Telsey Advisory Group Reaffirms Market Perform Rating for Peloton Interactive (NASDAQ:PTON)

Peloton Interactive (NASDAQ:PTON)‘s stock had its “market perform” rating reissued by Telsey Advisory Group in a report released on Monday,Benzinga reports. They currently have a $11.00 target price on the stock. Telsey Advisory Group’s price objective indicates a potential upside of 41.94% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. Sanford C. Bernstein upped their price objective on shares of Peloton Interactive from $4.25 to $6.50 and gave the company a “market perform” rating in a report on Friday, November 1st. Robert W. Baird upped their price target on Peloton Interactive from $4.75 to $8.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. BMO Capital Markets upped their price target on Peloton Interactive from $6.50 to $8.50 and gave the company a “market perform” rating in a research report on Monday, November 4th. Needham & Company LLC reiterated a “hold” rating on shares of Peloton Interactive in a research report on Friday, November 1st. Finally, Morgan Stanley upped their price target on Peloton Interactive from $3.50 to $5.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Sixteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $7.10.

Peloton Interactive Stock Performance

Shares of NASDAQ:PTON opened at $7.75 on Monday. The company’s 50-day moving average is $9.12 and its 200 day moving average is $6.53. The company has a market capitalization of $2.96 billion, a P/E ratio of -7.24 and a beta of 1.95. Peloton Interactive has a fifty-two week low of $2.70 and a fifty-two week high of $10.90.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The business had revenue of $586.00 million for the quarter, compared to analyst estimates of $572.97 million. The firm’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.44) earnings per share. As a group, research analysts predict that Peloton Interactive will post -0.39 earnings per share for the current year.

Insider Buying and Selling at Peloton Interactive

In other news, CEO Karen Boone sold 16,925 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $9.64, for a total transaction of $163,157.00. Following the completion of the sale, the chief executive officer now owns 228,217 shares of the company’s stock, valued at approximately $2,200,011.88. This represents a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Andrew S. Rendich sold 138,391 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $7.51, for a total value of $1,039,316.41. Following the sale, the insider now directly owns 287,973 shares of the company’s stock, valued at approximately $2,162,677.23. This trade represents a 32.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 395,813 shares of company stock worth $3,041,724 over the last ninety days. Insiders own 1.34% of the company’s stock.

Institutional Trading of Peloton Interactive

Institutional investors have recently made changes to their positions in the stock. Ieq Capital LLC lifted its stake in Peloton Interactive by 87.6% in the fourth quarter. Ieq Capital LLC now owns 61,321 shares of the company’s stock worth $533,000 after acquiring an additional 28,638 shares during the period. Convergence Investment Partners LLC bought a new stake in Peloton Interactive in the fourth quarter valued at $697,000. New York State Common Retirement Fund boosted its holdings in Peloton Interactive by 30.0% in the fourth quarter. New York State Common Retirement Fund now owns 113,042 shares of the company’s stock valued at $983,000 after acquiring an additional 26,086 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new stake in Peloton Interactive in the fourth quarter valued at $2,300,000. Finally, Rhumbline Advisers boosted its holdings in Peloton Interactive by 7.8% in the fourth quarter. Rhumbline Advisers now owns 479,134 shares of the company’s stock valued at $4,168,000 after acquiring an additional 34,514 shares in the last quarter. 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.