Peloton Interactive (NASDAQ:PTON) Upgraded to Buy at Truist Financial

Peloton Interactive (NASDAQ:PTON) was upgraded by Truist Financial from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, Marketbeat reports. The brokerage presently has a $11.00 price objective on the stock. Truist Financial’s price target would indicate a potential upside of 58.73% from the stock’s current price.

PTON has been the subject of several other research reports. Telsey Advisory Group reaffirmed a “market perform” rating and set a $11.00 target price on shares of Peloton Interactive in a report on Monday, February 3rd. The Goldman Sachs Group boosted their price objective on Peloton Interactive from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Bank of America lowered their target price on Peloton Interactive from $11.50 to $9.50 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. JMP Securities restated a “market perform” rating on shares of Peloton Interactive in a research note on Monday, April 14th. Finally, Morgan Stanley lowered their price objective on Peloton Interactive from $5.75 to $4.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Fourteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Peloton Interactive has an average rating of “Hold” and a consensus target price of $8.59.

Peloton Interactive Stock Performance

Shares of NASDAQ:PTON opened at $6.93 on Monday. Peloton Interactive has a 52-week low of $2.70 and a 52-week high of $10.90. The company has a market capitalization of $2.70 billion, a P/E ratio of -9.00 and a beta of 2.21. The company has a 50-day simple moving average of $6.37 and a 200 day simple moving average of $7.74.

Peloton Interactive (NASDAQ:PTON) last issued its earnings results on Thursday, February 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.04). As a group, equities analysts forecast that Peloton Interactive will post -0.36 earnings per share for the current year.

Insider Activity at Peloton Interactive

In other Peloton Interactive news, insider Nick V. Caldwell sold 68,727 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $6.59, for a total value of $452,910.93. Following the sale, the insider now owns 474,234 shares in the company, valued at $3,125,202.06. This trade represents a 12.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Saqib Baig sold 22,662 shares of the business’s 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 owns 130,031 shares in the company, 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 three months. 1.34% of the stock is owned by insiders.

Institutional Trading of Peloton Interactive

Several hedge funds and other institutional investors have recently made changes to their positions in PTON. Concurrent Investment Advisors LLC acquired a new stake in Peloton Interactive during the 1st quarter worth approximately $510,000. Bank of New York Mellon Corp lifted its holdings in shares of Peloton Interactive by 1.8% during the first quarter. Bank of New York Mellon Corp now owns 988,547 shares of the company’s stock worth $6,248,000 after purchasing an additional 17,584 shares during the period. Teacher Retirement System of Texas bought a new stake in shares of Peloton Interactive in the first quarter worth $431,000. Vontobel Holding Ltd. increased its holdings in Peloton Interactive by 327.3% in the first quarter. Vontobel Holding Ltd. now owns 87,453 shares of the company’s stock valued at $553,000 after purchasing an additional 66,985 shares during the period. Finally, Jaffetilchin Investment Partners LLC raised its position in Peloton Interactive by 22.8% during the 1st quarter. Jaffetilchin Investment Partners LLC now owns 53,829 shares of the company’s stock worth $340,000 after purchasing an additional 9,991 shares during the last quarter. 77.01% of the stock is currently 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.