Canaccord Genuity Group Issues Pessimistic Forecast for Peloton Interactive (NASDAQ:PTON) Stock Price

Peloton Interactive (NASDAQ:PTON) had its price objective reduced by research analysts at Canaccord Genuity Group from $10.00 to $8.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group‘s price objective points to a potential upside of 56.25% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley cut Peloton Interactive from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $5.00 to $4.50 in a research note on Tuesday, September 8th. Telsey Advisory Group reaffirmed a “market perform” rating on shares of Peloton Interactive in a research note on Monday, August 3rd. UBS Group lowered their price target on Peloton Interactive from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, September 8th. The Goldman Sachs Group reduced their price objective on Peloton Interactive from $7.50 to $6.50 and set a “buy” rating for the company in a research note on Monday, October 26th. Finally, Weiss Ratings upgraded Peloton Interactive from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 2nd. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Peloton Interactive has a consensus rating of “Hold” and an average price target of $7.60.

Peloton Interactive Price Performance

NASDAQ PTON opened at $5.12 on Friday. Peloton Interactive has a 12 month low of $3.65 and a 12 month high of $7.92. The company has a market capitalization of $2.25 billion, a P/E ratio of 42.67, a PEG ratio of 0.40 and a beta of 2.56. The company’s 50 day simple moving average is $5.12 and its 200 day simple moving average is $5.24.

Peloton Interactive (NASDAQ:PTON) last issued its earnings results on Thursday, August 6th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $607.70 million during the quarter, compared to analysts’ expectations of $596.60 million. Peloton Interactive had a net margin of 2.58% and a negative return on equity of 23.92%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the firm posted $0.05 earnings per share. On average, analysts anticipate that Peloton Interactive will post 0.31 earnings per share for the current year.

Insider Transactions at Peloton Interactive

In other news, CAO Saqib Baig sold 36,439 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $5.36, for a total transaction of $195,313.04. Following the completion of the sale, the chief accounting officer directly owned 272,641 shares of the company’s stock, valued at $1,461,355.76. This trade represents a 11.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dion Sanders sold 112,512 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $5.45, for a total value of $613,190.40. Following the completion of the sale, the insider directly owned 18,801 shares of the company’s stock, valued at approximately $102,465.45. The trade was a 85.68% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 217,712 shares of company stock valued at $1,177,289. 1.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Pale Fire Capital SE lifted its position in shares of Peloton Interactive by 24.0% during the 2nd quarter. Pale Fire Capital SE now owns 7,728,586 shares of the company’s stock worth $45,676,000 after purchasing an additional 1,494,009 shares during the last quarter. Technology Crossover Management IX Ltd. acquired a new stake in shares of Peloton Interactive during the second quarter worth approximately $21,727,601. Pacer Advisors Inc. raised its position in Peloton Interactive by 40.6% in the 1st quarter. Pacer Advisors Inc. now owns 3,185,534 shares of the company’s stock valued at $13,666,000 after purchasing an additional 919,754 shares during the last quarter. Kanen Wealth Management LLC bought a new position in shares of Peloton Interactive in the first quarter valued at about $7,560,000. Finally, Bastion Asset Management Inc. acquired a new position in shares of Peloton Interactive during the first quarter worth approximately $7,020,000. Institutional investors own 77.01% of the company’s stock.

Peloton Interactive Company Profile

Peloton Interactive, Inc is a connected-fitness company that combines exercise equipment, digital content and subscription services. Its product portfolio includes the Peloton Bike, Bike+, Tread treadmill, Row rowing machine and related accessories, apparel and fitness products. The company’s equipment is designed to connect users with live and on-demand instructor-led workouts through integrated screens and digital platforms.

Peloton offers subscription memberships that provide access to classes in cycling, running, strength training, yoga, meditation, rowing and other fitness disciplines.