Peloton Interactive (NASDAQ:PTON) Price Target Raised to $6.00 at Roth Mkm

Peloton Interactive (NASDAQ:PTON) had its price target raised by research analysts at Roth Mkm from $5.00 to $6.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Roth Mkm’s price objective would indicate a potential upside of 25.52% from the stock’s previous close.

Several other brokerages have also commented on PTON. TD Cowen increased their price target on shares of Peloton Interactive from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Friday. Morgan Stanley increased their target price on shares of Peloton Interactive from $2.50 to $3.50 and gave the stock an “equal weight” rating in a research report on Friday. Wolfe Research started coverage on Peloton Interactive in a research report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Macquarie reissued a “neutral” rating and set a $2.53 price objective on shares of Peloton Interactive in a report on Thursday. Finally, JMP Securities restated a “market perform” rating on shares of Peloton Interactive in a report on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $4.82.

Peloton Interactive Price Performance

PTON traded up $0.23 during trading on Friday, reaching $4.78. 32,967,195 shares of the stock traded hands, compared to its average volume of 15,694,009. The stock’s 50-day simple moving average is $3.46 and its two-hundred day simple moving average is $3.77. Peloton Interactive has a fifty-two week low of $2.70 and a fifty-two week high of $7.24. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of -2.27 and a beta of 2.02.

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

Insider Buying and Selling

In other Peloton Interactive news, CEO Chris Bruzzo sold 15,113 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $3.42, for a total value of $51,686.46. Following the completion of the sale, the chief executive officer now owns 97,433 shares in the company, valued at approximately $333,220.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Elizabeth F. Coddington sold 8,923 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $3.68, for a total value of $32,836.64. Following the completion of the transaction, the chief financial officer now owns 186,466 shares of the company’s stock, valued at $686,194.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Chris Bruzzo sold 15,113 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $3.42, for a total transaction of $51,686.46. Following the sale, the chief executive officer now directly owns 97,433 shares in the company, valued at $333,220.86. The disclosure for this sale can be found here. Insiders have sold a total of 53,813 shares of company stock valued at $187,715 over the last three months. 3.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. DME Capital Management LP bought a new position in shares of Peloton Interactive in the second quarter worth about $22,947,000. Capital World Investors boosted its holdings in Peloton Interactive by 17.6% in the fourth quarter. Capital World Investors now owns 26,259,325 shares of the company’s stock valued at $159,919,000 after acquiring an additional 3,925,000 shares during the last quarter. DNB Asset Management AS raised its holdings in Peloton Interactive by 42.4% during the 2nd quarter. DNB Asset Management AS now owns 12,130,553 shares of the company’s stock worth $40,880,000 after purchasing an additional 3,611,069 shares during the last quarter. Norges Bank acquired a new position in Peloton Interactive during the 4th quarter valued at about $20,824,000. Finally, Clearline Capital LP bought a new position in shares of Peloton Interactive in the 2nd quarter valued at about $7,527,000. 77.01% of the stock is owned by institutional investors.

About Peloton Interactive

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.