Peloton Interactive (NASDAQ:PTON) Price Target Raised to $10.00

Peloton Interactive (NASDAQ:PTON) had its price target hoisted by The Goldman Sachs Group from $8.00 to $10.00 in a report published on Monday,Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages have also recently issued reports on PTON. BMO Capital Markets upped their target price on shares of Peloton Interactive from $6.50 to $8.50 and gave the company a “market perform” rating in a report on Monday, November 4th. Sanford C. Bernstein upped their target price 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. UBS Group upgraded shares of Peloton Interactive from a “sell” rating to a “neutral” rating and upped their target price for the company from $2.50 to $10.00 in a report on Friday, December 6th. JPMorgan Chase & Co. upped their price target on shares of Peloton Interactive from $5.00 to $7.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, Bank of America upgraded shares of Peloton Interactive from an “underperform” rating to a “buy” rating and upped their price target for the company from $3.75 to $9.00 in a research report on Monday, November 4th. Sixteen analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $8.38.

Peloton Interactive Stock Up 5.0 %

NASDAQ PTON opened at $9.18 on Monday. Peloton Interactive has a 52 week low of $2.70 and a 52 week high of $10.90. The stock has a market capitalization of $3.50 billion, a PE ratio of -11.92 and a beta of 1.95. The firm has a 50 day moving average of $8.88 and a two-hundred day moving average of $6.75.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.04). On average, equities research analysts expect that Peloton Interactive will post -0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Saqib Baig sold 36,776 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $7.53, for a total value of $276,923.28. Following the completion of the transaction, the chief accounting officer now owns 137,357 shares in the company, valued at $1,034,298.21. This trade represents a 21.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Karen Boone sold 16,925 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $9.64, for a total transaction of $163,157.00. Following the completion of the transaction, the chief executive officer now owns 228,217 shares of the company’s stock, valued at $2,200,011.88. This represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 395,813 shares of company stock worth $3,041,724. 1.34% of the stock is owned by insiders.

Hedge Funds Weigh In On Peloton Interactive

Large investors have recently made changes to their positions in the stock. R Squared Ltd purchased a new position in shares of Peloton Interactive in the 4th quarter valued at about $28,000. Point72 Asia Singapore Pte. Ltd. grew its stake in Peloton Interactive by 31.9% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company’s stock valued at $31,000 after acquiring an additional 1,597 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Peloton Interactive in the 4th quarter valued at about $69,000. C M Bidwell & Associates Ltd. acquired a new stake in Peloton Interactive in the 4th quarter valued at about $72,000. Finally, Jones Financial Companies Lllp grew its stake in Peloton Interactive by 33.9% in the 4th quarter. Jones Financial Companies Lllp now owns 9,496 shares of the company’s stock valued at $83,000 after acquiring an additional 2,403 shares during the last quarter. Hedge funds and other institutional investors own 77.01% of the company’s stock.

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.