Peloton Interactive's (PTON) Buy Rating Reiterated at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group has reiterated a "buy" rating for Peloton Interactive (PTON), setting a price target of $10.00, which indicates a potential upside of 15.34% from the stock's previous close.
• The stock has been given mixed reviews from analysts, with eight analysts rating it as a "buy" and nine giving it a "hold" rating, resulting in an average target price of $9.36.
• Peloton reported earnings that beat analysts' expectations, with a revenue of $606.90 million for the quarter, although this reflects a 5.8% year-over-year decline.

Peloton Interactive (NASDAQ:PTON - Get Free Report)'s stock had its "buy" rating reaffirmed by Canaccord Genuity Group in a research note issued on Thursday,Benzinga reports. They presently have a $10.00 price objective on the stock. Canaccord Genuity Group's price objective suggests a potential upside of 15.34% from the stock's previous close.

A number of other research analysts have also issued reports on the stock. Needham & Company LLC restated a "hold" rating on shares of Peloton Interactive in a report on Thursday, August 7th. Truist Financial set a $11.00 price objective on shares of Peloton Interactive in a report on Thursday, August 7th. Telsey Advisory Group increased their price objective on shares of Peloton Interactive from $8.00 to $9.00 and gave the stock a "market perform" rating in a report on Thursday. Morgan Stanley increased their price objective on shares of Peloton Interactive from $4.00 to $5.75 and gave the stock an "equal weight" rating in a report on Monday, August 4th. Finally, Macquarie increased their price objective on shares of Peloton Interactive from $10.00 to $11.00 and gave the stock an "outperform" rating in a report on Thursday, August 14th. Eight equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $9.36.

Peloton Interactive Trading Down 3.7%

NASDAQ:PTON opened at $8.67 on Thursday. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of -27.97, a price-to-earnings-growth ratio of 3.46 and a beta of 2.27. The company's 50-day moving average is $7.77 and its two-hundred day moving average is $6.94. Peloton Interactive has a 12-month low of $4.25 and a 12-month high of $10.90.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.12. The firm had revenue of $606.90 million during the quarter, compared to analysts' expectations of $580.29 million. Peloton Interactive's revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.08) earnings per share. Peloton Interactive has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Peloton Interactive will post -0.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Peloton Interactive

In related news, CFO Elizabeth F. Coddington sold 238,664 shares of the firm's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $7.85, for a total value of $1,873,512.40. Following the transaction, the chief financial officer owned 346,535 shares in the company, valued at approximately $2,720,299.75. This trade represents a 40.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jennifer Cunningham Cotter sold 146,315 shares of Peloton Interactive stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $8.37, for a total transaction of $1,224,656.55. Following the sale, the insider owned 234,745 shares in the company, valued at $1,964,815.65. This represents a 38.40% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,842,992 shares of company stock worth $14,694,447. 1.34% of the stock is currently owned by corporate insiders.

Institutional Trading of Peloton Interactive

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Peloton Interactive by 6.2% during the first quarter. Vanguard Group Inc. now owns 37,246,652 shares of the company's stock valued at $235,399,000 after purchasing an additional 2,186,862 shares during the period. T. Rowe Price Investment Management Inc. grew its position in shares of Peloton Interactive by 29.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 21,760,678 shares of the company's stock worth $137,528,000 after buying an additional 4,940,422 shares in the last quarter. Eminence Capital LP acquired a new stake in shares of Peloton Interactive during the second quarter worth approximately $112,681,000. Geode Capital Management LLC grew its position in shares of Peloton Interactive by 5.7% during the second quarter. Geode Capital Management LLC now owns 9,141,542 shares of the company's stock worth $63,450,000 after buying an additional 490,353 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Peloton Interactive by 27.1% during the first quarter. Goldman Sachs Group Inc. now owns 7,056,642 shares of the company's stock worth $44,598,000 after buying an additional 1,503,680 shares in the last quarter. Hedge funds and other institutional investors own 77.01% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.