Peloton Interactive (NASDAQ:PTON) Given Hold Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Peloton Interactive (NASDAQ:PTON) in a report published on Friday morning, Benzinga reports.

A number of other research analysts have also recently commented on the company. Telsey Advisory Group restated a market perform rating and set a $4.00 price objective (down previously from $5.00) on shares of Peloton Interactive in a research note on Monday, April 29th. The Goldman Sachs Group lowered their price objective on Peloton Interactive from $6.50 to $5.75 and set a neutral rating for the company in a report on Friday, February 2nd. Bank of America lowered their price objective on Peloton Interactive from $4.00 to $3.25 and set an underperform rating for the company in a report on Monday, April 29th. JPMorgan Chase & Co. lowered their target price on Peloton Interactive from $9.00 to $8.00 and set an overweight rating for the company in a report on Friday, February 2nd. Finally, Sanford C. Bernstein downgraded Peloton Interactive from an outperform rating to a market perform rating and cut their target price for the stock from $8.00 to $3.80 in a research report on Friday. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Peloton Interactive currently has an average rating of Hold and an average price target of $5.70.

Peloton Interactive Price Performance

PTON traded up $0.04 during trading on Friday, reaching $3.47. 2,416,946 shares of the stock were exchanged, compared to its average volume of 14,783,824. Peloton Interactive has a 1 year low of $2.70 and a 1 year high of $9.87. The business’s 50 day moving average price is $3.93 and its two-hundred day moving average price is $4.87. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -1.62 and a beta of 2.01.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). The firm had revenue of $717.70 million for the quarter, compared to analyst estimates of $720.85 million. During the same period in the previous year, the business posted ($0.79) EPS. Peloton Interactive’s quarterly revenue was down 4.2% on a year-over-year basis. On average, analysts anticipate that Peloton Interactive will post -1.61 EPS for the current year.

Insider Activity

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,977 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $4.34, for a total value of $38,960.18. Following the transaction, the chief financial officer now owns 104,428 shares in the company, valued at approximately $453,217.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.28% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Rakuten Securities Inc. acquired a new position in shares of Peloton Interactive in the fourth quarter valued at approximately $47,000. Johnson & White Wealth Management LLC purchased a new stake in Peloton Interactive during the first quarter valued at about $43,000. Abundance Wealth Counselors purchased a new stake in Peloton Interactive during the first quarter valued at about $46,000. Carl P. Sherr & Co. LLC purchased a new stake in Peloton Interactive during the third quarter valued at about $55,000. Finally, Clear Harbor Asset Management LLC purchased a new stake in shares of Peloton Interactive in the fourth quarter worth about $78,000. Institutional investors and hedge funds own 77.01% of the company’s stock.

About Peloton Interactive

Peloton Interactive, Inc operates interactive fitness platform in North America and internationally. The company offers connected fitness products with touchscreen that streams live and on-demand classes under the Peloton Bike, Peloton Bike+, Peloton Tread, Peloton Tread+, Peloton Guide, and Peloton Row names.