at approximately $909,893.34. This trade represents a 12.33% 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 1,079,910 shares of company stock valued at $5,144,999 over the last ninety days. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTON. Sankala Group LLC purchased a new stake in shares of Peloton Interactive in the 4th quarter valued at $31,000. Bessemer Group Inc. lifted its position in Peloton Interactive by 1,602.6% during the second 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 Peloton Interactive by 64.6% during 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. Advisory Services Network LLC purchased a new stake in Peloton Interactive in the third quarter valued at $48,000. Finally, Evolve Private Wealth LLC acquired a new stake in Peloton Interactive during the 4th quarter worth about $62,000. Hedge funds and other institutional investors 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.