Peloton Interactive (NASDAQ:PTON) Price Target Lowered to $2.53 at Macquarie

Peloton Interactive (NASDAQ:PTON) had its target price decreased by Macquarie from $4.50 to $2.53 in a report released on Friday morning, Benzinga reports. Macquarie currently has a neutral rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Needham & Company LLC reaffirmed a hold rating on shares of Peloton Interactive in a research report on Friday. Sanford C. Bernstein downgraded Peloton Interactive from an outperform rating to a market perform rating and decreased their target price for the stock from $8.00 to $3.80 in a report on Friday. Truist Financial cut their price target on shares of Peloton Interactive from $7.00 to $6.00 and set a hold rating on the stock in a report on Friday, February 2nd. Robert W. Baird decreased their price objective on shares of Peloton Interactive from $5.00 to $3.50 and set a neutral rating for the company in a research note on Friday. Finally, Telsey Advisory Group reiterated a market perform rating and issued a $4.00 price objective (down previously from $5.00) on shares of Peloton Interactive in a research note on Monday, April 29th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $5.70.

Peloton Interactive Price Performance

NASDAQ PTON opened at $3.54 on Friday. Peloton Interactive has a 12 month low of $2.70 and a 12 month high of $9.87. The stock’s 50 day moving average is $3.90 and its 200 day moving average is $4.86.

Peloton Interactive (NASDAQ:PTON) last announced its earnings results on Thursday, May 2nd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.06). The firm had revenue of $717.70 million for the quarter, compared to analysts’ expectations of $720.85 million. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.79) EPS. As a group, equities research analysts expect that Peloton Interactive will post -1.61 earnings per share for the current fiscal year.

Insider Activity at Peloton Interactive

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,977 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $4.34, for a total value of $38,960.18. Following the completion of the transaction, the chief financial officer now directly owns 104,428 shares of the company’s stock, valued at $453,217.52. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 3.28% of the company’s stock.

Institutional Trading of Peloton Interactive

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. boosted its position in shares of Peloton Interactive by 6.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 31,983 shares of the company’s stock worth $195,000 after acquiring an additional 1,921 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Peloton Interactive by 3.5% in the third quarter. Principal Financial Group Inc. now owns 91,109 shares of the company’s stock worth $460,000 after acquiring an additional 3,071 shares in the last quarter. Arizona State Retirement System boosted its holdings in Peloton Interactive by 4.2% in the third quarter. Arizona State Retirement System now owns 90,921 shares of the company’s stock valued at $459,000 after purchasing an additional 3,632 shares during the last quarter. M&T Bank Corp grew its stake in Peloton Interactive by 25.4% during the 3rd quarter. M&T Bank Corp now owns 18,002 shares of the company’s stock valued at $91,000 after purchasing an additional 3,643 shares in the last quarter. Finally, Private Advisor Group LLC increased its holdings in Peloton Interactive by 11.5% during the 4th quarter. Private Advisor Group LLC now owns 37,373 shares of the company’s stock worth $228,000 after purchasing an additional 3,855 shares during the last quarter. Hedge funds and other institutional investors own 77.01% of the company’s stock.

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.