Peloton Interactive (NASDAQ:PTON) Announces Quarterly Earnings Results

Peloton Interactive (NASDAQ:PTON) issued its quarterly earnings results on Thursday. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06), Briefing.com reports. The business had revenue of $717.70 million for the quarter, compared to the consensus estimate of $720.85 million. The company’s revenue was down 4.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.79) earnings per share.

Peloton Interactive Stock Performance

Shares of NASDAQ:PTON traded up $0.29 during midday trading on Friday, hitting $3.43. The company’s stock had a trading volume of 34,797,791 shares, compared to its average volume of 14,415,963. Peloton Interactive has a fifty-two week low of $2.70 and a fifty-two week high of $9.87. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -1.62 and a beta of 2.01. The stock’s 50 day simple moving average is $3.93 and its 200 day simple moving average is $4.87.

Insider Activity at Peloton Interactive

In other news, CFO Elizabeth F. Coddington sold 8,977 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $4.34, for a total transaction of $38,960.18. Following the completion of the transaction, the chief financial officer now directly owns 104,428 shares in the company, valued at $453,217.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.28% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PTON. The Goldman Sachs Group reduced their target price on shares of Peloton Interactive from $5.75 to $3.50 and set a “neutral” rating for the company in a report on Friday. Robert W. Baird decreased their target price on Peloton Interactive from $5.00 to $3.50 and set a “neutral” rating on the stock in a report on Friday. Bank of America reduced their target price on Peloton Interactive from $4.00 to $3.25 and set an “underperform” rating for the company in a report on Monday, April 29th. Needham & Company LLC restated a “hold” rating on shares of Peloton Interactive in a report on Friday. Finally, BMO Capital Markets decreased their target price on shares of Peloton Interactive from $7.50 to $6.50 and set a “market perform” rating for the company in a report on Friday. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $6.15.

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.