Peloton Interactive (NASDAQ:PTON) Rating Lowered to “Hold” at Argus

Peloton Interactive (NASDAQ:PTON) was downgraded by equities researchers at Argus from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Marketbeat.com reports.

Several other equities analysts have also commented on the company. JPMorgan Chase & Co. reduced their price objective on Peloton Interactive from $9.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, February 6th. Telsey Advisory Group lowered their price objective on shares of Peloton Interactive from $8.00 to $6.00 and set a “market perform” rating for the company in a report on Friday, February 6th. Bank of America set a $9.00 target price on shares of Peloton Interactive in a report on Friday, January 30th. Wall Street Zen raised shares of Peloton Interactive from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Finally, UBS Group reaffirmed a “buy” rating on shares of Peloton Interactive in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.71.

Peloton Interactive Price Performance

PTON stock opened at $4.32 on Tuesday. The firm has a 50 day simple moving average of $6.06 and a two-hundred day simple moving average of $7.04. The stock has a market cap of $1.80 billion, a PE ratio of -33.23, a P/E/G ratio of 0.89 and a beta of 2.41. Peloton Interactive has a one year low of $4.09 and a one year high of $10.25.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings data on Thursday, February 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 prior year, the company earned ($0.24) earnings per share. The business’s revenue was down 2.5% compared to the same quarter last year. On average, research analysts expect that Peloton Interactive will post -0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Charles Peter Kirol sold 22,520 shares of Peloton Interactive stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $6.47, for a total value of $145,704.40. Following the sale, the chief operating officer directly owned 81,001 shares in the company, valued at approximately $524,076.47. This trade represents a 21.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Saqib Baig sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $6.87, for a total value of $68,700.00. Following the transaction, the chief accounting officer owned 170,665 shares of the company’s stock, valued at approximately $1,172,468.55. This represents a 5.54% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 1,107,129 shares of company stock worth $7,708,694. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

Large investors have recently modified their holdings of the stock. Bessemer Group Inc. increased its position in shares of Peloton Interactive by 1,602.6% during the second quarter. Bessemer Group Inc. now owns 5,312 shares of the company’s stock valued at $37,000 after buying an additional 5,000 shares during the period. MAI Capital Management boosted its position in Peloton Interactive by 64.6% during the 2nd quarter. MAI Capital Management now owns 5,498 shares of the company’s stock valued at $38,000 after acquiring an additional 2,158 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Peloton Interactive during the 3rd quarter worth approximately $48,000. Quarry LP bought a new position in shares of Peloton Interactive in the 3rd quarter worth approximately $71,000. Finally, Farther Finance Advisors LLC raised its position in shares of Peloton Interactive by 158.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 7,986 shares of the company’s stock worth $72,000 after acquiring an additional 4,894 shares in the last quarter. Institutional investors own 77.01% of the company’s stock.

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.