Peloton Interactive (NASDAQ:PTON) Price Target Increased to $3.50 by Analysts at Morgan Stanley

Peloton Interactive (NASDAQ:PTON) had its price objective boosted by Morgan Stanley from $2.50 to $3.50 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential downside of 23.25% from the company’s current price.

A number of other equities research analysts have also recently weighed in on PTON. Roth Mkm dropped their price target on Peloton Interactive from $7.00 to $5.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Oppenheimer reaffirmed an “outperform” rating on shares of Peloton Interactive in a research note on Tuesday, May 7th. Robert W. Baird upped their price objective on Peloton Interactive from $3.50 to $4.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Telsey Advisory Group upped their price target on Peloton Interactive from $4.00 to $5.00 and gave the company a “market perform” rating in a research note on Friday. Finally, Wolfe Research assumed coverage on Peloton Interactive in a research report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $4.76.

Peloton Interactive Stock Up 0.2 %

PTON traded up $0.01 during midday trading on Friday, reaching $4.56. 17,306,830 shares of the company’s stock were exchanged, compared to its average volume of 15,597,933. Peloton Interactive has a one year low of $2.70 and a one year high of $7.24. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of -2.16 and a beta of 2.02. The business has a 50-day simple moving average of $3.46 and a two-hundred day simple moving average of $3.77.

Peloton Interactive (NASDAQ:PTON) last issued its earnings results on Thursday, August 22nd. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.10. The firm had revenue of $644.00 million during the quarter, compared to analyst estimates of $633.00 million. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.68) EPS. As a group, research analysts anticipate that Peloton Interactive will post -1.63 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Chris Bruzzo sold 15,113 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $3.42, for a total value of $51,686.46. Following the completion of the transaction, the chief executive officer now owns 97,433 shares in the company, valued at $333,220.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Karen Boone sold 14,841 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $3.31, for a total value of $49,123.71. Following the sale, the chief executive officer now directly owns 116,171 shares in the company, valued at $384,526.01. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Chris Bruzzo sold 15,113 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $3.42, for a total value of $51,686.46. Following the transaction, the chief executive officer now owns 97,433 shares of the company’s stock, valued at $333,220.86. The disclosure for this sale can be found here. In the last three months, insiders sold 53,813 shares of company stock valued at $187,715. 3.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Peloton Interactive

A number of large investors have recently bought and sold shares of PTON. International Assets Investment Management LLC raised its holdings in shares of Peloton Interactive by 293.5% in the fourth quarter. International Assets Investment Management LLC now owns 57,928 shares of the company’s stock valued at $353,000 after purchasing an additional 43,207 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Peloton Interactive by 18.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,585 shares of the company’s stock worth $369,000 after buying an additional 9,535 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Peloton Interactive during the 4th quarter worth about $285,000. Syon Capital LLC acquired a new stake in shares of Peloton Interactive in the fourth quarter valued at about $122,000. Finally, State of New Jersey Common Pension Fund D raised its holdings in Peloton Interactive by 11.8% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 447,676 shares of the company’s stock worth $2,726,000 after acquiring an additional 47,293 shares in the last quarter. Institutional investors and hedge funds own 77.01% of the company’s stock.

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.