Macquarie Lowers Peloton Interactive (NASDAQ:PTON) Price Target to $2.53

Peloton Interactive (NASDAQ:PTON) had its price objective reduced by equities researchers at Macquarie from $4.50 to $2.53 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Macquarie’s price objective suggests a potential downside of 26.13% from the stock’s current price.

PTON has been the topic of several other reports. Telsey Advisory Group restated a “market perform” rating and set a $4.00 target price (down from $5.00) on shares of Peloton Interactive in a research note on Monday, April 29th. Needham & Company LLC restated a “hold” rating on shares of Peloton Interactive in a report on Friday. Roth Mkm lowered their target price on shares of Peloton Interactive from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Friday. JPMorgan Chase & Co. cut their price target on shares of Peloton Interactive from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Friday, February 2nd. Finally, Morgan Stanley initiated coverage on shares of Peloton Interactive in a research note on Monday, March 11th. They set an “equal weight” rating and a $3.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $6.15.

Peloton Interactive Stock Performance

NASDAQ:PTON opened at $3.43 on Friday. The company’s 50-day simple moving average is $3.93 and its 200-day simple moving average is $4.87. 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 P/E ratio of -1.62 and a beta of 2.01.

Peloton Interactive (NASDAQ:PTON) last announced its earnings results on Thursday, May 2nd. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.06). The business had revenue of $717.70 million for the quarter, compared to the consensus estimate of $720.85 million. During the same period last year, the business posted ($0.79) EPS. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, research analysts forecast that Peloton Interactive will post -1.61 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Elizabeth F. Coddington sold 8,977 shares of Peloton Interactive stock in a transaction that occurred on Thursday, March 14th. The shares were 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 of the company’s stock, valued at approximately $453,217.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 3.28% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

Institutional investors have recently modified their holdings of the business. Johnson & White Wealth Management LLC purchased a new position in Peloton Interactive during the first quarter worth approximately $43,000. Abundance Wealth Counselors purchased a new position in shares of Peloton Interactive during the 1st quarter valued at approximately $46,000. Rakuten Securities Inc. acquired a new stake in Peloton Interactive in the 4th quarter valued at $47,000. Carl P. Sherr & Co. LLC purchased a new stake in Peloton Interactive in the 3rd quarter worth $55,000. Finally, Clear Harbor Asset Management LLC acquired a new position in Peloton Interactive during the fourth quarter worth $78,000. 77.01% of the stock is currently owned by institutional investors and hedge funds.

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.