Peloton Interactive (NASDAQ:PTON) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Peloton Interactive (NASDAQ:PTON) from a hold rating to a strong-buy rating in a research report released on Monday,Zacks.com reports.

Several other equities analysts have also recently commented on PTON. Guggenheim began coverage on shares of Peloton Interactive in a research note on Wednesday, December 10th. They set a “neutral” rating for the company. The Goldman Sachs Group restated a “buy” rating and set a $11.50 price target on shares of Peloton Interactive in a research report on Thursday, October 2nd. Wall Street Zen cut shares of Peloton Interactive from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Canaccord Genuity Group reissued a “buy” rating and set a $10.00 price objective on shares of Peloton Interactive in a research note on Thursday, October 2nd. Finally, Truist Financial upped their target price on Peloton Interactive from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $9.86.

Peloton Interactive Stock Performance

Peloton Interactive stock traded down $0.05 during mid-day trading on Monday, reaching $5.83. The company’s stock had a trading volume of 1,070,553 shares, compared to its average volume of 9,739,135. The firm’s fifty day moving average price is $6.39 and its two-hundred day moving average price is $7.14. Peloton Interactive has a 12-month low of $4.63 and a 12-month high of $10.25. The company has a market capitalization of $2.43 billion, a P/E ratio of -20.80, a PEG ratio of 1.80 and a beta of 2.40.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The company had revenue of $550.80 million for the quarter, compared to the consensus estimate of $540.61 million. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. On average, research analysts predict that Peloton Interactive will post -0.36 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Jennifer Cunningham Cotter sold 131,495 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $6.64, for a total value of $873,126.80. Following the completion of the sale, the insider owned 100,269 shares of the company’s stock, valued at approximately $665,786.16. This represents a 56.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nick V. Caldwell sold 25,135 shares of Peloton Interactive stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $7.00, for a total transaction of $175,945.00. Following the completion of the transaction, the insider owned 739,085 shares in the company, valued at approximately $5,173,595. The trade was a 3.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,107,129 shares of company stock worth $7,708,694 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Peloton Interactive

Several institutional investors have recently added to or reduced their stakes in the business. D.A. Davidson & CO. purchased a new stake in Peloton Interactive in the 2nd quarter worth approximately $338,000. Voya Investment Management LLC raised its holdings in shares of Peloton Interactive by 325.5% during the third quarter. Voya Investment Management LLC now owns 429,929 shares of the company’s stock valued at $3,869,000 after acquiring an additional 328,894 shares in the last quarter. Eminence Capital LP purchased a new stake in Peloton Interactive in the second quarter worth $112,681,000. Geode Capital Management LLC lifted its stake in Peloton Interactive by 5.7% in the second quarter. Geode Capital Management LLC now owns 9,141,542 shares of the company’s stock worth $63,450,000 after acquiring an additional 490,353 shares during the period. Finally, Pacer Advisors Inc. bought a new stake in Peloton Interactive in the third quarter valued at $17,387,000. 77.01% of the stock is currently owned by hedge funds and other institutional investors.

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.