Citigroup Lowers Peloton Interactive (NASDAQ:PTON) Price Target to $5.00

Peloton Interactive (NASDAQ:PTON) had its target price lowered by equities researchers at Citigroup from $8.25 to $5.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential upside of 17.65% from the company’s current price.

PTON has been the topic of a number of other reports. Morgan Stanley boosted their price objective on Peloton Interactive from $6.00 to $6.50 and gave the company an “equal weight” rating in a research note on Wednesday, November 19th. Telsey Advisory Group dropped their price target on Peloton Interactive from $8.00 to $6.00 and set a “market perform” rating on the stock in a research note on Friday, February 6th. Wall Street Zen raised shares of Peloton Interactive from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Zacks Research upgraded shares of Peloton Interactive from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Peloton Interactive from $9.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Peloton Interactive currently has an average rating of “Hold” and an average target price of $8.42.

Peloton Interactive Stock Performance

Peloton Interactive stock opened at $4.25 on Thursday. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -32.69, a PEG ratio of 0.86 and a beta of 2.41. Peloton Interactive has a 52-week low of $4.09 and a 52-week high of $10.25. The firm has a 50 day moving average price of $5.97 and a two-hundred day moving average price of $7.01.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings data on Thursday, February 5th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The firm had revenue of $656.50 million for the quarter, compared to the consensus estimate of $675.04 million. During the same period in the previous year, the business posted ($0.24) EPS. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, equities research analysts predict that Peloton Interactive will post -0.36 EPS for the current fiscal year.

Insider Buying and Selling

In other Peloton Interactive news, insider Jennifer Cunningham Cotter sold 148,432 shares of Peloton Interactive stock in a transaction on Monday, November 17th. The shares were sold at an average price of $7.22, for a total transaction of $1,071,679.04. Following the transaction, the insider directly owned 231,764 shares of the company’s stock, valued at $1,673,336.08. The trade was a 39.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Elizabeth F. Coddington sold 238,014 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $7.18, for a total transaction of $1,708,940.52. Following the completion of the sale, the chief financial officer owned 346,535 shares of the company’s stock, valued at approximately $2,488,121.30. The trade was a 40.72% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,107,129 shares of company stock valued at $7,708,694. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vident Advisory LLC increased its stake in Peloton Interactive by 1.1% in the 2nd quarter. Vident Advisory LLC now owns 110,258 shares of the company’s stock valued at $765,000 after buying an additional 1,180 shares during the last quarter. Cresset Asset Management LLC increased its position in shares of Peloton Interactive by 11.9% during the third quarter. Cresset Asset Management LLC now owns 12,748 shares of the company’s stock valued at $115,000 after acquiring an additional 1,354 shares during the last quarter. Kirr Marbach & Co. LLC IN increased its position in shares of Peloton Interactive by 0.3% during the third quarter. Kirr Marbach & Co. LLC IN now owns 471,946 shares of the company’s stock valued at $4,248,000 after acquiring an additional 1,464 shares during the last quarter. Vise Technologies Inc. lifted its holdings in Peloton Interactive by 10.3% during the third quarter. Vise Technologies Inc. now owns 15,680 shares of the company’s stock worth $141,000 after acquiring an additional 1,466 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Peloton Interactive by 6.0% in the third quarter. Principal Financial Group Inc. now owns 27,126 shares of the company’s stock worth $244,000 after purchasing an additional 1,526 shares during the last quarter. 77.01% of the stock is currently owned by hedge funds and other institutional investors.

About Peloton Interactive

Peloton Interactive, Inc operates a digital fitness platform that combines connected exercise equipment with live and on-demand workout classes. The company’s core products include stationary bikes (Peloton Bike and Bike+), treadmills (Peloton Tread and Tread+), and the Peloton Row. Each device integrates a touchscreen display that streams instructor-led cycling, running, strength, yoga, meditation and other fitness classes. Peloton generates recurring revenue through subscription plans, which grant users access to its growing library of workouts, performance tracking tools and community features.

Founded in 2012 by John Foley and headquartered in New York City, Peloton set out to deliver an immersive home-fitness experience by blending hardware, software and content.