Peloton Interactive (NASDAQ:PTON) Stock Price Up 5.5% – Still a Buy?

Peloton Interactive, Inc. (NASDAQ:PTON)’s share price rose 5.5% on Tuesday . The stock traded as high as $6.80 and last traded at $6.7550. Approximately 2,987,814 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 13,409,346 shares. The stock had previously closed at $6.40.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PTON. Macquarie lifted their target price on Peloton Interactive from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Tuesday, November 11th. Morgan Stanley boosted their price objective on shares of Peloton Interactive from $6.00 to $6.50 and gave the company an “equal weight” rating in a report on Wednesday, November 19th. Citigroup decreased their target price on shares of Peloton Interactive from $9.50 to $8.25 and set a “neutral” rating on the stock in a research report on Thursday, November 20th. Zacks Research lowered shares of Peloton Interactive from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $11.50 price target on shares of Peloton Interactive in a research note on Thursday, October 2nd. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $9.86.

Peloton Interactive Stock Performance

The business has a 50-day simple moving average of $7.31 and a 200-day simple moving average of $7.28. The company has a market cap of $2.81 billion, a price-to-earnings ratio of -24.05, a price-to-earnings-growth ratio of 1.87 and a beta of 2.46.

Peloton Interactive (NASDAQ:PTON) last released its earnings results on Thursday, November 6th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $550.80 million for the quarter, compared to analysts’ expectations of $540.61 million. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. Research analysts anticipate that Peloton Interactive, Inc. will post -0.36 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Saqib Baig sold 42,267 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $7.25, for a total transaction of $306,435.75. Following the completion of the transaction, the chief accounting officer directly owned 193,052 shares of the company’s stock, valued at approximately $1,399,627. This represents a 17.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dion C. Sanders sold 111,036 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $6.64, for a total value of $737,279.04. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,860,696 shares of company stock worth $13,932,164. 1.30% of the stock is currently owned by insiders.

Institutional Trading of Peloton Interactive

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Peloton Interactive by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 38,636,291 shares of the company’s stock valued at $347,727,000 after buying an additional 811,585 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Peloton Interactive by 29.4% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 21,760,678 shares of the company’s stock valued at $137,528,000 after purchasing an additional 4,940,422 shares during the last quarter. Eminence Capital LP acquired a new stake in shares of Peloton Interactive in the 2nd quarter valued at about $112,681,000. Geode Capital Management LLC grew its stake in Peloton Interactive by 5.7% during the 2nd quarter. Geode Capital Management LLC now owns 9,141,542 shares of the company’s stock worth $63,450,000 after buying an additional 490,353 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Peloton Interactive by 27.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,056,642 shares of the company’s stock worth $44,598,000 after buying an additional 1,503,680 shares during the last quarter. Hedge funds and other institutional investors 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.