Zacks Investment Research Upgrades Peloton (NASDAQ:PTON) to Buy

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Zacks Investment Research upgraded shares of Peloton (NASDAQ:PTON) from a hold rating to a buy rating in a report published on Tuesday, Zacks.com reports. They currently have $31.00 price objective on the stock.

According to Zacks, “Peloton Interactive creates fitness products. The brand’s content is accessible through the Peloton Bike, the Peloton Tread, and Peloton Digital, which provides a full slate of fitness offerings, anytime, anywhere, through IOS and Android as well as most tablets and computers. “

Several other research firms have also recently weighed in on PTON. Wolfe Research upgraded shares of Peloton from an underperform rating to a market perform rating in a report on Monday, October 21st. Cowen assumed coverage on shares of Peloton in a report on Monday, October 21st. They set an outperform rating and a $34.00 price target on the stock. Oppenheimer boosted their price target on shares of Peloton from $29.00 to $38.00 and gave the stock an outperform rating in a report on Tuesday, December 10th. Telsey Advisory Group began coverage on shares of Peloton in a report on Monday, October 21st. They set an outperform rating and a $29.00 price target on the stock. Finally, Evercore ISI began coverage on shares of Peloton in a research report on Monday, October 21st. They issued an outperform rating and a $30.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $35.95.

Peloton stock opened at $27.66 on Tuesday. Peloton has a fifty-two week low of $20.46 and a fifty-two week high of $37.02. The stock’s 50-day moving average price is $29.93. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.01 and a current ratio of 3.47.

Peloton (NASDAQ:PTON) last released its quarterly earnings results on Wednesday, February 5th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.12. The firm had revenue of $466.30 million for the quarter, compared to analysts’ expectations of $423.74 million. During the same quarter last year, the firm posted ($4.83) earnings per share. The firm’s revenue for the quarter was up 77.4% compared to the same quarter last year. As a group, research analysts anticipate that Peloton will post -0.99 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of PTON. Baillie Gifford & Co. increased its holdings in Peloton by 100.6% during the 4th quarter. Baillie Gifford & Co. now owns 13,740,846 shares of the company’s stock worth $390,241,000 after acquiring an additional 6,892,025 shares during the period. Gilder Gagnon Howe & Co. LLC bought a new stake in Peloton during the 3rd quarter worth approximately $79,603,000. Franklin Resources Inc. increased its holdings in Peloton by 68.7% during the 4th quarter. Franklin Resources Inc. now owns 2,736,200 shares of the company’s stock worth $77,694,000 after acquiring an additional 1,114,100 shares during the period. Soros Fund Management LLC bought a new stake in Peloton during the 3rd quarter worth approximately $39,533,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in Peloton during the 3rd quarter worth approximately $35,993,000. 21.50% of the stock is currently owned by institutional investors.

Peloton Company Profile

Peloton Interactive, Inc provides interactive fitness products in North America. It offers connected fitness products, such as the Peloton Bike and the Peloton Tread, which include touchscreen that streams live and on-demand classes. The company also provides connected fitness subscriptions for multiple household users, and access to all live and on-demand classes, as well as Peloton Digital app for connected fitness subscribers to provide access to its classes.

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Analyst Recommendations for Peloton (NASDAQ:PTON)

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