JPMorgan Chase & Co. Issues Positive Forecast for Peloton Interactive (NASDAQ:PTON) Stock Price

Peloton Interactive (NASDAQ:PTON) had its price objective raised by stock analysts at JPMorgan Chase & Co. from $5.00 to $7.00 in a report issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 16.67% from the stock’s current price.

Several other research analysts also recently issued reports on PTON. Sanford C. Bernstein raised their price objective on shares of Peloton Interactive from $3.80 to $4.25 and gave the stock a “market perform” rating in a research report on Friday, August 23rd. Telsey Advisory Group boosted their price target on Peloton Interactive from $5.00 to $9.00 and gave the company a “market perform” rating in a research report on Friday. Roth Mkm increased their price objective on Peloton Interactive from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. BMO Capital Markets restated a “market perform” rating and set a $6.50 price target on shares of Peloton Interactive in a research note on Tuesday, October 1st. Finally, Robert W. Baird lifted their price objective on shares of Peloton Interactive from $4.75 to $8.00 and gave the company a “neutral” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Peloton Interactive presently has an average rating of “Hold” and a consensus price target of $5.19.

Peloton Interactive Stock Performance

Shares of PTON stock opened at $8.40 on Friday. Peloton Interactive has a 1 year low of $2.70 and a 1 year high of $8.92. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of -5.56 and a beta of 2.04. The stock’s 50-day moving average is $5.07 and its two-hundred day moving average is $4.03.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The business had revenue of $586.00 million during the quarter, compared to the consensus estimate of $572.97 million. The company’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.44) EPS. As a group, research analysts predict that Peloton Interactive will post -0.65 EPS for the current year.

Insider Activity at Peloton Interactive

In related news, CEO Chris Bruzzo sold 24,977 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $5.80, for a total value of $144,866.60. Following the completion of the sale, the chief executive officer now directly owns 149,240 shares in the company, valued at approximately $865,592. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Chris Bruzzo sold 24,977 shares of Peloton Interactive stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $5.80, for a total value of $144,866.60. Following the transaction, the chief executive officer now directly owns 149,240 shares of the company’s stock, valued at $865,592. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Nick V. Caldwell purchased 31,337 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average price of $4.25 per share, for a total transaction of $133,182.25. Following the acquisition, the insider now directly owns 31,337 shares of the company’s stock, valued at $133,182.25. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 167,880 shares of company stock worth $815,767. 1.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PTON. Vanguard Group Inc. increased its stake in Peloton Interactive by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company’s stock worth $135,212,000 after buying an additional 1,215,397 shares during the period. DNB Asset Management AS lifted its stake in shares of Peloton Interactive by 42.4% in the second quarter. DNB Asset Management AS now owns 12,130,553 shares of the company’s stock worth $40,880,000 after acquiring an additional 3,611,069 shares in the last quarter. DME Capital Management LP purchased a new position in Peloton Interactive in the second quarter valued at about $22,947,000. Clearline Capital LP acquired a new stake in Peloton Interactive during the 2nd quarter valued at approximately $7,527,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Peloton Interactive during the 1st quarter worth approximately $5,877,000. 77.01% of the stock is owned by institutional investors and hedge funds.

About Peloton Interactive

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.