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

Peloton Interactive (NASDAQ:PTON) had its price objective lifted by Macquarie from $4.90 to $9.00 in a report released on Friday morning, Benzinga reports. They currently have a neutral rating on the stock.

Other analysts also recently issued reports about the stock. Canaccord Genuity Group boosted their target price on shares of Peloton Interactive from $4.00 to $5.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. upped their price target on shares of Peloton Interactive from $5.00 to $7.00 and gave the stock a “neutral” rating in a research note on Friday. Morgan Stanley upped their price objective on shares of Peloton Interactive from $3.50 to $5.00 and gave the stock an “equal weight” rating in a report on Friday. Robert W. Baird upped their price objective on shares of Peloton Interactive from $4.75 to $8.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Wolfe Research started coverage on shares of Peloton Interactive in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Sixteen analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Peloton Interactive presently has an average rating of “Hold” and a consensus target price of $6.57.

Peloton Interactive Stock Performance

PTON opened at $7.51 on Friday. Peloton Interactive has a 1-year low of $2.70 and a 1-year high of $8.92. The business has a 50 day moving average price of $5.17 and a two-hundred day moving average price of $4.10.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.44) earnings per share. Sell-side analysts anticipate that Peloton Interactive will post -0.65 EPS for the current year.

Insider Buying and Selling at Peloton Interactive

In other news, CEO Chris Bruzzo sold 24,977 shares of Peloton Interactive stock in a transaction dated 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 transaction, the chief executive officer now owns 149,240 shares of the company’s stock, valued at $865,592. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Chris Bruzzo sold 24,977 shares of Peloton Interactive stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $5.80, for a total transaction of $144,866.60. Following the completion of the sale, the chief executive officer now owns 149,240 shares of the company’s stock, valued at approximately $865,592. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Saqib Baig sold 50,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $4.88, for a total transaction of $244,000.00. Following the completion of the sale, the chief accounting officer now directly owns 87,014 shares of the company’s stock, valued at $424,628.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 194,888 shares of company stock worth $1,038,717. Insiders own 1.34% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

Institutional investors have recently added to or reduced their stakes in the stock. First Trust Direct Indexing L.P. acquired a new position in Peloton Interactive in the 1st quarter valued at approximately $94,000. Manchester Capital Management LLC increased its position in Peloton Interactive by 105.4% in the 1st quarter. Manchester Capital Management LLC now owns 235,000 shares of the company’s stock valued at $1,007,000 after acquiring an additional 120,600 shares during the period. Swiss National Bank increased its position in Peloton Interactive by 1.2% in the 1st quarter. Swiss National Bank now owns 642,200 shares of the company’s stock valued at $2,752,000 after acquiring an additional 7,600 shares during the period. Sfmg LLC acquired a new position in Peloton Interactive in the 1st quarter valued at approximately $103,000. Finally, Russell Investments Group Ltd. increased its position in Peloton Interactive by 25,397.7% in the 1st quarter. Russell Investments Group Ltd. now owns 393,685 shares of the company’s stock valued at $1,687,000 after acquiring an additional 392,141 shares during the period. 77.01% of the stock is currently owned by institutional investors and hedge funds.

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.