Peloton Interactive (NASDAQ:PTON) Given New $5.00 Price Target at Morgan Stanley

Peloton Interactive (NASDAQ:PTON) had its price target lifted by research analysts at Morgan Stanley from $3.50 to $5.00 in a report released on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential downside of 40.48% from the company’s previous close.

PTON has been the subject of a number of other research reports. JMP Securities reiterated a “market perform” rating on shares of Peloton Interactive in a research report on Thursday, October 3rd. Sanford C. Bernstein lifted their target price on shares of Peloton Interactive from $3.80 to $4.25 and gave the company a “market perform” rating in a research note on Friday, August 23rd. TD Cowen increased their price target on Peloton Interactive from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. BMO Capital Markets reiterated a “market perform” rating and issued a $6.50 price objective on shares of Peloton Interactive in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. cut Peloton Interactive from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $7.00 to $5.00 in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Peloton Interactive has a consensus rating of “Hold” and a consensus target price of $5.19.

Peloton Interactive Stock Down 1.2 %

NASDAQ PTON opened at $8.40 on Friday. The stock has a market cap of $3.16 billion, a P/E ratio of -5.56 and a beta of 2.04. Peloton Interactive has a twelve month low of $2.70 and a twelve month high of $8.92. The company’s 50-day simple moving average is $5.07 and its 200 day simple moving average is $4.03.

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

Insider Activity

In related news, CEO Chris Bruzzo sold 24,977 shares of Peloton Interactive stock in a transaction on Friday, October 18th. The stock was 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 directly owns 149,240 shares of the company’s stock, valued at $865,592. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Elizabeth F. Coddington sold 56,084 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $4.50, for a total value of $252,378.00. Following the completion of the transaction, the chief financial officer now owns 186,466 shares of the company’s stock, valued at $839,097. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Chris Bruzzo sold 24,977 shares of Peloton Interactive stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $5.80, for a total value of $144,866.60. Following the transaction, the chief executive officer now owns 149,240 shares in the company, valued at approximately $865,592. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 167,880 shares of company stock valued at $815,767 in the last 90 days. 1.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Peloton Interactive

Several institutional investors have recently modified their holdings of PTON. Russell Investments Group Ltd. raised its holdings in Peloton Interactive by 25,397.7% during the 1st quarter. Russell Investments Group Ltd. now owns 393,685 shares of the company’s stock worth $1,687,000 after buying an additional 392,141 shares during the period. Select Equity Group L.P. acquired a new stake in shares of Peloton Interactive during the second quarter worth $1,832,000. The Manufacturers Life Insurance Company lifted its position in Peloton Interactive by 253.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 181,589 shares of the company’s stock valued at $614,000 after acquiring an additional 130,242 shares in the last quarter. Vanguard Group Inc. boosted its stake in Peloton Interactive by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company’s stock worth $135,212,000 after purchasing an additional 1,215,397 shares during the period. Finally, Swiss National Bank grew its holdings in shares of Peloton Interactive by 1.2% during the first quarter. Swiss National Bank now owns 642,200 shares of the company’s stock worth $2,752,000 after buying an additional 7,600 shares in the last quarter. 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.