Peloton Interactive (NASDAQ:PTON) Downgraded to Neutral at Citigroup

Citigroup downgraded shares of Peloton Interactive (NASDAQ:PTON) from a buy rating to a neutral rating in a research report sent to investors on Monday morning, Marketbeat Ratings reports. They currently have $4.00 target price on the stock, down from their prior target price of $8.00.

Other equities analysts also recently issued reports about the stock. Robert W. Baird decreased their price objective on shares of Peloton Interactive from $5.00 to $3.50 and set a neutral rating on the stock in a report on Friday, May 3rd. Sanford C. Bernstein lowered Peloton Interactive from an outperform rating to a market perform rating and cut their price objective for the stock from $8.00 to $3.80 in a research note on Friday, May 3rd. BMO Capital Markets decreased their target price on Peloton Interactive from $7.50 to $6.50 and set a market perform rating on the stock in a research report on Friday, May 3rd. Truist Financial dropped their price target on Peloton Interactive from $7.00 to $6.00 and set a hold rating for the company in a research report on Friday, February 2nd. Finally, Bank of America decreased their price objective on Peloton Interactive from $4.00 to $3.25 and set an underperform rating on the stock in a report on Monday, April 29th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $5.11.

Peloton Interactive Stock Performance

PTON opened at $4.46 on Monday. The company has a fifty day moving average of $3.88 and a two-hundred day moving average of $4.85. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -2.11 and a beta of 2.01. Peloton Interactive has a fifty-two week low of $2.70 and a fifty-two week high of $9.87.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). The company had revenue of $717.70 million during the quarter, compared to the consensus estimate of $720.85 million. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.79) earnings per share. On average, equities research analysts forecast that Peloton Interactive will post -1.61 earnings per share for the current year.

Insider Transactions at Peloton Interactive

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 shares were sold at an average price of $4.34, for a total transaction of $38,960.18. Following the transaction, the chief financial officer now directly owns 104,428 shares of the company’s stock, 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

Several institutional investors have recently modified their holdings of PTON. Johnson & White Wealth Management LLC purchased a new position in shares of Peloton Interactive during the 1st quarter worth $43,000. Abundance Wealth Counselors acquired a new position in Peloton Interactive in the first quarter valued at $46,000. Rakuten Securities Inc. purchased a new position in Peloton Interactive during the fourth quarter worth about $47,000. Carl P. Sherr & Co. LLC acquired a new stake in Peloton Interactive in the 3rd quarter worth about $55,000. Finally, Clear Harbor Asset Management LLC purchased a new stake in Peloton Interactive in the 4th quarter valued at about $78,000. 77.01% of the stock is currently owned by institutional investors and hedge funds.

Peloton Interactive Company Profile

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.