Deutsche Bank Aktiengesellschaft Cuts Peloton Interactive (NASDAQ:PTON) Price Target to $34.00

Peloton Interactive (NASDAQ:PTONGet Rating) had its price objective lowered by Deutsche Bank Aktiengesellschaft from $51.00 to $34.00 in a research report sent to investors on Wednesday, The Fly reports.

A number of other equities research analysts also recently weighed in on PTON. Stifel Nicolaus downgraded Peloton Interactive from a buy rating to a hold rating and dropped their target price for the stock from $45.00 to $14.00 in a report on Wednesday. Citigroup decreased their target price on Peloton Interactive from $36.00 to $28.00 in a research report on Wednesday. Macquarie cut their price target on Peloton Interactive from $85.00 to $60.00 and set an outperform rating on the stock in a research note on Wednesday, February 9th. MKM Partners lifted their price target on Peloton Interactive from $30.00 to $35.00 and gave the company a neutral rating in a research note on Thursday, February 10th. Finally, JPMorgan Chase & Co. cut their price objective on Peloton Interactive from $50.00 to $24.00 in a research note on Wednesday. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Peloton Interactive presently has an average rating of Hold and an average price target of $45.81.

Shares of PTON opened at $15.87 on Wednesday. Peloton Interactive has a twelve month low of $11.25 and a twelve month high of $129.70. The company has a 50 day moving average of $22.47 and a 200-day moving average of $34.08. The company has a quick ratio of 1.29, a current ratio of 2.49 and a debt-to-equity ratio of 0.49.

Peloton Interactive (NASDAQ:PTONGet Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported ($2.27) EPS for the quarter, missing the consensus estimate of ($0.83) by ($1.44). Peloton Interactive had a negative net margin of 49.10% and a negative return on equity of 78.79%. The company had revenue of $964.30 million during the quarter, compared to analyst estimates of $969.81 million. During the same period in the previous year, the company posted ($0.03) EPS. The company’s quarterly revenue was down 23.6% compared to the same quarter last year. On average, sell-side analysts predict that Peloton Interactive will post -4.43 EPS for the current fiscal year.

In other news, COO Mariana Garavaglia sold 2,459 shares of the company’s stock in a transaction that occurred on Thursday, February 17th. The shares were sold at an average price of $31.99, for a total value of $78,663.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William Lynch sold 6,250 shares of the company’s stock in a transaction that occurred on Thursday, February 17th. The stock was sold at an average price of $32.49, for a total transaction of $203,062.50. The disclosure for this sale can be found here. Insiders have sold a total of 10,768 shares of company stock worth $347,387 in the last ninety days. 13.18% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Baillie Gifford & Co. raised its holdings in shares of Peloton Interactive by 5.0% during the first quarter. Baillie Gifford & Co. now owns 33,191,671 shares of the company’s stock valued at $876,924,000 after acquiring an additional 1,582,414 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Peloton Interactive by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 25,768,977 shares of the company’s stock worth $680,816,000 after buying an additional 851,812 shares during the period. BlackRock Inc. boosted its holdings in shares of Peloton Interactive by 3.2% during the 4th quarter. BlackRock Inc. now owns 15,521,973 shares of the company’s stock worth $555,065,000 after buying an additional 475,589 shares during the period. Capital World Investors boosted its holdings in shares of Peloton Interactive by 38.5% during the 4th quarter. Capital World Investors now owns 8,713,231 shares of the company’s stock worth $311,585,000 after buying an additional 2,423,001 shares during the period. Finally, Viking Global Investors LP raised its stake in Peloton Interactive by 1,135.7% during the 3rd quarter. Viking Global Investors LP now owns 6,485,107 shares of the company’s stock valued at $564,529,000 after purchasing an additional 5,960,315 shares during the last quarter. Institutional investors and hedge funds own 82.42% of the company’s stock.

Peloton Interactive Company Profile (Get Rating)

Peloton Interactive, Inc provides interactive fitness products in North America and internationally. It offers connected fitness products with touchscreen that streams live and on-demand classes under the Peloton Bike, Peloton Bike+, Peloton Tread, and Peloton Tread+ names. The company also provides connected fitness subscriptions for various household users, and access to various 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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