Peloton Interactive (NASDAQ:PTON) Upgraded to Buy at Truist Financial

Peloton Interactive (NASDAQ:PTON - Get Free Report) was upgraded by stock analysts at Truist Financial from a "hold" rating to a "buy" rating in a research note issued on Monday, MarketBeat Ratings reports. The firm currently has a $11.00 target price on the stock. Truist Financial's price objective points to a potential upside of 59.65% from the stock's previous close.

Other equities research analysts also recently issued research reports about the company. Bank of America lowered their price target on Peloton Interactive from $11.50 to $9.50 and set a "buy" rating for the company in a report on Tuesday, April 15th. JMP Securities reissued a "market perform" rating on shares of Peloton Interactive in a report on Monday, April 14th. JPMorgan Chase & Co. decreased their target price on Peloton Interactive from $8.00 to $7.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Morgan Stanley decreased their target price on Peloton Interactive from $5.75 to $4.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Finally, Citigroup decreased their target price on Peloton Interactive from $11.00 to $10.00 and set a "neutral" rating for the company in a report on Monday, February 10th. Fourteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $8.59.

Peloton Interactive Stock Performance

PTON stock traded down $0.04 during trading on Monday, reaching $6.89. 10,766,884 shares of the company traded hands, compared to its average volume of 16,095,044. Peloton Interactive has a 12 month low of $2.70 and a 12 month high of $10.90. The business has a 50 day simple moving average of $6.34 and a 200 day simple moving average of $7.73. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of -8.95 and a beta of 2.21.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.04). As a group, research analysts forecast that Peloton Interactive will post -0.36 EPS for the current year.

Insider Buying and Selling at Peloton Interactive

In other Peloton Interactive news, insider Andrew S. Rendich sold 17,401 shares of Peloton Interactive stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $8.18, for a total value of $142,340.18. Following the sale, the insider now owns 362,573 shares of the company's stock, valued at approximately $2,965,847.14. The trade was a 4.58 % 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 47,457 shares of Peloton Interactive stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $9.11, for a total transaction of $432,333.27. Following the sale, the insider now owns 287,507 shares of the company's stock, valued at approximately $2,619,188.77. The trade was a 14.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 674,338 shares of company stock valued at $5,522,838. 1.34% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Peloton Interactive

A number of hedge funds and other institutional investors have recently modified their holdings of PTON. Cerity Partners LLC raised its position in shares of Peloton Interactive by 75.9% during the 1st quarter. Cerity Partners LLC now owns 127,610 shares of the company's stock worth $806,000 after purchasing an additional 55,073 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Peloton Interactive by 40.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 6,503 shares of the company's stock worth $41,000 after purchasing an additional 1,864 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new position in shares of Peloton Interactive during the 1st quarter worth approximately $510,000. Bank of New York Mellon Corp raised its position in shares of Peloton Interactive by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 988,547 shares of the company's stock worth $6,248,000 after purchasing an additional 17,584 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in shares of Peloton Interactive during the 1st quarter worth approximately $431,000. 77.01% of the stock is currently 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.