Peloton Interactive (NASDAQ:PTON) Cut to Neutral at Citigroup

Citigroup lowered shares of Peloton Interactive (NASDAQ:PTON) from a buy rating to a neutral rating in a research note published on Monday, Marketbeat Ratings reports. The brokerage currently has $4.00 price target on the stock, down from their prior price target of $8.00.

Several other research firms have also recently weighed in on PTON. Roth Mkm cut their target price on Peloton Interactive from $7.00 to $5.00 and set a buy rating for the company in a research note on Friday, May 3rd. Truist Financial decreased 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. Needham & Company LLC reissued a hold rating on shares of Peloton Interactive in a report on Friday, May 3rd. JPMorgan Chase & Co. decreased their price target on shares of Peloton Interactive from $8.00 to $7.00 and set an overweight rating on the stock in a report on Friday, May 3rd. Finally, Morgan Stanley began coverage on shares of Peloton Interactive in a research note on Monday, March 11th. They issued an equal weight rating and a $3.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $5.11.

Peloton Interactive Stock Down 3.7 %

NASDAQ:PTON opened at $3.94 on Monday. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -1.87 and a beta of 2.01. Peloton Interactive has a twelve month low of $2.70 and a twelve month high of $9.87. The stock’s 50 day moving average price is $3.89 and its two-hundred day moving average price is $4.85.

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

Insider Buying and Selling

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,977 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were 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 approximately $453,217.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.28% of the stock is owned by company insiders.

Institutional Trading of Peloton Interactive

Several institutional investors and hedge funds have recently modified their holdings of the stock. Rakuten Securities Inc. bought a new stake in Peloton Interactive during the fourth quarter worth $47,000. Johnson & White Wealth Management LLC bought a new stake in shares of Peloton Interactive during the 1st quarter worth $43,000. Abundance Wealth Counselors purchased a new position in shares of Peloton Interactive in the 1st quarter worth about $46,000. Carl P. Sherr & Co. LLC bought a new position in Peloton Interactive during the third quarter valued at about $55,000. Finally, Clear Harbor Asset Management LLC purchased a new stake in Peloton Interactive during the fourth quarter worth about $78,000. 77.01% of the stock is owned by hedge funds and other institutional investors.

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.