Argus Downgrades Peloton Interactive (NASDAQ:PTON) to Hold

Peloton Interactive (NASDAQ:PTON) was downgraded by research analysts at Argus from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports.

Several other equities analysts also recently issued reports on the stock. Guggenheim began coverage on shares of Peloton Interactive in a report on Wednesday, December 10th. They set a “neutral” rating for the company. Wall Street Zen upgraded shares of Peloton Interactive from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Wolfe Research set a $9.00 price target on Peloton Interactive in a report on Friday, January 30th. UBS Group reissued a “buy” rating on shares of Peloton Interactive in a research note on Tuesday, February 3rd. Finally, Citigroup decreased their price objective on shares of Peloton Interactive from $9.50 to $8.25 and set a “neutral” rating on the stock in a report on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Peloton Interactive has a consensus rating of “Hold” and an average price target of $9.26.

Peloton Interactive Stock Performance

Shares of Peloton Interactive stock opened at $4.40 on Tuesday. The firm has a market cap of $1.84 billion, a P/E ratio of -33.85, a price-to-earnings-growth ratio of 0.82 and a beta of 2.41. The firm’s 50-day simple moving average is $6.15 and its 200-day simple moving average is $7.08. Peloton Interactive has a twelve month low of $4.09 and a twelve month high of $10.25.

Peloton Interactive (NASDAQ:PTON) last issued its earnings results on Thursday, February 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The firm had revenue of $656.50 million during the quarter, compared to analyst estimates of $675.04 million. During the same period in the previous year, the firm posted ($0.24) earnings per share. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, equities analysts forecast that Peloton Interactive will post -0.36 earnings per share for the current fiscal year.

Insider Activity at Peloton Interactive

In other news, insider Nick V. Caldwell sold 25,135 shares of the company’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $7.00, for a total value of $175,945.00. Following the completion of the sale, the insider directly owned 739,085 shares of the company’s stock, valued at $5,173,595. This represents a 3.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jennifer Cunningham Cotter sold 131,495 shares of the stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $6.64, for a total transaction of $873,126.80. Following the completion of the sale, the insider owned 100,269 shares in the company, valued at $665,786.16. This represents a 56.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 1,107,129 shares of company stock worth $7,708,694. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Peloton Interactive

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in shares of Peloton Interactive by 342.6% in the 1st quarter. Royal Bank of Canada now owns 616,367 shares of the company’s stock valued at $3,896,000 after buying an additional 477,106 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Peloton Interactive by 2.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 290,981 shares of the company’s stock worth $1,839,000 after acquiring an additional 6,921 shares in the last quarter. NewEdge Advisors LLC grew its stake in Peloton Interactive by 3,132.6% in the first quarter. NewEdge Advisors LLC now owns 15,549 shares of the company’s stock valued at $98,000 after acquiring an additional 15,068 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Peloton Interactive by 27.1% in the 1st 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. Finally, Caxton Associates LLP bought a new stake in Peloton Interactive during the 1st quarter worth approximately $282,000. 77.01% of the stock is currently owned by institutional investors and hedge funds.

About Peloton Interactive

Peloton Interactive, Inc operates a digital fitness platform that combines connected exercise equipment with live and on-demand workout classes. The company’s core products include stationary bikes (Peloton Bike and Bike+), treadmills (Peloton Tread and Tread+), and the Peloton Row. Each device integrates a touchscreen display that streams instructor-led cycling, running, strength, yoga, meditation and other fitness classes. Peloton generates recurring revenue through subscription plans, which grant users access to its growing library of workouts, performance tracking tools and community features.

Founded in 2012 by John Foley and headquartered in New York City, Peloton set out to deliver an immersive home-fitness experience by blending hardware, software and content.