Peloton Interactive (NASDAQ:PTON) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Peloton Interactive (NASDAQ:PTON) had its price target hoisted by analysts at Robert W. Baird from $4.75 to $8.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 10.34% from the stock’s current price.

Several other equities analysts have also recently commented on PTON. JMP Securities reaffirmed a “market perform” rating on shares of Peloton Interactive in a research report on Thursday, October 3rd. Canaccord Genuity Group lifted their target price on Peloton Interactive from $4.00 to $5.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Macquarie reissued a “neutral” rating and set a $2.53 price target on shares of Peloton Interactive in a research report on Thursday, August 22nd. BMO Capital Markets reaffirmed a “market perform” rating and issued a $6.50 price objective on shares of Peloton Interactive in a report on Tuesday, October 1st. Finally, Roth Mkm increased their target price on shares of Peloton Interactive from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $6.05.

Peloton Interactive Stock Down 14.7 %

PTON stock opened at $7.25 on Friday. The company has a market capitalization of $2.73 billion, a PE ratio of -6.78 and a beta of 1.92. The stock’s 50 day moving average is $5.11 and its two-hundred day moving average is $4.07. Peloton Interactive has a 52-week low of $2.70 and a 52-week high of $8.92.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly 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 company had revenue of $586.00 million for the quarter, compared to analyst estimates of $572.97 million. During the same period in the previous year, the business posted ($0.44) EPS. The company’s revenue was down 1.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Peloton Interactive will post -0.65 EPS for the current year.

Insider Buying and Selling

In other Peloton Interactive news, CAO Saqib Baig sold 50,000 shares of Peloton Interactive stock in a transaction 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 sale, the chief accounting officer now owns 87,014 shares of the company’s stock, valued at $424,628.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Chris Bruzzo sold 24,977 shares of the stock in a transaction that occurred on 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 directly owns 149,240 shares in the company, valued at $865,592. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Saqib Baig sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $4.88, for a total value of $244,000.00. Following the sale, the chief accounting officer now directly owns 87,014 shares in the company, valued at approximately $424,628.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 167,880 shares of company stock valued at $815,767 in the last three months. 1.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Peloton Interactive

Hedge funds have recently modified their holdings of the company. DME Capital Management LP bought a new position in Peloton Interactive during the second quarter valued at about $22,947,000. DNB Asset Management AS boosted its position in shares of Peloton Interactive by 42.4% during the 2nd quarter. DNB Asset Management AS now owns 12,130,553 shares of the company’s stock valued at $40,880,000 after purchasing an additional 3,611,069 shares in the last quarter. Clearline Capital LP bought a new position in shares of Peloton Interactive during the 2nd quarter valued at about $7,527,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Peloton Interactive in the 1st quarter worth approximately $5,877,000. Finally, Vanguard Group Inc. lifted its stake 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 last quarter. 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.