Macquarie Raises Peloton Interactive (NASDAQ:PTON) Price Target to $9.00

Peloton Interactive (NASDAQ:PTON) had its price target upped by research analysts at Macquarie from $4.90 to $9.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Macquarie’s price objective would indicate a potential upside of 24.14% from the stock’s previous close.

PTON has been the subject of several other reports. Morgan Stanley lifted their price target on Peloton Interactive from $3.50 to $5.00 and gave the stock an “equal weight” rating in a report on Friday. Wolfe Research initiated coverage on Peloton Interactive in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Needham & Company LLC restated a “hold” rating on shares of Peloton Interactive in a research note on Friday. BMO Capital Markets reaffirmed a “market perform” rating and set a $6.50 price target on shares of Peloton Interactive in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Peloton Interactive from $5.00 to $7.00 and gave the company a “neutral” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $6.05.

Peloton Interactive Price Performance

PTON stock opened at $7.25 on Friday. Peloton Interactive has a one year low of $2.70 and a one year high of $8.92. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of -6.78 and a beta of 1.92. The company has a fifty day moving average price of $5.11 and a two-hundred day moving average price of $4.07.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The company had revenue of $586.00 million for the quarter, compared to analyst estimates of $572.97 million. The business’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.44) EPS. Research analysts anticipate that Peloton Interactive will post -0.65 EPS for the current fiscal year.

Insider Transactions at Peloton Interactive

In other news, CEO Chris Bruzzo sold 24,977 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $5.80, for a total value of $144,866.60. Following the completion of the transaction, the chief executive officer now owns 149,240 shares of the company’s stock, valued at approximately $865,592. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Elizabeth F. Coddington sold 36,819 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $4.74, for a total transaction of $174,522.06. Following the sale, the chief financial officer now owns 171,466 shares in the company, valued at $812,748.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Chris Bruzzo sold 24,977 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $5.80, for a total value of $144,866.60. Following the completion of the transaction, the chief executive officer now owns 149,240 shares of the company’s stock, valued at $865,592. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 167,880 shares of company stock valued at $815,767. Corporate insiders own 1.34% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PTON. Abundance Wealth Counselors increased its position in Peloton Interactive by 24.7% in the 2nd quarter. Abundance Wealth Counselors now owns 13,380 shares of the company’s stock valued at $45,000 after acquiring an additional 2,654 shares during the period. Signaturefd LLC raised its position in Peloton Interactive by 2.7% during the 2nd quarter. Signaturefd LLC now owns 113,645 shares of the company’s stock worth $384,000 after purchasing an additional 3,032 shares during the last quarter. Arizona State Retirement System grew its position in shares of Peloton Interactive by 3.8% in the 2nd quarter. Arizona State Retirement System now owns 92,781 shares of the company’s stock valued at $314,000 after buying an additional 3,377 shares during the last quarter. Kohmann Bosshard Financial Services LLC increased its stake in shares of Peloton Interactive by 50.0% in the third quarter. Kohmann Bosshard Financial Services LLC now owns 15,000 shares of the company’s stock valued at $70,000 after buying an additional 5,000 shares during the period. Finally, Commonwealth Equity Services LLC raised its position in shares of Peloton Interactive by 4.3% during the second quarter. Commonwealth Equity Services LLC now owns 133,765 shares of the company’s stock worth $452,000 after acquiring an additional 5,463 shares during 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.