Peloton Interactive (NASDAQ:PTON) Price Target Cut to $6.50 by Analysts at The Goldman Sachs Group

Peloton Interactive (NASDAQ:PTON) had its price objective cut by The Goldman Sachs Group from $7.50 to $6.50 in a research note issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group‘s price target suggests a potential upside of 21.04% from the stock’s previous close.

PTON has been the topic of a number of other research reports. Morgan Stanley lowered shares of Peloton Interactive from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $5.00 to $4.50 in a research note on Tuesday, September 8th. UBS Group decreased their target price on shares of Peloton Interactive from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, September 8th. Telsey Advisory Group reaffirmed a “market perform” rating on shares of Peloton Interactive in a report on Monday, August 3rd. Finally, Weiss Ratings raised shares of Peloton Interactive from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 2nd. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $7.56.

Peloton Interactive Price Performance

PTON opened at $5.37 on Monday. Peloton Interactive has a 52-week low of $3.65 and a 52-week high of $7.97. The company has a 50 day moving average of $5.14 and a two-hundred day moving average of $5.48. The company has a market cap of $2.36 billion, a P/E ratio of 44.75, a P/E/G ratio of 0.42 and a beta of 2.54.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. The firm had revenue of $607.70 million for the quarter, compared to analyst estimates of $596.60 million. Peloton Interactive had a negative return on equity of 23.92% and a net margin of 2.58%. Peloton Interactive’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 EPS. Research analysts anticipate that Peloton Interactive will post 0.31 earnings per share for the current year.

Insider Activity at Peloton Interactive

In related news, COO Charles Kirol sold 28,849 shares of the company’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $5.33, for a total value of $153,765.17. Following the sale, the chief operating officer directly owned 197,334 shares of the company’s stock, valued at $1,051,790.22. This represents a 12.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Dion Sanders sold 112,512 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $5.45, for a total transaction of $613,190.40. Following the transaction, the insider owned 18,801 shares in the company, valued at $102,465.45. This trade represents a 85.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 217,712 shares of company stock worth $1,177,289 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Peloton Interactive

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. boosted its stake in shares of Peloton Interactive by 10.2% during the 1st quarter. Principal Financial Group Inc. now owns 21,263 shares of the company’s stock valued at $91,000 after buying an additional 1,967 shares during the period. NewEdge Advisors LLC grew its holdings in shares of Peloton Interactive by 21.8% during the 1st quarter. NewEdge Advisors LLC now owns 12,405 shares of the company’s stock valued at $53,000 after acquiring an additional 2,223 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Peloton Interactive by 58.9% during the 3rd quarter. GAMMA Investing LLC now owns 6,992 shares of the company’s stock valued at $35,000 after acquiring an additional 2,593 shares in the last quarter. Wealthfront Advisers LLC grew its holdings in shares of Peloton Interactive by 15.7% during the 1st quarter. Wealthfront Advisers LLC now owns 19,118 shares of the company’s stock valued at $82,000 after acquiring an additional 2,595 shares in the last quarter. Finally, Wedmont Private Capital increased its stake in shares of Peloton Interactive by 15.4% in the third quarter. Wedmont Private Capital now owns 19,633 shares of the company’s stock worth $97,000 after acquiring an additional 2,624 shares during the last quarter. Institutional investors own 77.01% of the company’s stock.

Peloton Interactive Company Profile

Peloton Interactive, Inc is a connected-fitness company that combines exercise equipment, digital content and subscription services. Its product portfolio includes the Peloton Bike, Bike+, Tread treadmill, Row rowing machine and related accessories, apparel and fitness products. The company’s equipment is designed to connect users with live and on-demand instructor-led workouts through integrated screens and digital platforms.

Peloton offers subscription memberships that provide access to classes in cycling, running, strength training, yoga, meditation, rowing and other fitness disciplines.