Peloton Interactive (NASDAQ:PTON) Downgraded by Sanford C. Bernstein to “Market Perform”

Sanford C. Bernstein cut shares of Peloton Interactive (NASDAQ:PTON) from an outperform rating to a market perform rating in a research report report published on Friday, MarketBeat.com reports. Sanford C. Bernstein currently has $3.80 price target on the stock, down from their prior price target of $8.00.

Several other equities research analysts have also commented on the stock. The Goldman Sachs Group reduced their price target on shares of Peloton Interactive from $6.50 to $5.75 and set a neutral rating for the company in a research report on Friday, February 2nd. Truist Financial decreased their target price on Peloton Interactive from $7.00 to $6.00 and set a hold rating on the stock in a report on Friday, February 2nd. Morgan Stanley began coverage on Peloton Interactive in a report on Monday, March 11th. They set an equal weight rating and a $3.00 price target for the company. Bank of America lowered their price objective on Peloton Interactive from $4.00 to $3.25 and set an underperform rating on the stock in a research report on Monday, April 29th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Peloton Interactive from $9.00 to $8.00 and set an overweight rating for the company in a report on Friday, February 2nd. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $5.70.

Peloton Interactive Price Performance

Shares of NASDAQ PTON opened at $3.54 on Friday. The stock has a market cap of $1.30 billion, a P/E ratio of -1.68 and a beta of 2.01. The firm has a 50-day moving average of $3.90 and a 200 day moving average of $4.86. Peloton Interactive has a 1 year low of $2.70 and a 1 year high of $9.87.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.06). The company had revenue of $717.70 million during the quarter, compared to analyst estimates of $720.85 million. During the same quarter in the previous year, the business earned ($0.79) earnings per share. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. Research analysts expect that Peloton Interactive will post -1.61 earnings per share for the current fiscal year.

Insider Activity

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,977 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $4.34, for a total value of $38,960.18. Following the completion of the sale, the chief financial officer now owns 104,428 shares in the company, valued at $453,217.52. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 3.28% of the company’s stock.

Institutional Trading of Peloton Interactive

A number of hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. raised its position in shares of Peloton Interactive by 6.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 31,983 shares of the company’s stock valued at $195,000 after acquiring an additional 1,921 shares in the last quarter. Principal Financial Group Inc. increased its stake in Peloton Interactive by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 91,109 shares of the company’s stock valued at $460,000 after buying an additional 3,071 shares during the period. Arizona State Retirement System boosted its holdings in shares of Peloton Interactive by 4.2% in the third quarter. Arizona State Retirement System now owns 90,921 shares of the company’s stock valued at $459,000 after acquiring an additional 3,632 shares in the last quarter. M&T Bank Corp raised its holdings in shares of Peloton Interactive by 25.4% in the 3rd quarter. M&T Bank Corp now owns 18,002 shares of the company’s stock worth $91,000 after purchasing an additional 3,643 shares in the last quarter. Finally, Private Advisor Group LLC boosted its holdings in Peloton Interactive by 11.5% during the fourth quarter. Private Advisor Group LLC now owns 37,373 shares of the company’s stock worth $228,000 after buying an additional 3,855 shares in the last quarter. 77.01% of the stock is 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.