Peloton Interactive (NASDAQ:PTON) PT Lowered to $3.50

Peloton Interactive (NASDAQ:PTON) had its target price reduced by research analysts at The Goldman Sachs Group from $5.75 to $3.50 in a report issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 2.19% from the company’s previous close.

A number of other research firms have also weighed in on PTON. Sanford C. Bernstein lowered Peloton Interactive from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $8.00 to $3.80 in a research report on Friday. JPMorgan Chase & Co. reduced their price target on Peloton Interactive from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Friday, February 2nd. Telsey Advisory Group reissued a “market perform” rating and set a $4.00 price objective (down from $5.00) on shares of Peloton Interactive in a research report on Monday, April 29th. Robert W. Baird reduced their target price on shares of Peloton Interactive from $5.00 to $3.50 and set a “neutral” rating on the stock in a report on Friday. Finally, Bank of America lowered their price target on shares of Peloton Interactive from $4.00 to $3.25 and set an “underperform” rating for the company in a report on Monday, April 29th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $6.15.

Peloton Interactive Trading Up 9.4 %

Shares of NASDAQ PTON opened at $3.43 on Friday. The stock has a market capitalization of $1.26 billion, a PE ratio of -1.62 and a beta of 2.01. Peloton Interactive has a twelve month low of $2.70 and a twelve month high of $9.87. The stock has a fifty day simple moving average of $3.93 and a 200-day simple moving average of $4.87.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the business earned ($0.79) EPS. Peloton Interactive’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, equities analysts predict that Peloton Interactive will post -1.61 earnings per share for the current year.

Insider Activity

In related news, CFO Elizabeth F. Coddington sold 8,977 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $4.34, for a total value of $38,960.18. Following the completion of the sale, the chief financial officer now owns 104,428 shares in the company, valued at approximately $453,217.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.28% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Johnson & White Wealth Management LLC acquired a new stake in shares of Peloton Interactive during the first quarter worth $43,000. Abundance Wealth Counselors purchased a new position in Peloton Interactive during the 1st quarter worth $46,000. Rakuten Securities Inc. acquired a new stake in shares of Peloton Interactive in the 4th quarter worth $47,000. Carl P. Sherr & Co. LLC purchased a new stake in shares of Peloton Interactive in the third quarter valued at about $55,000. Finally, Clear Harbor Asset Management LLC acquired a new position in shares of Peloton Interactive during the fourth quarter worth about $78,000. 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.