Peloton Interactive (NASDAQ:PTON) Given New $8.00 Price Target at Canaccord Genuity Group

Peloton Interactive (NASDAQ:PTON) had its price target decreased by Canaccord Genuity Group from $10.00 to $8.00 in a report published on Friday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

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

Peloton Interactive Price Performance

PTON opened at $5.12 on Friday. Peloton Interactive has a twelve month low of $3.65 and a twelve month high of $7.92. The company has a 50-day simple moving average of $5.12 and a 200 day simple moving average of $5.24. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 42.67, a P/E/G ratio of 0.40 and a beta of 2.56.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $607.70 million for the quarter, compared to the consensus estimate of $596.60 million. Peloton Interactive had a net margin of 2.58% and a negative return on equity of 23.92%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the company posted $0.05 earnings per share. Sell-side analysts anticipate that Peloton Interactive will post 0.31 EPS for the current fiscal year.

Insider Activity at Peloton Interactive

In other news, insider Dion Sanders sold 112,512 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $5.45, for a total transaction of $613,190.40. Following the completion of the transaction, the insider directly owned 18,801 shares in the company, valued at approximately $102,465.45. This represents a 85.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Saqib Baig sold 10,000 shares of the stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $5.45, for a total value of $54,500.00. Following the completion of the transaction, the chief accounting officer owned 257,729 shares of the company’s stock, valued at $1,404,623.05. The trade was a 3.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 217,712 shares of company stock worth $1,177,289. Corporate insiders own 1.23% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of Peloton Interactive by 232.0% during the second quarter. GAMMA Investing LLC now owns 4,399 shares of the company’s stock valued at $26,000 after purchasing an additional 3,074 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Peloton Interactive during the second quarter worth about $60,000. Lotus Technology Management LP bought a new stake in shares of Peloton Interactive during the second quarter worth about $60,000. Sterling Capital Management LLC increased its stake in shares of Peloton Interactive by 37.0% in the third quarter. Sterling Capital Management LLC now owns 10,218 shares of the company’s stock valued at $51,000 after buying an additional 2,759 shares during the period. Finally, SummitTX Capital L.P. acquired a new position in shares of Peloton Interactive in the first quarter valued at approximately $50,000. 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.