Peloton Interactive (NASDAQ:PTON) Price Target Lowered to $5.00 at Citigroup

Peloton Interactive (NASDAQ:PTON) had its price target reduced by research analysts at Citigroup from $8.25 to $5.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price objective suggests a potential upside of 17.79% from the company’s previous close.

Several other research analysts also recently weighed in on PTON. Bank of America set a $9.00 price target on shares of Peloton Interactive in a research report on Friday, January 30th. Guggenheim assumed coverage on shares of Peloton Interactive in a report on Wednesday, December 10th. They set a “neutral” rating for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Peloton Interactive in a research note on Friday, January 9th. JPMorgan Chase & Co. lowered their price target on shares of Peloton Interactive from $9.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, February 6th. Finally, UBS Group reiterated a “buy” rating on shares of Peloton Interactive in a report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $8.42.

Peloton Interactive Stock Down 1.7%

Shares of NASDAQ PTON traded down $0.08 during midday trading on Thursday, reaching $4.25. 6,666,819 shares of the stock were exchanged, compared to its average volume of 15,004,384. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of -32.73, a PEG ratio of 0.89 and a beta of 2.41. The firm has a 50-day simple moving average of $6.06 and a two-hundred day simple moving average of $7.04. Peloton Interactive has a twelve month low of $4.09 and a twelve month high of $10.25.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings results on Thursday, February 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The company had revenue of $656.50 million for the quarter, compared to analysts’ expectations of $675.04 million. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.24) earnings per share. Research analysts expect that Peloton Interactive will post -0.36 EPS for the current fiscal year.

Insider Activity at Peloton Interactive

In related news, insider Nick V. Caldwell sold 75,762 shares of Peloton Interactive stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $7.00, for a total value of $530,334.00. Following the completion of the sale, the insider owned 764,220 shares in the company, valued at approximately $5,349,540. This trade represents a 9.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Cunningham Cotter sold 148,432 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $7.22, for a total value of $1,071,679.04. Following the completion of the sale, the insider directly owned 231,764 shares in the company, valued at approximately $1,673,336.08. The trade was a 39.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,107,129 shares of company stock valued at $7,708,694 over the last quarter. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bessemer Group Inc. raised its position in Peloton Interactive by 1,602.6% in the 2nd quarter. Bessemer Group Inc. now owns 5,312 shares of the company’s stock valued at $37,000 after purchasing an additional 5,000 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Peloton Interactive in the third quarter valued at approximately $48,000. MAI Capital Management lifted its stake in Peloton Interactive by 64.6% in 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 during the last quarter. Quarry LP acquired a new position in Peloton Interactive during the 3rd quarter worth approximately $71,000. Finally, Farther Finance Advisors LLC increased its position in shares of 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 currently owned by hedge funds and other institutional investors.

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.