Sanford C. Bernstein Forecasts Strong Price Appreciation for Peloton Interactive (NASDAQ:PTON) Stock

Peloton Interactive (NASDAQ:PTON) had its price objective lifted by stock analysts at Sanford C. Bernstein from $4.25 to $6.50 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Sanford C. Bernstein’s price objective would indicate a potential downside of 12.04% from the company’s current price.

A number of other analysts also recently commented on PTON. Truist Financial boosted their price objective on shares of Peloton Interactive from $6.00 to $10.00 and gave the stock a “hold” rating in a report on Friday. Needham & Company LLC restated a “hold” rating on shares of Peloton Interactive in a report on Friday. Morgan Stanley lifted their price objective on Peloton Interactive from $3.50 to $5.00 and gave the stock an “equal weight” rating in a report on Friday. TD Cowen upped their target price on Peloton Interactive from $3.00 to $4.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Finally, Macquarie lifted their price target on Peloton Interactive from $4.90 to $9.00 and gave the stock a “neutral” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Peloton Interactive has a consensus rating of “Hold” and an average target price of $5.98.

Peloton Interactive Stock Performance

NASDAQ:PTON traded down $1.11 during mid-day trading on Friday, reaching $7.39. The stock had a trading volume of 36,752,875 shares, compared to its average volume of 16,195,843. Peloton Interactive has a twelve month low of $2.70 and a twelve month high of $8.92. The business has a 50 day simple moving average of $5.07 and a 200 day simple moving average of $4.03. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of -4.89 and a beta of 2.04.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The company had revenue of $586.00 million during the quarter, compared to analysts’ expectations of $572.97 million. During the same quarter in the previous year, the company earned ($0.44) earnings per share. Peloton Interactive’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, sell-side analysts expect that Peloton Interactive will post -0.65 earnings per share for the current year.

Insider Buying and Selling at Peloton Interactive

In other news, CAO Saqib Baig sold 50,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $4.88, for a total transaction of $244,000.00. Following the transaction, the chief accounting officer now directly owns 87,014 shares in the company, valued at $424,628.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Saqib Baig sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $4.88, for a total transaction of $244,000.00. Following the completion of the transaction, the chief accounting officer now owns 87,014 shares of the company’s stock, valued at approximately $424,628.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Nick V. Caldwell purchased 31,337 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was bought at an average price of $4.25 per share, for a total transaction of $133,182.25. Following the acquisition, the insider now owns 31,337 shares in the company, valued at $133,182.25. The disclosure for this purchase can be found here. Insiders sold 167,880 shares of company stock worth $815,767 in the last 90 days. 1.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Peloton Interactive

Hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. raised its holdings 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 during the period. Select Equity Group L.P. purchased a new position in shares of Peloton Interactive in the 2nd quarter valued at $1,832,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Peloton Interactive by 253.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 181,589 shares of the company’s stock valued at $614,000 after acquiring an additional 130,242 shares in the last quarter. Vanguard Group Inc. boosted its position in Peloton Interactive by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company’s stock worth $135,212,000 after purchasing an additional 1,215,397 shares during the period. Finally, Swiss National Bank increased its holdings in Peloton Interactive by 1.2% in the 1st quarter. Swiss National Bank now owns 642,200 shares of the company’s stock valued at $2,752,000 after purchasing an additional 7,600 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.