Peloton Interactive (NASDAQ:PTON) Downgraded by Wall Street Zen to “Hold”

Peloton Interactive (NASDAQ:PTON) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

PTON has been the subject of a number of other research reports. Morgan Stanley lifted their price objective on Peloton Interactive from $6.00 to $6.50 and gave the company an “equal weight” rating in a research report on Wednesday, November 19th. Macquarie Infrastructure lifted their price target on Peloton Interactive from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Tuesday, November 11th. Zacks Research upgraded Peloton Interactive from a “hold” rating to a “strong-buy” rating in a report on Monday, January 26th. Argus lowered shares of Peloton Interactive from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Telsey Advisory Group decreased their target price on shares of Peloton Interactive from $8.00 to $6.00 and set a “market perform” rating for the company in a research report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Peloton Interactive has a consensus rating of “Hold” and an average price target of $8.42.

Peloton Interactive Stock Performance

PTON stock opened at $4.25 on Friday. The firm has a 50 day simple moving average of $5.97 and a 200 day simple moving average of $7.01. Peloton Interactive has a 52 week low of $4.09 and a 52 week high of $10.25. The stock has a market cap of $1.78 billion, a P/E ratio of -32.69, a P/E/G ratio of 0.86 and a beta of 2.41.

Peloton Interactive (NASDAQ:PTON) last released its earnings results 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 business had revenue of $656.50 million for the quarter, compared to the consensus estimate of $675.04 million. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the firm posted ($0.24) EPS. Sell-side analysts predict that Peloton Interactive will post -0.36 EPS for the current year.

Insider Transactions at Peloton Interactive

In related news, insider Jennifer Cunningham Cotter sold 131,495 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $6.64, for a total transaction of $873,126.80. Following the completion of the sale, the insider directly owned 100,269 shares of the company’s stock, valued at approximately $665,786.16. This represents a 56.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Saqib Baig sold 10,000 shares of Peloton Interactive stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $6.87, for a total transaction of $68,700.00. Following the completion of the transaction, the chief accounting officer owned 170,665 shares in the company, valued at $1,172,468.55. This trade represents a 5.54% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 1,107,129 shares of company stock worth $7,708,694. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Peloton Interactive

A number of institutional investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its stake in Peloton Interactive by 342.6% during the 1st quarter. Royal Bank of Canada now owns 616,367 shares of the company’s stock valued at $3,896,000 after purchasing an additional 477,106 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Peloton Interactive by 2.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 290,981 shares of the company’s stock worth $1,839,000 after buying an additional 6,921 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Peloton Interactive by 3,132.6% during the first quarter. NewEdge Advisors LLC now owns 15,549 shares of the company’s stock worth $98,000 after buying an additional 15,068 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Peloton Interactive by 27.1% in the first quarter. Goldman Sachs Group Inc. now owns 7,056,642 shares of the company’s stock valued at $44,598,000 after acquiring an additional 1,503,680 shares during the period. Finally, Caxton Associates LLP bought a new stake in shares of Peloton Interactive in the first quarter valued at approximately $282,000. 77.01% of the stock is currently owned by institutional investors.

Peloton Interactive Company Profile

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.