Peloton Interactive (NASDAQ:PTON) Given New $11.00 Price Target at Macquarie

Key Points

• Macquarie has raised Peloton Interactive's price target from $10.00 to $11.00, indicating a potential upside of 29.56% from the stock's previous close, with an "outperform" rating.
• Peloton recently reported quarterly earnings of $0.05 EPS, surpassing analysts' expectations, although its revenue decreased by 5.8% year-over-year.
• Insider transactions saw significant shares sold, with one insider selling over 30,000 shares, leading to a 5.23% reduction in their ownership stake.

Peloton Interactive (NASDAQ:PTON - Get Free Report) had its price target upped by equities researchers at Macquarie from $10.00 to $11.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Macquarie's price objective points to a potential upside of 29.56% from the stock's previous close.

Several other research analysts have also recently commented on PTON. Telsey Advisory Group reiterated a "market perform" rating and issued a $8.00 target price on shares of Peloton Interactive in a research note on Thursday, August 7th. UBS Group upgraded Peloton Interactive from a "neutral" rating to a "buy" rating and boosted their price target for the company from $7.50 to $11.00 in a research note on Wednesday, July 30th. Needham & Company LLC restated a "hold" rating on shares of Peloton Interactive in a research note on Thursday, August 7th. Morgan Stanley increased their target price on Peloton Interactive from $4.00 to $5.75 and gave the stock an "equal weight" rating in a report on Monday, August 4th. Finally, The Goldman Sachs Group raised Peloton Interactive from a "neutral" rating to a "buy" rating and boosted their price target for the company from $7.00 to $11.50 in a research note on Friday, August 8th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $8.79.

Peloton Interactive Trading Down 2.6%

NASDAQ:PTON traded down $0.23 on Thursday, hitting $8.49. 12,928,794 shares of the company's stock traded hands, compared to its average volume of 14,500,572. The company has a market cap of $3.31 billion, a PE ratio of -27.39 and a beta of 2.08. The firm has a 50-day moving average price of $6.82 and a 200-day moving average price of $6.91. Peloton Interactive has a 1 year low of $2.93 and a 1 year high of $10.90.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.12. The company had revenue of $606.90 million for the quarter, compared to analyst estimates of $580.29 million. The firm's quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.08) EPS. On average, research analysts forecast that Peloton Interactive will post -0.36 EPS for the current fiscal year.

Insider Buying and Selling at Peloton Interactive

In related news, insider Nick V. Caldwell sold 30,290 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $8.00, for a total transaction of $242,320.00. Following the transaction, the insider directly owned 548,378 shares in the company, valued at $4,387,024. This trade represents a 5.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Elizabeth F. Coddington sold 38,708 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $6.96, for a total transaction of $269,407.68. Following the completion of the transaction, the chief financial officer owned 294,342 shares in the company, valued at $2,048,620.32. The trade was a 11.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 606,875 shares of company stock valued at $3,931,078 in the last ninety days. 1.34% of the stock is owned by corporate insiders.

Institutional Trading of Peloton Interactive

A number of large investors have recently made changes to their positions in PTON. Envestnet Asset Management Inc. purchased a new position in shares of Peloton Interactive during the 4th quarter worth $104,000. Russell Investments Group Ltd. grew its stake in shares of Peloton Interactive by 969.6% in the 4th quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company's stock worth $35,000 after buying an additional 3,636 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of Peloton Interactive by 29.0% in the 4th quarter. Cerity Partners LLC now owns 72,537 shares of the company's stock worth $608,000 after buying an additional 16,311 shares during the last quarter. Invesco Ltd. raised its position in shares of Peloton Interactive by 106.0% during the 4th quarter. Invesco Ltd. now owns 1,357,466 shares of the company's stock valued at $11,810,000 after buying an additional 698,621 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Peloton Interactive in the 4th quarter valued at about $1,158,000. 77.01% of the stock is currently owned by institutional investors.

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.

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