Peloton Interactive (NASDAQ:PTON) Downgraded by Citigroup to Neutral

Citigroup cut shares of Peloton Interactive (NASDAQ:PTON) from a buy rating to a neutral rating in a report released on Monday morning, Marketbeat reports. The firm currently has $4.00 price target on the stock, down from their prior price target of $8.00.

Several other research firms have also issued reports on PTON. The Goldman Sachs Group lowered their price target on shares of Peloton Interactive from $5.75 to $3.50 and set a neutral rating for the company in a report on Friday, May 3rd. Sanford C. Bernstein downgraded shares of Peloton Interactive from an outperform rating to a market perform rating and cut their price objective for the stock from $8.00 to $3.80 in a report on Friday, May 3rd. Morgan Stanley started coverage on shares of Peloton Interactive in a report on Monday, March 11th. They issued an equal weight rating and a $3.00 price target on the stock. Bank of America cut their price target on shares of Peloton Interactive from $4.00 to $3.25 and set an underperform rating on the stock in a report on Monday, April 29th. Finally, Roth Mkm lowered their price objective on Peloton Interactive from $7.00 to $5.00 and set a buy rating on the stock in a research note on Friday, May 3rd. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $5.11.

Peloton Interactive Stock Performance

Shares of NASDAQ:PTON opened at $3.94 on Monday. The company has a market capitalization of $1.45 billion, a P/E ratio of -1.87 and a beta of 2.01. The company has a 50-day simple moving average of $3.89 and a 200 day simple moving average of $4.85. Peloton Interactive has a 52-week low of $2.70 and a 52-week high of $9.87.

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

Insiders Place Their Bets

In other news, CFO Elizabeth F. Coddington sold 8,977 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $4.34, for a total transaction of $38,960.18. Following the completion of the sale, the chief financial officer now owns 104,428 shares of the company’s stock, valued at $453,217.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.28% of the stock is owned by insiders.

Institutional Trading of Peloton Interactive

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Peloton Interactive by 0.8% in the third quarter. Vanguard Group Inc. now owns 29,603,777 shares of the company’s stock worth $149,499,000 after acquiring an additional 248,314 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Peloton Interactive by 11.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,232,786 shares of the company’s stock worth $11,276,000 after acquiring an additional 234,729 shares during the period. Clear Harbor Asset Management LLC purchased a new stake in Peloton Interactive in the fourth quarter worth $78,000. Mak Capital One LLC purchased a new stake in Peloton Interactive in the third quarter worth $4,932,000. Finally, TB Alternative Assets Ltd. raised its holdings in Peloton Interactive by 31.0% in the fourth quarter. TB Alternative Assets Ltd. now owns 1,014,400 shares of the company’s stock worth $6,178,000 after purchasing an additional 240,300 shares in the last quarter. Hedge funds and other institutional investors own 77.01% of the company’s stock.

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.