KeyCorp Reiterates Buy Rating for Peloton (NASDAQ:PTON)

KeyCorp reissued their buy rating on shares of Peloton (NASDAQ:PTON) in a research report released on Monday morning.

A number of other research firms have also recently commented on PTON. JMP Securities lifted their price target on shares of Peloton from $59.00 to $109.00 and gave the stock an outperform rating in a report on Friday, September 4th. Oppenheimer raised their target price on Peloton from $50.00 to $105.00 and gave the stock an outperform rating in a research report on Friday, September 11th. Needham & Company LLC raised their target price on Peloton from $65.00 to $110.00 and gave the stock a buy rating in a research report on Friday, September 11th. BMO Capital Markets raised their price target on Peloton from $26.00 to $33.00 and gave the stock an underperform rating in a report on Friday, September 11th. Finally, Telsey Advisory Group raised their price target on Peloton from $82.00 to $105.00 and gave the stock an outperform rating in a report on Tuesday, September 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $95.79.

Peloton stock opened at $82.59 on Monday. Peloton has a 1-year low of $17.70 and a 1-year high of $98.61. The firm has a market capitalization of $23.39 billion and a price-to-earnings ratio of -58.16. The firm’s fifty day moving average price is $73.29 and its two-hundred day moving average price is $49.37. The company has a current ratio of 3.32, a quick ratio of 2.96 and a debt-to-equity ratio of 0.33.

Peloton (NASDAQ:PTON) last released its quarterly earnings results on Thursday, September 10th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.17. Peloton had a negative net margin of 3.93% and a negative return on equity of 4.64%. The company had revenue of $607.10 million for the quarter, compared to analyst estimates of $579.67 million. During the same period last year, the firm earned ($2.07) earnings per share. The firm’s revenue was up 171.9% on a year-over-year basis. On average, research analysts forecast that Peloton will post -0.14 EPS for the current year.

In related news, insider Hisao Kushi sold 132,890 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $80.83, for a total transaction of $10,741,498.70. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Jill Woodworth sold 45,000 shares of Peloton stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $55.00, for a total value of $2,475,000.00. In the last 90 days, insiders have sold 846,599 shares of company stock worth $66,255,661.

Several large investors have recently made changes to their positions in the company. Baillie Gifford & Co. lifted its stake in shares of Peloton by 27.1% in the 1st quarter. Baillie Gifford & Co. now owns 17,465,459 shares of the company’s stock valued at $463,708,000 after purchasing an additional 3,724,613 shares during the period. FMR LLC raised its holdings in Peloton by 402.5% in the second quarter. FMR LLC now owns 16,283,996 shares of the company’s stock worth $940,726,000 after purchasing an additional 13,043,301 shares in the last quarter. Vanguard Group Inc. raised its holdings in Peloton by 317.6% in the second quarter. Vanguard Group Inc. now owns 14,707,540 shares of the company’s stock worth $849,654,000 after purchasing an additional 11,185,667 shares in the last quarter. Wellington Management Group LLP lifted its position in Peloton by 85.3% during the first quarter. Wellington Management Group LLP now owns 9,355,723 shares of the company’s stock valued at $248,395,000 after buying an additional 4,306,563 shares during the period. Finally, Capital Research Global Investors lifted its position in Peloton by 478.1% during the first quarter. Capital Research Global Investors now owns 8,060,627 shares of the company’s stock valued at $214,010,000 after buying an additional 6,666,218 shares during the period. 59.54% of the stock is owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Peloton (NASDAQ:PTON)

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