Peloton Interactive (NASDAQ:PTON) Downgraded by Argus to “Hold”

Peloton Interactive (NASDAQ:PTON) was downgraded by research analysts at Argus from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, Marketbeat reports.

Other equities analysts have also recently issued reports about the stock. Wolfe Research set a $9.00 target price on shares of Peloton Interactive in a research note on Friday, January 30th. Truist Financial decreased their price objective on shares of Peloton Interactive from $12.00 to $9.00 and set a “buy” rating for the company in a research report on Friday. Macquarie Infrastructure upped their target price on shares of Peloton Interactive from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Tuesday, November 11th. Citigroup reduced their price target on Peloton Interactive from $9.50 to $8.25 and set a “neutral” rating for the company in a report on Thursday, November 20th. Finally, Telsey Advisory Group dropped their price objective on Peloton Interactive from $8.00 to $6.00 and set a “market perform” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $9.26.

Peloton Interactive Stock Performance

Shares of Peloton Interactive stock opened at $4.40 on Tuesday. The firm has a market cap of $1.84 billion, a PE ratio of -33.85, a P/E/G ratio of 0.82 and a beta of 2.41. The business’s 50 day simple moving average is $6.15 and its 200 day simple moving average is $7.08. Peloton Interactive has a 52-week low of $4.09 and a 52-week high of $10.25.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings results on Thursday, February 5th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The firm had revenue of $656.50 million for the quarter, compared to the consensus estimate of $675.04 million. During the same period in the prior year, the company earned ($0.24) earnings per share. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, equities research analysts predict that Peloton Interactive will post -0.36 EPS for the current year.

Insider Buying and Selling at Peloton Interactive

In related news, CFO Elizabeth F. Coddington sold 21,820 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $6.31, for a total value of $137,684.20. Following the completion of the sale, the chief financial officer directly owned 346,535 shares in the company, valued at $2,186,635.85. The trade was a 5.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jennifer Cunningham Cotter sold 131,495 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $6.64, for a total value of $873,126.80. Following the completion of the transaction, the insider directly owned 100,269 shares in the company, valued at approximately $665,786.16. This represents a 56.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,107,129 shares of company stock worth $7,708,694 in the last 90 days. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PTON. Bessemer Group Inc. lifted its position in Peloton Interactive by 1,602.6% during the second quarter. Bessemer Group Inc. now owns 5,312 shares of the company’s stock worth $37,000 after purchasing an additional 5,000 shares during the period. Advisory Services Network LLC bought a new position in Peloton Interactive in the third quarter valued at about $48,000. MAI Capital Management raised its stake in Peloton Interactive by 64.6% during the second quarter. MAI Capital Management now owns 5,498 shares of the company’s stock worth $38,000 after acquiring an additional 2,158 shares in the last quarter. Quarry LP bought a new position in shares of Peloton Interactive in the third quarter worth about $71,000. Finally, Farther Finance Advisors LLC lifted its stake in Peloton Interactive by 158.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 7,986 shares of the company’s stock valued at $72,000 after purchasing an additional 4,894 shares during the last quarter. 77.01% of the stock is owned by institutional investors and hedge funds.

Peloton Interactive Company Profile

Peloton Interactive, Inc operates a digital fitness platform that combines connected exercise equipment with live and on-demand workout classes. The company’s core products include stationary bikes (Peloton Bike and Bike+), treadmills (Peloton Tread and Tread+), and the Peloton Row. Each device integrates a touchscreen display that streams instructor-led cycling, running, strength, yoga, meditation and other fitness classes. Peloton generates recurring revenue through subscription plans, which grant users access to its growing library of workouts, performance tracking tools and community features.

Founded in 2012 by John Foley and headquartered in New York City, Peloton set out to deliver an immersive home-fitness experience by blending hardware, software and content.