Peloton Interactive (NASDAQ:PTON) Stock Price Target Lowered at Canaccord Genuity Group

Key Points

• Canaccord Genuity lowered Peloton’s price target from $10 to $8 while maintaining a “buy” rating, implying 56.25% upside from the prior close.
• Analyst sentiment is mixed: Peloton has an average “hold” rating and a consensus price target of $7.60, with five Buy, seven Hold, and one Sell rating.
• Peloton shares opened at $5.12, while recent results exceeded estimates with quarterly revenue of $607.7 million and EPS of $0.13; insiders sold 217,712 shares worth about $1.18 million during the last quarter.

Peloton Interactive (NASDAQ:PTON - Get Free Report) had its price objective lowered by stock analysts at Canaccord Genuity Group from $10.00 to $8.00 in a report issued on Friday, Benzinga reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's price target indicates a potential upside of 56.25% from the company's previous close.

A number of other research firms also recently commented on PTON. Morgan Stanley downgraded shares of Peloton Interactive from an "equal weight" rating to an "underweight" rating and dropped their target price for the stock from $5.00 to $4.50 in a report on Tuesday, September 8th. UBS Group reduced their target price on shares of Peloton Interactive from $11.00 to $10.00 and set a "buy" rating for the company in a report on Tuesday, September 8th. The Goldman Sachs Group decreased their price target on shares of Peloton Interactive from $7.50 to $6.50 and set a "buy" rating on the stock in a research report on Monday, October 26th. Weiss Ratings raised Peloton Interactive from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, October 2nd. Finally, Telsey Advisory Group reiterated a "market perform" rating on shares of Peloton Interactive in a research report on Monday, August 3rd. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $7.60.

Peloton Interactive Price Performance

Shares of Peloton Interactive stock opened at $5.12 on Friday. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of 42.67, a price-to-earnings-growth ratio of 0.40 and a beta of 2.56. The business has a fifty day simple moving average of $5.12 and a 200-day simple moving average of $5.24. Peloton Interactive has a fifty-two week low of $3.65 and a fifty-two week high of $7.92.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.02. Peloton Interactive had a negative return on equity of 23.92% and a net margin of 2.58%. The firm had revenue of $607.70 million for the quarter, compared to analyst estimates of $596.60 million. During the same period in the previous year, the company earned $0.05 earnings per share. Peloton Interactive's revenue was up .1% compared to the same quarter last year. Analysts anticipate that Peloton Interactive will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Peloton Interactive news, Director Karen Boone sold 25,000 shares of the business's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $5.35, for a total transaction of $133,750.00. Following the sale, the director owned 236,063 shares in the company, valued at approximately $1,262,937.05. The trade was a 9.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dion Sanders sold 112,512 shares of the firm's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $5.45, for a total transaction of $613,190.40. Following the completion of the transaction, the insider owned 18,801 shares of the company's stock, valued at approximately $102,465.45. The trade was a 85.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 217,712 shares of company stock worth $1,177,289 in the last quarter. 1.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Peloton Interactive

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Traynor Capital Management Inc. boosted its position in shares of Peloton Interactive by 15.2% in the third quarter. Traynor Capital Management Inc. now owns 33,749 shares of the company's stock worth $168,000 after buying an additional 4,446 shares during the period. State of Wyoming raised its position in Peloton Interactive by 56.0% during the third quarter. State of Wyoming now owns 133,455 shares of the company's stock valued at $666,000 after buying an additional 47,928 shares during the period. Fifth Third Wealth Advisors LLC raised its position in Peloton Interactive by 92.8% during the third quarter. Fifth Third Wealth Advisors LLC now owns 24,364 shares of the company's stock valued at $122,000 after buying an additional 11,725 shares during the period. Sterling Capital Management LLC lifted its stake in Peloton Interactive by 37.0% in the 3rd quarter. Sterling Capital Management LLC now owns 10,218 shares of the company's stock worth $51,000 after acquiring an additional 2,759 shares in the last quarter. Finally, Kirr Marbach & Co. LLC IN lifted its stake in Peloton Interactive by 1.4% in the 3rd quarter. Kirr Marbach & Co. LLC IN now owns 491,557 shares of the company's stock worth $2,453,000 after acquiring an additional 6,992 shares in the last quarter. Institutional investors and hedge funds own 77.01% of the company's stock.

About Peloton Interactive

Peloton Interactive, Inc is a connected-fitness company that combines exercise equipment, digital content and subscription services. Its product portfolio includes the Peloton Bike, Bike+, Tread treadmill, Row rowing machine and related accessories, apparel and fitness products. The company's equipment is designed to connect users with live and on-demand instructor-led workouts through integrated screens and digital platforms.

Peloton offers subscription memberships that provide access to classes in cycling, running, strength training, yoga, meditation, rowing and other fitness disciplines.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.