Sanford C. Bernstein Downgrades Peloton Interactive (NASDAQ:PTON) to Market Perform

Sanford C. Bernstein downgraded shares of Peloton Interactive (NASDAQ:PTON - Free Report) from an outperform rating to a market perform rating in a report published on Friday, MarketBeat Ratings reports. They currently have $3.80 price target on the stock, down from their previous price target of $8.00.

A number of other analysts also recently weighed in on the company. The Goldman Sachs Group decreased their price target on Peloton Interactive from $6.50 to $5.75 and set a neutral rating on the stock in a research note on Friday, February 2nd. Bank of America decreased their price target on Peloton Interactive from $4.00 to $3.25 and set an underperform rating on the stock in a research note on Monday. Morgan Stanley began coverage on Peloton Interactive in a research note on Monday, March 11th. They issued an equal weight rating and a $3.00 price target on the stock. JPMorgan Chase & Co. decreased their price target on Peloton Interactive from $9.00 to $8.00 and set an overweight rating on the stock in a research note on Friday, February 2nd. Finally, Truist Financial decreased their price target on Peloton Interactive from $7.00 to $6.00 and set a hold rating on the stock in a research note on Friday, February 2nd. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $6.15.

Peloton Interactive Price Performance

Shares of NASDAQ:PTON traded up $0.29 during trading on Friday, reaching $3.43. The company had a trading volume of 34,761,060 shares, compared to its average volume of 14,940,079. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -1.40 and a beta of 2.01. The stock's fifty day moving average price is $3.94 and its 200 day moving average price is $4.88. Peloton Interactive has a fifty-two week low of $2.70 and a fifty-two week high of $9.87.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last released its earnings results on Thursday, May 2nd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.06). The firm had revenue of $717.70 million during the quarter, compared to analyst estimates of $720.85 million. The company's revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.79) earnings per share. On average, equities analysts anticipate that Peloton Interactive will post -1.61 EPS for the current fiscal year.

Insider Transactions at Peloton Interactive

In other news, CFO Elizabeth F. Coddington sold 8,977 shares of the business's stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $4.34, for a total value of $38,960.18. Following the completion of the transaction, the chief financial officer now directly owns 104,428 shares of the company's stock, valued at $453,217.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.28% of the company's stock.

Hedge Funds Weigh In On Peloton Interactive

Institutional investors have recently made changes to their positions in the stock. Johnson & White Wealth Management LLC acquired a new position in shares of Peloton Interactive in the first quarter worth $43,000. Abundance Wealth Counselors acquired a new position in Peloton Interactive in the first quarter valued at $46,000. Rakuten Securities Inc. acquired a new position in Peloton Interactive in the fourth quarter valued at $47,000. Carl P. Sherr & Co. LLC acquired a new position in Peloton Interactive in the third quarter valued at $55,000. Finally, Clear Harbor Asset Management LLC acquired a new position in Peloton Interactive in the fourth quarter valued at $78,000. 77.01% of the stock is owned by institutional investors and hedge funds.

About Peloton Interactive

Peloton Interactive, Inc operates interactive fitness platform in North America and internationally. The company offers connected fitness products with touchscreen that streams live and on-demand classes under the Peloton Bike, Peloton Bike+, Peloton Tread, Peloton Tread+, Peloton Guide, and Peloton Row names.