Peloton Interactive (NASDAQ:PTON) Upgraded by Macquarie to "Outperform" Rating

Peloton Interactive (NASDAQ:PTON - Get Free Report) was upgraded by analysts at Macquarie from a "neutral" rating to an "outperform" rating in a report released on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $10.00 target price on the stock, up from their previous target price of $9.00. Macquarie's price objective suggests a potential upside of 57.73% from the company's previous close.

Other equities analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft raised shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $6.60 price target for the company in a research note on Monday, April 14th. Argus upgraded shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $15.00 price objective for the company in a report on Tuesday, February 11th. Truist Financial upgraded shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $11.00 price objective for the company in a report on Monday, April 28th. Needham & Company LLC restated a "hold" rating on shares of Peloton Interactive in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Peloton Interactive from $8.00 to $7.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $8.30.

Peloton Interactive Price Performance

Shares of PTON traded up $0.01 during trading hours on Tuesday, hitting $6.34. The company's stock had a trading volume of 12,456,924 shares, compared to its average volume of 15,517,619. The business has a 50 day simple moving average of $6.23 and a two-hundred day simple moving average of $7.80. The company has a market cap of $2.47 billion, a price-to-earnings ratio of -8.23 and a beta of 2.25. Peloton Interactive has a 52-week low of $2.83 and a 52-week high of $10.90.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The company had revenue of $624.00 million for the quarter, compared to the consensus estimate of $620.39 million. During the same period in the prior year, the company posted ($0.45) earnings per share. The company's quarterly revenue was down 13.1% compared to the same quarter last year. Research analysts predict that Peloton Interactive will post -0.36 earnings per share for the current year.

Insiders Place Their Bets

In other Peloton Interactive news, CAO Saqib Baig sold 22,662 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $9.75, for a total value of $220,954.50. Following the completion of the transaction, the chief accounting officer now directly owns 130,031 shares in the company, valued at approximately $1,267,802.25. This represents a 14.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Cunningham Cotter sold 187,238 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $6.45, for a total transaction of $1,207,685.10. Following the completion of the transaction, the insider now owns 100,269 shares of the company's stock, valued at $646,735.05. This trade represents a 65.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 674,338 shares of company stock worth $5,522,838. 1.34% of the stock is currently owned by corporate insiders.

Institutional Trading of Peloton Interactive

Hedge funds and other institutional investors have recently modified their holdings of the business. R Squared Ltd purchased a new stake in shares of Peloton Interactive in the 4th quarter worth about $28,000. Russell Investments Group Ltd. grew its position in Peloton Interactive by 969.6% during the 4th quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company's stock valued at $35,000 after purchasing an additional 3,636 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in Peloton Interactive during the 1st quarter valued at about $37,000. Nisa Investment Advisors LLC grew its position in Peloton Interactive by 40.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 6,503 shares of the company's stock valued at $41,000 after purchasing an additional 1,864 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Peloton Interactive by 1,082.5% during the 1st quarter. GAMMA Investing LLC now owns 8,159 shares of the company's stock valued at $52,000 after purchasing an additional 7,469 shares during the last quarter. 77.01% of the stock is owned by hedge funds and other institutional investors.

Peloton Interactive Company Profile

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.