BMO Capital Markets Reaffirms “Market Perform” Rating for Peloton Interactive (NASDAQ:PTON)

BMO Capital Markets reiterated their market perform rating on shares of Peloton Interactive (NASDAQ:PTON) in a research report report published on Tuesday morning, Benzinga reports. The firm currently has a $6.50 price objective on the stock.

Other equities analysts also recently issued reports about the company. Morgan Stanley lifted their target price on Peloton Interactive from $2.50 to $3.50 and gave the company an equal weight rating in a research note on Friday, August 23rd. Wolfe Research initiated coverage on Peloton Interactive in a research note on Tuesday, July 16th. They set a peer perform rating for the company. Roth Mkm increased their target price on Peloton Interactive from $5.00 to $6.00 and gave the stock a buy rating in a research report on Friday, August 23rd. Needham & Company LLC reissued a hold rating on shares of Peloton Interactive in a report on Thursday, August 22nd. Finally, Macquarie reaffirmed a neutral rating and issued a $2.53 price objective on shares of Peloton Interactive in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $4.60.

Peloton Interactive Price Performance

Peloton Interactive stock opened at $4.66 on Tuesday. Peloton Interactive has a 12-month low of $2.70 and a 12-month high of $7.24. The firm’s fifty day moving average price is $4.11 and its 200 day moving average price is $3.81. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of -2.21 and a beta of 2.04.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings data 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 previous year, the company earned ($0.68) EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year. Analysts forecast that Peloton Interactive will post -0.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Chris Bruzzo sold 15,113 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $3.42, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Peloton Interactive news, CEO Chris Bruzzo sold 15,113 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were 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 of the company’s stock, valued at approximately $333,220.86. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nick V. Caldwell acquired 31,337 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were acquired at an average price of $4.25 per share, with a total value of $133,182.25. Following the completion of the transaction, the insider now directly owns 31,337 shares in the company, valued at approximately $133,182.25. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 158,016 shares of company stock worth $722,587. 3.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Peloton Interactive

Several institutional investors and hedge funds have recently modified their holdings of PTON. SG Americas Securities LLC boosted its stake in shares of Peloton Interactive by 122.4% during the 3rd quarter. SG Americas Securities LLC now owns 323,478 shares of the company’s stock worth $1,514,000 after acquiring an additional 178,037 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in Peloton Interactive by 99.8% during the second quarter. Cubist Systematic Strategies LLC now owns 56,208 shares of the company’s stock worth $190,000 after purchasing an additional 28,070 shares during the period. Algert Global LLC acquired a new position in Peloton Interactive during the second quarter valued at approximately $113,000. Clearline Capital LP bought a new position in shares of Peloton Interactive in the second quarter valued at approximately $7,527,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Peloton Interactive in the second quarter worth $190,000. Institutional investors and hedge funds own 77.01% of the company’s stock.

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.