Morgan Stanley Issues Positive Forecast for Peloton Interactive (NASDAQ:PTON) Stock Price

Peloton Interactive (NASDAQ:PTON) had its price target upped by stock analysts at Morgan Stanley from $3.50 to $5.00 in a report issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential downside of 31.03% from the company’s previous close.

PTON has been the subject of a number of other research reports. Sanford C. Bernstein boosted their price objective on shares of Peloton Interactive from $3.80 to $4.25 and gave the company a “market perform” rating in a research report on Friday, August 23rd. BMO Capital Markets reissued a “market perform” rating and set a $6.50 price target on shares of Peloton Interactive in a research note on Tuesday, October 1st. Wolfe Research initiated coverage on Peloton Interactive in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Macquarie reiterated a “neutral” rating and issued a $2.53 target price on shares of Peloton Interactive in a research note on Thursday, August 22nd. Finally, Telsey Advisory Group raised their price target on Peloton Interactive from $5.00 to $9.00 and gave the stock a “market perform” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.05.

Peloton Interactive Price Performance

Shares of PTON opened at $7.25 on Friday. Peloton Interactive has a 1-year low of $2.70 and a 1-year high of $8.92. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of -6.78 and a beta of 1.92. The firm has a 50 day simple moving average of $5.11 and a 200-day simple moving average of $4.07.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings results 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 firm had revenue of $586.00 million during the quarter, compared to the consensus estimate of $572.97 million. The firm’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the business posted ($0.44) earnings per share. On average, equities analysts expect that Peloton Interactive will post -0.65 earnings per share for the current fiscal year.

Insider Activity at Peloton Interactive

In other Peloton Interactive news, CEO Chris Bruzzo sold 24,977 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $5.80, for a total value of $144,866.60. Following the transaction, the chief executive officer now directly owns 149,240 shares of the company’s stock, valued at $865,592. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Chris Bruzzo sold 24,977 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $5.80, for a total value of $144,866.60. Following the completion of the sale, the chief executive officer now owns 149,240 shares in the company, valued at approximately $865,592. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nick V. Caldwell purchased 31,337 shares of Peloton Interactive stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average cost of $4.25 per share, for a total transaction of $133,182.25. Following the completion of the transaction, the insider now directly owns 31,337 shares in the company, valued at $133,182.25. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 167,880 shares of company stock worth $815,767. 1.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Peloton Interactive

A number of institutional investors have recently added to or reduced their stakes in PTON. Russell Investments Group Ltd. grew its stake in shares of Peloton Interactive by 25,397.7% during the first quarter. Russell Investments Group Ltd. now owns 393,685 shares of the company’s stock valued at $1,687,000 after acquiring an additional 392,141 shares in the last quarter. Select Equity Group L.P. acquired a new stake in Peloton Interactive during the 2nd quarter valued at approximately $1,832,000. The Manufacturers Life Insurance Company grew its stake in 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 purchasing an additional 130,242 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Peloton Interactive by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company’s stock valued at $135,212,000 after purchasing an additional 1,215,397 shares in the last quarter. Finally, Swiss National Bank boosted its stake in shares of Peloton Interactive by 1.2% during the 1st quarter. Swiss National Bank now owns 642,200 shares of the company’s stock valued at $2,752,000 after buying an additional 7,600 shares during the last quarter. Institutional investors and hedge funds own 77.01% of the company’s stock.

About Peloton Interactive

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.