Peloton Interactive (NASDAQ:PTON) Upgraded to Buy at Wall Street Zen

Peloton Interactive (NASDAQ:PTON) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Peloton Interactive in a report on Friday, January 9th. Guggenheim began coverage on shares of Peloton Interactive in a report on Wednesday, December 10th. They set a “neutral” rating for the company. Citigroup dropped their price target on shares of Peloton Interactive from $8.25 to $5.00 and set a “neutral” rating for the company in a research report on Thursday, February 12th. Truist Financial cut their price target on shares of Peloton Interactive from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, February 6th. Finally, Telsey Advisory Group decreased their price objective on shares of Peloton Interactive from $8.00 to $6.00 and set a “market perform” rating on the stock in a research report on Friday, February 6th. Seven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $8.42.

Peloton Interactive Trading Up 8.8%

PTON opened at $4.43 on Friday. Peloton Interactive has a 12 month low of $3.65 and a 12 month high of $9.20. The business’s 50-day moving average price is $4.55 and its 200-day moving average price is $6.25. The company has a market cap of $1.88 billion, a P/E ratio of -34.08, a P/E/G ratio of 0.67 and a beta of 2.47.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings results on Thursday, February 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The firm’s revenue was down 2.5% on a year-over-year basis. During the same period last year, the company posted ($0.24) earnings per share. Equities research analysts forecast that Peloton Interactive will post -0.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Peloton Interactive news, insider Jennifer Cunningham Cotter sold 154,497 shares of the business’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $4.41, for a total transaction of $681,331.77. Following the transaction, the insider directly owned 100,269 shares of the company’s stock, valued at approximately $442,186.29. The trade was a 60.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Elizabeth F. Coddington sold 21,819 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $3.87, for a total transaction of $84,439.53. Following the completion of the transaction, the chief financial officer owned 346,535 shares of the company’s stock, valued at $1,341,090.45. This trade represents a 5.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,052,924 shares of company stock valued at $4,823,092 over the last quarter. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Peloton Interactive

A number of institutional investors have recently bought and sold shares of PTON. Vanguard Group Inc. lifted its holdings in Peloton Interactive by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 39,227,591 shares of the company’s stock worth $241,642,000 after buying an additional 591,300 shares during the period. Eminence Capital LP raised its position in shares of Peloton Interactive by 20.3% in the 4th quarter. Eminence Capital LP now owns 18,154,907 shares of the company’s stock worth $111,834,000 after acquiring an additional 3,069,497 shares in the last quarter. DNB Asset Management AS lifted its stake in shares of Peloton Interactive by 142.4% in the 4th quarter. DNB Asset Management AS now owns 10,776,627 shares of the company’s stock valued at $66,384,000 after purchasing an additional 6,331,510 shares during the period. Geode Capital Management LLC lifted its stake in shares of Peloton Interactive by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 9,741,115 shares of the company’s stock valued at $60,015,000 after purchasing an additional 369,614 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Peloton Interactive by 27.1% during the first quarter. Goldman Sachs Group Inc. now owns 7,056,642 shares of the company’s stock valued at $44,598,000 after purchasing an additional 1,503,680 shares in the last quarter. 77.01% of the stock is owned by 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.