Peloton Interactive (NASDAQ:PTON) Rating Reiterated by BMO Capital Markets

Peloton Interactive (NASDAQ:PTON)‘s stock had its “market perform” rating reiterated by equities researchers at BMO Capital Markets in a report released on Tuesday, Benzinga reports. They presently have a $6.50 price objective on the stock. BMO Capital Markets’ price target would indicate a potential upside of 40.69% from the company’s current price.

A number of other equities research analysts have also recently weighed in on PTON. Robert W. Baird upped their price objective on shares of Peloton Interactive from $4.00 to $4.75 and gave the stock a “neutral” rating in a report on Monday, August 26th. Wolfe Research started coverage on Peloton Interactive in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Telsey Advisory Group lifted their price objective on Peloton Interactive from $4.00 to $5.00 and gave the company a “market perform” rating in a research note on Friday, August 23rd. Canaccord Genuity Group increased their target price on Peloton Interactive from $4.00 to $5.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Finally, JPMorgan Chase & Co. cut shares of Peloton Interactive from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $7.00 to $5.00 in a research note on Friday, August 23rd. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $4.60.

Peloton Interactive Stock Performance

Peloton Interactive stock opened at $4.62 on Tuesday. Peloton Interactive has a fifty-two week low of $2.70 and a fifty-two week high of $7.24. The stock’s 50 day simple moving average is $4.09 and its two-hundred day simple moving average is $3.80. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of -2.19 and a beta of 2.04.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings results on Thursday, August 22nd. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.10. The firm had revenue of $644.00 million during the quarter, compared to analysts’ expectations of $633.00 million. During the same period in the previous year, the company earned ($0.68) earnings per share. Peloton Interactive’s revenue for the quarter was up .3% on a year-over-year basis. On average, analysts predict that Peloton Interactive will post -0.65 earnings per share for the current year.

Insider Activity

In other news, insider Nick V. Caldwell bought 31,337 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were bought at an average price of $4.25 per share, for a total transaction of $133,182.25. Following the purchase, the insider now owns 31,337 shares in the company, valued at $133,182.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Nick V. Caldwell acquired 31,337 shares of Peloton Interactive stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $4.25 per share, with a total value of $133,182.25. Following the completion of the purchase, the insider now directly owns 31,337 shares in the company, valued at approximately $133,182.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Elizabeth F. Coddington sold 56,084 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $4.50, for a total transaction of $252,378.00. Following the sale, the chief financial officer now owns 186,466 shares in the company, valued at $839,097. The disclosure for this sale can be found here. Insiders have sold a total of 158,016 shares of company stock valued at $722,587 in the last ninety days. Corporate insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

A number of hedge funds have recently made changes to their positions in the business. DME Capital Management LP purchased a new position in Peloton Interactive in the 2nd quarter worth approximately $22,947,000. Capital World Investors lifted its holdings in shares of Peloton Interactive by 17.6% in the fourth quarter. Capital World Investors now owns 26,259,325 shares of the company’s stock worth $159,919,000 after buying an additional 3,925,000 shares in the last quarter. DNB Asset Management AS boosted its position in shares of Peloton Interactive by 42.4% during the second quarter. DNB Asset Management AS now owns 12,130,553 shares of the company’s stock worth $40,880,000 after acquiring an additional 3,611,069 shares during the last quarter. Clearline Capital LP purchased a new position in Peloton Interactive during the second quarter valued at $7,527,000. Finally, Patient Capital Management LLC increased its holdings in Peloton Interactive by 32.7% in the 4th quarter. Patient Capital Management LLC now owns 6,196,285 shares of the company’s stock valued at $37,735,000 after acquiring an additional 1,527,471 shares during 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.