Canaccord Genuity Group Has Lowered Expectations for Peloton Interactive (NASDAQ:PTON) Stock Price

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

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

Peloton Interactive Stock Performance

Peloton Interactive stock opened at $5.12 on Friday. The firm has a market cap of $2.25 billion, a PE ratio of 42.67, a P/E/G ratio of 0.40 and a beta of 2.56. The firm’s 50 day moving average price is $5.12 and its two-hundred day moving average price is $5.24. Peloton Interactive has a twelve month low of $3.65 and a twelve month high of $7.92.

Peloton Interactive (NASDAQ:PTON) last released its earnings results 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 company had revenue of $607.70 million during 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 company’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.05 EPS. Equities analysts anticipate that Peloton Interactive will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling at Peloton Interactive

In other news, COO Charles Kirol sold 28,849 shares of the firm’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $5.33, for a total transaction of $153,765.17. Following the transaction, the chief operating officer owned 197,334 shares in the company, valued at approximately $1,051,790.22. This trade represents a 12.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karen Boone sold 25,000 shares of Peloton Interactive stock in a transaction on Monday, August 17th. The shares were sold at an average price of $5.35, for a total transaction of $133,750.00. Following the completion of the sale, the director directly owned 236,063 shares of the company’s stock, valued at approximately $1,262,937.05. The trade was a 9.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 217,712 shares of company stock worth $1,177,289. Company insiders own 1.23% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PTON. GAMMA Investing LLC lifted its holdings in Peloton Interactive by 232.0% in the 2nd quarter. GAMMA Investing LLC now owns 4,399 shares of the company’s stock worth $26,000 after purchasing an additional 3,074 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Peloton Interactive during the 2nd quarter worth $60,000. Lotus Technology Management LP bought a new position in Peloton Interactive in the 2nd quarter worth $60,000. Sterling Capital Management LLC raised its holdings in Peloton Interactive by 37.0% in the 3rd quarter. Sterling Capital Management LLC now owns 10,218 shares of the company’s stock worth $51,000 after acquiring an additional 2,759 shares during the period. Finally, SummitTX Capital L.P. bought a new position in Peloton Interactive in the 1st quarter worth $50,000. 77.01% of the stock is owned by institutional investors.

About Peloton Interactive

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.