Truist Financial Issues Positive Forecast for Peloton Interactive (NASDAQ:PTON) Stock Price

Peloton Interactive (NASDAQ:PTON) had its price objective hoisted by Truist Financial from $6.00 to $10.00 in a research report released on Friday, Benzinga reports. Truist Financial currently has a hold rating on the stock.

Several other brokerages also recently commented on PTON. Telsey Advisory Group lifted their target price on shares of Peloton Interactive from $5.00 to $9.00 and gave the stock a “market perform” rating in a research note on Friday. Wolfe Research assumed coverage on shares of Peloton Interactive in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. TD Cowen boosted their price objective on shares of Peloton Interactive from $3.00 to $4.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Needham & Company LLC reissued a “hold” rating on shares of Peloton Interactive in a research report on Friday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Peloton Interactive from $5.00 to $7.00 and gave the company a “neutral” rating in a report on Friday. Sixteen research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $6.57.

Peloton Interactive Stock Performance

NASDAQ PTON opened at $7.51 on Friday. Peloton Interactive has a 52-week low of $2.70 and a 52-week high of $8.92. The company has a 50-day simple moving average of $5.17 and a 200 day simple moving average of $4.10.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The firm had revenue of $586.00 million for the quarter, compared to the consensus estimate of $572.97 million. During the same period in the prior year, the business earned ($0.44) EPS. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, analysts anticipate that Peloton Interactive will post -0.65 earnings per share for the current year.

Insider Buying and Selling at Peloton Interactive

In other Peloton Interactive news, CEO Karen Boone sold 13,484 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $8.27, for a total transaction of $111,512.68. Following the transaction, the chief executive officer now owns 211,459 shares in the company, valued at approximately $1,748,765.93. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Peloton Interactive news, CAO Saqib Baig sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $4.88, for a total value of $244,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 87,014 shares in the company, valued at $424,628.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Karen Boone sold 13,484 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $8.27, for a total value of $111,512.68. Following the completion of the transaction, the chief executive officer now owns 211,459 shares of the company’s stock, valued at $1,748,765.93. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 194,888 shares of company stock worth $1,038,717. Company insiders own 1.34% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DME Capital Management LP bought a new stake in Peloton Interactive in the second quarter worth $22,947,000. DNB Asset Management AS lifted its holdings in shares of Peloton Interactive by 42.4% during the second 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 period. Clearline Capital LP purchased a new position in Peloton Interactive during the second quarter valued at approximately $7,527,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Peloton Interactive in the first quarter valued at approximately $5,877,000. Finally, Vanguard Group Inc. increased its position in shares of Peloton Interactive by 4.0% in the first quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company’s stock valued at $135,212,000 after buying an additional 1,215,397 shares in the last quarter. 77.01% of the stock is currently owned by institutional investors.

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.