JPMorgan Chase & Co. Lowers Peloton Interactive (NASDAQ:PTON) Price Target to $24.00

Peloton Interactive (NASDAQ:PTONGet Rating) had its price target lowered by JPMorgan Chase & Co. from $50.00 to $24.00 in a report published on Wednesday, The Fly reports.

Other research analysts have also issued reports about the stock. Oppenheimer raised their target price on shares of Peloton Interactive from $40.00 to $45.00 and gave the stock an outperform rating in a research note on Wednesday, February 9th. Cowen raised their target price on shares of Peloton Interactive from $40.00 to $50.00 and gave the stock an outperform rating in a research note on Wednesday, February 9th. JMP Securities raised shares of Peloton Interactive from a market perform rating to an outperform rating and set a $25.00 target price on the stock in a research note on Wednesday. Needham & Company LLC reduced their price target on shares of Peloton Interactive from $105.00 to $50.00 and set a buy rating on the stock in a research report on Friday, January 21st. Finally, Citigroup reduced their price target on shares of Peloton Interactive from $36.00 to $28.00 in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $45.81.

Shares of PTON opened at $15.87 on Wednesday. The business’s 50-day moving average is $22.47 and its two-hundred day moving average is $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 has a fifty-two week low of $11.25 and a fifty-two week high of $129.70.

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

In other news, COO Mariana Garavaglia sold 2,459 shares of the 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Allen J. Klingsick sold 2,059 shares of the stock in a transaction that occurred on Thursday, February 17th. The shares were sold at an average price of $31.89, for a total transaction of $65,661.51. The disclosure for this sale can be found here. Insiders have sold 10,768 shares of company stock worth $347,387 over the last 90 days. 13.18% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Masso Torrence Wealth Management Inc. purchased a new position in shares of Peloton Interactive during the fourth quarter valued at approximately $26,000. Webster Bank N. A. purchased a new position in shares of Peloton Interactive during the first quarter valued at approximately $26,000. ICICI Prudential Asset Management Co Ltd purchased a new position in shares of Peloton Interactive during the fourth quarter valued at approximately $27,000. Credit Agricole S A purchased a new position in shares of Peloton Interactive during the fourth quarter valued at approximately $27,000. Finally, McClarren Financial Advisors Inc. lifted its stake in shares of Peloton Interactive by 774.6% during the first quarter. McClarren Financial Advisors Inc. now owns 1,032 shares of the company’s stock valued at $27,000 after buying an additional 914 shares during the period. Institutional investors and hedge funds own 82.42% of the company’s stock.

About Peloton Interactive (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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