Peloton Interactive (NASDAQ:PTON) Rating Reiterated by JMP Securities

Peloton Interactive (NASDAQ:PTON)‘s stock had its “market perform” rating reaffirmed by stock analysts at JMP Securities in a report released on Tuesday, Benzinga reports.

A number of other brokerages also recently issued reports on PTON. Telsey Advisory Group reiterated a “market perform” rating and issued a $4.00 price target (down from $5.00) on shares of Peloton Interactive in a report on Monday, April 29th. Needham & Company LLC reissued a “hold” rating on shares of Peloton Interactive in a research report on Friday, May 3rd. Bank of America decreased their price target on shares of Peloton Interactive from $4.00 to $3.25 and set an “underperform” rating for the company in a report on Monday, April 29th. Citigroup lowered shares of Peloton Interactive from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $8.00 to $4.00 in a report on Monday, May 6th. Finally, Sanford C. Bernstein lowered Peloton Interactive from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $8.00 to $3.80 in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $5.09.

Peloton Interactive Price Performance

Shares of NASDAQ:PTON traded down $0.02 during trading on Tuesday, reaching $3.23. 1,384,350 shares of the company were exchanged, compared to its average volume of 15,813,598. The business’s fifty day simple moving average is $3.57 and its 200-day simple moving average is $4.43. Peloton Interactive has a 12-month low of $2.70 and a 12-month high of $9.87. The firm has a market capitalization of $1.20 billion, a PE ratio of -1.53 and a beta of 2.02.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.06). The business had revenue of $717.70 million during the quarter, compared to the consensus estimate of $720.85 million. During the same quarter in the prior year, the firm earned ($0.79) EPS. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Peloton Interactive will post -1.62 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Elizabeth F. Coddington sold 8,923 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $3.68, for a total value of $32,836.64. Following the sale, the chief financial officer now owns 186,466 shares in the company, valued at approximately $686,194.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Andrew S. Rendich sold 27,741 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $3.91, for a total value of $108,467.31. Following the sale, the insider now directly owns 113,288 shares in the company, valued at $442,956.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Elizabeth F. Coddington sold 8,923 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $3.68, for a total value of $32,836.64. Following the sale, the chief financial officer now owns 186,466 shares in the company, valued at approximately $686,194.88. The disclosure for this sale can be found here. Insiders have sold 51,600 shares of company stock worth $195,372 over the last ninety days. Corporate insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. purchased a new position in Peloton Interactive in the first quarter worth approximately $5,877,000. Evergreen Wealth Solutions LLC purchased a new stake in shares of Peloton Interactive during the 1st quarter worth $48,000. Sheaff Brock Investment Advisors LLC acquired a new position in shares of Peloton Interactive during the first quarter worth $44,000. Vanguard Group Inc. increased its holdings in Peloton Interactive by 4.0% in the first quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company’s stock valued at $135,212,000 after buying an additional 1,215,397 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Peloton Interactive by 25,397.7% in the first quarter. Russell Investments Group Ltd. now owns 393,685 shares of the company’s stock valued at $1,687,000 after buying an additional 392,141 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.