Peloton Interactive (NASDAQ:PTON) Price Target Lowered to $7.00 at JPMorgan Chase & Co.

Peloton Interactive (NASDAQ:PTON) had its target price decreased by JPMorgan Chase & Co. from $8.00 to $7.00 in a research report report published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other equities research analysts have also issued reports on the company. Citigroup dropped their target price on Peloton Interactive from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. Canaccord Genuity Group upgraded shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Friday, March 14th. Needham & Company LLC reissued a “hold” rating on shares of Peloton Interactive in a research report on Thursday, February 6th. The Goldman Sachs Group raised their target price on shares of Peloton Interactive from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Finally, Macquarie restated a “neutral” rating and issued a $9.00 price objective on shares of Peloton Interactive in a report on Monday, February 10th. Fifteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $8.69.

Peloton Interactive Stock Down 6.3 %

Peloton Interactive stock opened at $5.50 on Tuesday. Peloton Interactive has a twelve month low of $2.70 and a twelve month high of $10.90. The company has a 50 day moving average of $7.17 and a 200-day moving average of $7.63. The stock has a market capitalization of $2.14 billion, a PE ratio of -7.14 and a beta of 2.21.

Peloton Interactive (NASDAQ:PTON) last announced its earnings results on Thursday, February 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). Equities analysts anticipate that Peloton Interactive will post -0.36 EPS for the current fiscal year.

Insider Activity

In other Peloton Interactive news, insider Andrew S. Rendich sold 17,401 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $8.18, for a total transaction of $142,340.18. Following the transaction, the insider now owns 362,573 shares in the company, valued at $2,965,847.14. This trade represents a 4.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Saqib Baig sold 22,662 shares of Peloton Interactive stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $9.75, for a total value of $220,954.50. Following the sale, the chief accounting officer now directly owns 130,031 shares of the company’s stock, valued at $1,267,802.25. This represents a 14.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 674,338 shares of company stock valued at $5,522,838 over the last ninety days. 1.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Peloton Interactive

A number of hedge funds have recently bought and sold shares of the business. R Squared Ltd bought a new stake in Peloton Interactive in the 4th quarter valued at about $28,000. Russell Investments Group Ltd. grew its position in Peloton Interactive by 969.6% during the fourth quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company’s stock worth $35,000 after buying an additional 3,636 shares in the last quarter. GAMMA Investing LLC increased its stake in Peloton Interactive by 1,082.5% during the 1st quarter. GAMMA Investing LLC now owns 8,159 shares of the company’s stock worth $52,000 after acquiring an additional 7,469 shares during the period. Comerica Bank raised its holdings in Peloton Interactive by 29.1% in the 4th quarter. Comerica Bank now owns 6,164 shares of the company’s stock valued at $54,000 after acquiring an additional 1,389 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of Peloton Interactive during the 3rd quarter valued at $58,000. 77.01% of the stock is owned by institutional investors.

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.