Peloton Interactive (NASDAQ:PTON) Price Target Raised to $9.00

Peloton Interactive (NASDAQ:PTON) had its price objective lifted by Telsey Advisory Group from $8.00 to $9.00 in a research report report published on Thursday morning, Marketbeat Ratings reports. Telsey Advisory Group currently has a market perform rating on the stock.

A number of other analysts have also recently weighed in on PTON. UBS Group raised Peloton Interactive from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $7.50 to $11.00 in a research report on Wednesday, July 30th. Truist Financial set a $11.00 price objective on shares of Peloton Interactive in a research report on Thursday, August 7th. Macquarie boosted their price objective on shares of Peloton Interactive from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Thursday, August 14th. Morgan Stanley raised their target price on shares of Peloton Interactive from $4.00 to $5.75 and gave the stock an “equal weight” rating in a research note on Monday, August 4th. Finally, The Goldman Sachs Group upgraded shares of Peloton Interactive from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $7.00 to $11.50 in a research note on Friday, August 8th. Eight analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $9.36.

Peloton Interactive Price Performance

Shares of NASDAQ:PTON opened at $8.58 on Thursday. Peloton Interactive has a 1-year low of $4.52 and a 1-year high of $10.90. The stock has a market cap of $3.50 billion, a P/E ratio of -27.68, a P/E/G ratio of 3.30 and a beta of 2.27. The firm has a fifty day moving average price of $7.86 and a 200 day moving average price of $6.97.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. The business had revenue of $606.90 million during the quarter, compared to analyst estimates of $580.29 million. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. Peloton Interactive has set its FY 2025 guidance at EPS. Sell-side analysts expect that Peloton Interactive will post -0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Nick V. Caldwell sold 206,901 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $7.78, for a total transaction of $1,609,689.78. Following the sale, the insider owned 737,788 shares of the company’s stock, valued at $5,739,990.64. This trade represents a 21.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dion C. Sanders sold 110,753 shares of the business’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $8.05, for a total transaction of $891,561.65. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,851,961 shares of company stock valued at $14,775,168. Insiders own 1.34% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Peloton Interactive by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 37,246,652 shares of the company’s stock worth $235,399,000 after acquiring an additional 2,186,862 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of Peloton Interactive by 29.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 21,760,678 shares of the company’s stock worth $137,528,000 after purchasing an additional 4,940,422 shares during the period. Eminence Capital LP acquired a new stake in shares of Peloton Interactive during the second quarter worth $112,681,000. Geode Capital Management LLC grew its position in shares of Peloton Interactive by 5.7% in the second quarter. Geode Capital Management LLC now owns 9,141,542 shares of the company’s stock valued at $63,450,000 after purchasing an additional 490,353 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Peloton Interactive by 27.1% in the first quarter. Goldman Sachs Group Inc. now owns 7,056,642 shares of the company’s stock valued at $44,598,000 after purchasing an additional 1,503,680 shares during the period. Hedge funds and other institutional investors 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.