Peloton Interactive (NASDAQ:PTON) Stock Price Up 7.4% – Still a Buy?

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) shot up 7.4% during trading on Tuesday . The company traded as high as $4.08 and last traded at $4.2210. 2,674,239 shares were traded during trading, a decline of 79% from the average session volume of 12,908,289 shares. The stock had previously closed at $3.93.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PTON shares. UBS Group restated a “buy” rating on shares of Peloton Interactive in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. cut their price objective on shares of Peloton Interactive from $9.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday, February 6th. Guggenheim began coverage on Peloton Interactive in a report on Wednesday, December 10th. They set a “neutral” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Peloton Interactive in a research note on Friday, January 9th. Finally, Telsey Advisory Group dropped their price target on Peloton Interactive from $8.00 to $6.00 and set a “market perform” rating for the company in a report on Friday, February 6th. Seven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Peloton Interactive currently has an average rating of “Hold” and a consensus target price of $8.42.

Peloton Interactive Trading Up 3.9%

The stock has a market capitalization of $1.74 billion, a P/E ratio of -31.35, a P/E/G ratio of 0.76 and a beta of 2.47. The business has a 50-day moving average price of $4.75 and a two-hundred day moving average price of $6.33.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings results on Thursday, February 5th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). During the same quarter last year, the business earned ($0.24) earnings per share. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, sell-side analysts forecast that Peloton Interactive, Inc. will post -0.36 earnings per share for the current fiscal year.

Insider Activity at Peloton Interactive

In related news, insider Jennifer Cunningham Cotter sold 154,497 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $4.41, for a total transaction of $681,331.77. Following the sale, the insider owned 100,269 shares in the company, valued at approximately $442,186.29. This trade represents a 60.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Elizabeth F. Coddington sold 21,819 shares of Peloton Interactive stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $3.87, for a total transaction of $84,439.53. Following the completion of the transaction, the chief financial officer directly owned 346,535 shares in the company, valued at $1,341,090.45. This trade represents a 5.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,052,924 shares of company stock worth $4,823,092 in the last 90 days. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vident Advisory LLC raised its stake in Peloton Interactive by 1.1% during the second quarter. Vident Advisory LLC now owns 110,258 shares of the company’s stock worth $765,000 after acquiring an additional 1,180 shares in the last quarter. Cresset Asset Management LLC grew its holdings in shares of Peloton Interactive by 11.9% during the 3rd quarter. Cresset Asset Management LLC now owns 12,748 shares of the company’s stock valued at $115,000 after purchasing an additional 1,354 shares during the last quarter. Kirr Marbach & Co. LLC IN increased its position in Peloton Interactive by 0.3% during the 3rd quarter. Kirr Marbach & Co. LLC IN now owns 471,946 shares of the company’s stock worth $4,248,000 after purchasing an additional 1,464 shares in the last quarter. Vise Technologies Inc. lifted its stake in Peloton Interactive by 10.3% in the 3rd quarter. Vise Technologies Inc. now owns 15,680 shares of the company’s stock valued at $141,000 after purchasing an additional 1,466 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Peloton Interactive by 6.0% in the third quarter. Principal Financial Group Inc. now owns 27,126 shares of the company’s stock valued at $244,000 after buying an additional 1,526 shares in the last quarter. Institutional investors 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.