Peloton Interactive (NASDAQ:PTON) Stock Rating Lowered by Wall Street Zen

Peloton Interactive (NASDAQ:PTON) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Several other research analysts have also commented on PTON. Canaccord Genuity Group restated a “buy” rating and set a $10.00 price target on shares of Peloton Interactive in a research report on Thursday, October 2nd. Morgan Stanley raised their target price on Peloton Interactive from $6.00 to $6.50 and gave the company an “equal weight” rating in a report on Wednesday, November 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Peloton Interactive in a research report on Tuesday, October 14th. Truist Financial increased their price target on shares of Peloton Interactive from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Finally, Citigroup lowered their price objective on shares of Peloton Interactive from $9.50 to $8.25 and set a “neutral” rating for the company in a research note on Thursday, November 20th. Eight equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $9.86.

Peloton Interactive Price Performance

Shares of PTON opened at $6.84 on Friday. The firm has a 50-day simple moving average of $6.64 and a two-hundred day simple moving average of $7.18. The stock has a market cap of $2.86 billion, a PE ratio of -24.43, a P/E/G ratio of 2.06 and a beta of 2.40. Peloton Interactive has a 1-year low of $4.63 and a 1-year high of $10.25.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. The company had revenue of $550.80 million during the quarter, compared to analyst estimates of $540.61 million. The business’s quarterly revenue was down 6.0% on a year-over-year basis. As a group, sell-side analysts expect that Peloton Interactive will post -0.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Peloton Interactive

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 238,014 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $7.18, for a total transaction of $1,708,940.52. Following the completion of the transaction, the chief financial officer owned 346,535 shares in the company, valued at $2,488,121.30. The trade was a 40.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Saqib Baig sold 42,267 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $7.25, for a total transaction of $306,435.75. Following the completion of the sale, the chief accounting officer directly owned 193,052 shares in the company, valued at approximately $1,399,627. This represents a 17.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 998,452 shares of company stock valued at $6,988,068. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Peloton Interactive

A number of institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada grew its stake in Peloton Interactive by 342.6% during the 1st quarter. Royal Bank of Canada now owns 616,367 shares of the company’s stock worth $3,896,000 after buying an additional 477,106 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Peloton Interactive by 2.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 290,981 shares of the company’s stock valued at $1,839,000 after acquiring an additional 6,921 shares during the period. NewEdge Advisors LLC grew its position in shares of Peloton Interactive by 3,132.6% during the first quarter. NewEdge Advisors LLC now owns 15,549 shares of the company’s stock worth $98,000 after acquiring an additional 15,068 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Peloton Interactive by 27.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,056,642 shares of the company’s stock valued at $44,598,000 after acquiring an additional 1,503,680 shares during the period. Finally, Caxton Associates LLP acquired a new position in shares of Peloton Interactive in the 1st quarter valued at $282,000. Institutional investors and hedge funds own 77.01% of the company’s stock.

Peloton Interactive Company Profile

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.