Peloton Interactive (NASDAQ:PTON) Given New $10.00 Price Target at Truist Financial

Peloton Interactive (NASDAQ:PTON) had its price objective raised by Truist Financial from $6.00 to $10.00 in a research note published on Friday morning, Benzinga reports. The firm currently has a hold rating on the stock.

Several other equities analysts have also commented on the company. JPMorgan Chase & Co. raised their price objective on Peloton Interactive from $5.00 to $7.00 and gave the company a “neutral” rating in a research report on Friday. JMP Securities reissued a “market perform” rating on shares of Peloton Interactive in a research note on Thursday, October 3rd. TD Cowen upped their price objective on shares of Peloton Interactive from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Macquarie lifted their target price on shares of Peloton Interactive from $4.90 to $9.00 and gave the company a “neutral” rating in a report on Friday. Finally, Telsey Advisory Group upped their price target on Peloton Interactive from $5.00 to $9.00 and gave the stock a “market perform” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.05.

Peloton Interactive Price Performance

Shares of NASDAQ PTON opened at $7.25 on Friday. Peloton Interactive has a 1 year low of $2.70 and a 1 year high of $8.92. The stock has a market capitalization of $2.73 billion, a P/E ratio of -6.78 and a beta of 1.92. The company’s 50-day moving average is $5.11 and its 200 day moving average is $4.07.

Peloton Interactive (NASDAQ:PTON) last posted its earnings results on Thursday, October 31st. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The business had revenue of $586.00 million during the quarter, compared to analysts’ expectations of $572.97 million. During the same quarter last year, the business earned ($0.44) EPS. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. Research analysts anticipate that Peloton Interactive will post -0.65 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Nick V. Caldwell bought 31,337 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was acquired at an average cost of $4.25 per share, for a total transaction of $133,182.25. Following the purchase, the insider now owns 31,337 shares in the company, valued at approximately $133,182.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Nick V. Caldwell purchased 31,337 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was acquired at an average cost of $4.25 per share, for a total transaction of $133,182.25. Following the purchase, the insider now directly owns 31,337 shares in the company, valued at $133,182.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Saqib Baig sold 50,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $4.88, for a total transaction of $244,000.00. Following the completion of the transaction, the chief accounting officer now owns 87,014 shares in the company, valued at $424,628.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 167,880 shares of company stock worth $815,767. 1.34% of the stock is owned by insiders.

Institutional Investors Weigh In On Peloton Interactive

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Peloton Interactive by 4.0% during the first quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company’s stock valued at $135,212,000 after purchasing an additional 1,215,397 shares during the period. DNB Asset Management AS increased its holdings in Peloton Interactive by 42.4% in the 2nd quarter. DNB Asset Management AS now owns 12,130,553 shares of the company’s stock worth $40,880,000 after acquiring an additional 3,611,069 shares in the last quarter. DME Capital Management LP bought a new stake in Peloton Interactive during the 2nd quarter worth approximately $22,947,000. Clearline Capital LP purchased a new position in Peloton Interactive during the second quarter valued at approximately $7,527,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Peloton Interactive in the first quarter worth approximately $5,877,000. 77.01% of the stock is currently owned by hedge funds and other institutional investors.

About Peloton Interactive

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.