Peloton Interactive (NASDAQ:PTON) Upgraded by Bank of America to “Buy” Rating

Peloton Interactive (NASDAQ:PTON) was upgraded by equities researchers at Bank of America from an “underperform” rating to a “buy” rating in a research report issued on Monday, FinViz reports. The firm currently has a $9.00 price target on the stock, up from their prior price target of $3.75. Bank of America‘s price target would suggest a potential upside of 24.14% from the stock’s previous close.

Several other research analysts also recently weighed in on the stock. JMP Securities restated a “market perform” rating on shares of Peloton Interactive in a research note on Thursday, October 3rd. Sanford C. Bernstein upped their target price on shares of Peloton Interactive from $4.25 to $6.50 and gave the company a “market perform” rating in a research note on Friday. Canaccord Genuity Group upped their target price on shares of Peloton Interactive from $4.00 to $5.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. Morgan Stanley upped their price target on shares of Peloton Interactive from $3.50 to $5.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Roth Mkm upped their price target on shares of Peloton Interactive from $5.00 to $6.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Sixteen investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.43.

Peloton Interactive Stock Down 14.7 %

PTON opened at $7.25 on Monday. Peloton Interactive has a 52-week low of $2.70 and a 52-week high of $8.92. The company has a 50 day moving average of $5.11 and a two-hundred day moving average of $4.07. The company has a market cap of $2.73 billion, a P/E ratio of -6.78 and a beta of 1.92.

Peloton Interactive (NASDAQ:PTON) last announced its earnings results on Thursday, October 31st. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The firm had revenue of $586.00 million for the quarter, compared to analyst estimates of $572.97 million. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.44) EPS. Research analysts anticipate that Peloton Interactive will post -0.65 earnings per share for the current year.

Insiders Place Their Bets

In other Peloton Interactive news, insider Nick V. Caldwell bought 31,337 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were bought at an average cost of $4.25 per share, with a total value of $133,182.25. Following the completion of the acquisition, the insider now owns 31,337 shares of the company’s stock, valued at approximately $133,182.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Peloton Interactive news, insider Nick V. Caldwell bought 31,337 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were bought at an average cost of $4.25 per share, with a total value of $133,182.25. Following the completion of the acquisition, the insider now owns 31,337 shares of the company’s stock, valued at approximately $133,182.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Elizabeth F. Coddington sold 56,084 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $4.50, for a total transaction of $252,378.00. Following the transaction, the chief financial officer now owns 186,466 shares of the company’s stock, valued at $839,097. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 167,880 shares of company stock valued at $815,767. Company insiders own 1.34% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

Several institutional investors have recently modified their holdings of PTON. Abundance Wealth Counselors grew its position in Peloton Interactive by 24.7% in the 2nd quarter. Abundance Wealth Counselors now owns 13,380 shares of the company’s stock valued at $45,000 after buying an additional 2,654 shares in the last quarter. Signaturefd LLC grew its position in Peloton Interactive by 2.7% in the 2nd quarter. Signaturefd LLC now owns 113,645 shares of the company’s stock valued at $384,000 after buying an additional 3,032 shares in the last quarter. Arizona State Retirement System grew its position in Peloton Interactive by 3.8% in the 2nd quarter. Arizona State Retirement System now owns 92,781 shares of the company’s stock valued at $314,000 after buying an additional 3,377 shares in the last quarter. Kohmann Bosshard Financial Services LLC grew its position in Peloton Interactive by 50.0% in the 3rd quarter. Kohmann Bosshard Financial Services LLC now owns 15,000 shares of the company’s stock valued at $70,000 after buying an additional 5,000 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its position in Peloton Interactive by 4.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 133,765 shares of the company’s stock valued at $452,000 after buying an additional 5,463 shares in the last quarter. Institutional investors 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.