Peloton (NASDAQ:PTON) Given Buy Rating at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Peloton (NASDAQ:PTON) in a research report report published on Tuesday, TipRanks reports. The brokerage currently has a $70.00 price target on the stock.

A number of other brokerages have also weighed in on PTON. Canaccord Genuity increased their price objective on Peloton from $40.00 to $50.00 and gave the company a buy rating in a report on Thursday, May 7th. ValuEngine raised Peloton from a hold rating to a buy rating in a report on Thursday, April 2nd. Needham & Company LLC increased their price objective on Peloton from $50.00 to $65.00 and gave the company a buy rating in a report on Friday, June 26th. Cowen increased their price objective on Peloton from $54.00 to $70.00 and gave the company an outperform rating in a report on Tuesday, June 23rd. Finally, Robert W. Baird reissued a buy rating and issued a $52.00 price objective on shares of Peloton in a report on Friday, June 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $51.54.

Shares of NASDAQ:PTON opened at $57.77 on Tuesday. The business’s 50-day moving average is $48.01 and its 200 day moving average is $33.91. Peloton has a 1 year low of $17.70 and a 1 year high of $60.00. The company has a quick ratio of 2.96, a current ratio of 3.32 and a debt-to-equity ratio of 0.33.

Peloton (NASDAQ:PTON) last announced its earnings results on Wednesday, May 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.02). The business had revenue of $524.60 million for the quarter, compared to analyst estimates of $491.08 million. Peloton had a negative net margin of 14.44% and a negative return on equity of 20.32%. The firm’s quarterly revenue was up 65.6% on a year-over-year basis. On average, equities research analysts predict that Peloton will post -0.55 EPS for the current year.

In other Peloton news, CFO Jill Woodworth sold 45,000 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $55.00, for a total transaction of $2,475,000.00. Also, President William Lynch sold 77,132 shares of the stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $31.36, for a total value of $2,418,859.52. Following the transaction, the president now owns 73,856 shares in the company, valued at approximately $2,316,124.16. The disclosure for this sale can be found here. Insiders have sold 5,674,364 shares of company stock worth $198,572,620 in the last quarter.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PTON. Adirondack Trust Co. lifted its position in shares of Peloton by 245.0% in the first quarter. Adirondack Trust Co. now owns 1,035 shares of the company’s stock valued at $27,000 after acquiring an additional 735 shares in the last quarter. Pathstone Family Office LLC purchased a new position in shares of Peloton in the first quarter valued at approximately $27,000. CWM LLC lifted its position in shares of Peloton by 265.2% in the first quarter. CWM LLC now owns 1,446 shares of the company’s stock valued at $38,000 after acquiring an additional 1,050 shares in the last quarter. Advisor Group Inc. lifted its position in Peloton by 49.4% during the fourth quarter. Advisor Group Inc. now owns 2,066 shares of the company’s stock worth $59,000 after buying an additional 683 shares in the last quarter. Finally, Jacobi Capital Management LLC lifted its position in Peloton by 12,500.0% during the first quarter. Jacobi Capital Management LLC now owns 2,520 shares of the company’s stock worth $67,000 after buying an additional 2,500 shares in the last quarter. Institutional investors and hedge funds own 41.42% of the company’s stock.

Peloton Company Profile

Peloton Interactive, Inc provides interactive fitness products in North America. It offers connected fitness products, such as the Peloton Bike and the Peloton Tread, which include touchscreen that streams live and on-demand classes. The company also provides connected fitness subscriptions for multiple household users, and access to all live and on-demand classes, as well as Peloton Digital app for connected fitness subscribers to provide access to its classes.

See Also: Market Indexes

Analyst Recommendations for Peloton (NASDAQ:PTON)

Receive News & Ratings for Peloton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Peloton and related companies with MarketBeat.com's FREE daily email newsletter.