Peloton Interactive (NASDAQ:PTON) Price Target Cut to $3.25 by Analysts at Bank of America

Peloton Interactive (NASDAQ:PTON) had its target price reduced by Bank of America from $4.00 to $3.25 in a report issued on Monday morning, Benzinga reports. Bank of America currently has an underperform rating on the stock.

A number of other analysts also recently issued reports on the company. Truist Financial lowered their target price on Peloton Interactive from $7.00 to $6.00 and set a hold rating on the stock in a research report on Friday, February 2nd. Telsey Advisory Group reaffirmed a market perform rating and issued a $4.00 target price (down previously from $5.00) on shares of Peloton Interactive in a research report on Monday. JPMorgan Chase & Co. lowered their target price on Peloton Interactive from $9.00 to $8.00 and set an overweight rating on the stock in a research report on Friday, February 2nd. The Goldman Sachs Group lowered their target price on Peloton Interactive from $6.50 to $5.75 and set a neutral rating on the stock in a research report on Friday, February 2nd. Finally, Morgan Stanley assumed coverage on Peloton Interactive in a research report on Monday, March 11th. They issued an equal weight rating and a $3.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $7.40.

Peloton Interactive Price Performance

PTON opened at $3.22 on Monday. The business’s 50-day moving average price is $3.97 and its two-hundred day moving average price is $4.89. Peloton Interactive has a 1 year low of $2.91 and a 1 year high of $9.87. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -1.31 and a beta of 1.96.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings results on Thursday, February 1st. The company reported ($0.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.01. The firm had revenue of $743.60 million during the quarter, compared to analyst estimates of $733.17 million. During the same period in the prior year, the business earned ($0.98) EPS. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. Sell-side analysts anticipate that Peloton Interactive will post -1.6 earnings per share for the current fiscal year.

Insider Transactions at Peloton Interactive

In other news, CFO Elizabeth F. Coddington sold 8,977 shares of the business’s 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 in the company, valued at $453,217.52. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.28% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

A number of institutional investors have recently made changes to their positions in the company. First Trust Direct Indexing L.P. bought a new stake in shares of Peloton Interactive during the first quarter worth approximately $94,000. Lee Johnson Capital Management LLC bought a new stake in shares of Peloton Interactive during the first quarter worth approximately $2,837,000. Abundance Wealth Counselors bought a new stake in shares of Peloton Interactive during the first quarter worth approximately $46,000. State of Michigan Retirement System boosted its stake in shares of Peloton Interactive by 412.1% in the first quarter. State of Michigan Retirement System now owns 596,477 shares of the company’s stock valued at $2,556,000 after buying an additional 480,000 shares during the period. Finally, Johnson & White Wealth Management LLC bought a new stake in shares of Peloton Interactive in the first quarter valued at approximately $43,000. 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.