BMO Capital Markets Cuts Peloton Interactive (NASDAQ:PTON) Price Target to $6.50

Peloton Interactive (NASDAQ:PTON) had its target price decreased by BMO Capital Markets from $7.50 to $6.50 in a research report sent to investors on Friday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

A number of other equities analysts also recently weighed in on the stock. Macquarie lowered their target price on shares of Peloton Interactive from $4.50 to $2.53 and set a neutral rating for the company in a research note on Friday. Needham & Company LLC reaffirmed a hold rating on shares of Peloton Interactive in a research note on Friday. The Goldman Sachs Group decreased their price target on shares of Peloton Interactive from $5.75 to $3.50 and set a neutral rating for the company in a research note on Friday. Morgan Stanley began coverage on shares of Peloton Interactive in a research note on Monday, March 11th. They issued an equal weight rating and a $3.00 price target for the company. Finally, Bank of America reduced their price objective on shares of Peloton Interactive from $4.00 to $3.25 and set an underperform rating for the company in a report on Monday, April 29th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $5.70.

Peloton Interactive Trading Up 1.2 %

Peloton Interactive stock traded up $0.04 during mid-day trading on Friday, reaching $3.47. The company had a trading volume of 2,416,946 shares, compared to its average volume of 14,783,824. The business has a fifty day simple moving average of $3.93 and a 200 day simple moving average of $4.87. The company has a market cap of $1.27 billion, a P/E ratio of -1.62 and a beta of 2.01. Peloton Interactive has a fifty-two week low of $2.70 and a fifty-two week high of $9.87.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.06). The firm had revenue of $717.70 million for the quarter, compared to analysts’ expectations of $720.85 million. During the same period in the prior year, the firm earned ($0.79) earnings per share. The business’s revenue was down 4.2% on a year-over-year basis. Research analysts forecast that Peloton Interactive will post -1.61 EPS for the current year.

Insiders Place Their Bets

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,977 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $4.34, for a total value of $38,960.18. Following the completion of the sale, the chief financial officer now owns 104,428 shares of the company’s stock, valued at $453,217.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.28% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Peloton Interactive by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 30,339,435 shares of the company’s stock worth $184,767,000 after purchasing an additional 735,658 shares during the period. Capital World Investors lifted its holdings in shares of Peloton Interactive by 17.6% during the fourth quarter. Capital World Investors now owns 26,259,325 shares of the company’s stock worth $159,919,000 after purchasing an additional 3,925,000 shares during the period. DNB Asset Management AS lifted its holdings in shares of Peloton Interactive by 31.7% during the fourth quarter. DNB Asset Management AS now owns 8,386,903 shares of the company’s stock worth $51,076,000 after purchasing an additional 2,020,159 shares during the period. Patient Capital Management LLC lifted its holdings in shares of Peloton Interactive by 32.7% during the fourth quarter. Patient Capital Management LLC now owns 6,196,285 shares of the company’s stock worth $37,735,000 after purchasing an additional 1,527,471 shares during the period. Finally, Norges Bank acquired a new stake in shares of Peloton Interactive during the fourth quarter worth about $20,824,000. Institutional investors and hedge funds 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.