Telsey Advisory Group Cuts Peloton Interactive (NASDAQ:PTON) Price Target to $9.00

Peloton Interactive (NASDAQ:PTON - Free Report) had its price objective trimmed by Telsey Advisory Group from $11.00 to $9.00 in a research report released on Monday morning, Marketbeat reports. The brokerage currently has a market perform rating on the stock.

A number of other equities analysts have also issued reports on the company. Macquarie restated a "neutral" rating and issued a $9.00 target price on shares of Peloton Interactive in a research note on Monday, February 10th. Canaccord Genuity Group upgraded Peloton Interactive from a "hold" rating to a "buy" rating and set a $10.00 price target for the company in a research note on Friday, March 14th. JMP Securities reaffirmed a "market perform" rating on shares of Peloton Interactive in a report on Monday, April 14th. Truist Financial upgraded Peloton Interactive from a "hold" rating to a "buy" rating and set a $11.00 price objective on the stock in a report on Monday, April 28th. Finally, Bank of America lowered their price objective on Peloton Interactive from $11.50 to $9.50 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Fourteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $8.30.

Peloton Interactive Price Performance

Shares of Peloton Interactive stock traded down $0.35 during trading on Monday, hitting $6.16. The stock had a trading volume of 22,595,787 shares, compared to its average volume of 15,597,905. The stock has a market cap of $2.40 billion, a PE ratio of -8.00 and a beta of 2.25. Peloton Interactive has a 12 month low of $2.83 and a 12 month high of $10.90. The firm's fifty day simple moving average is $6.20 and its 200-day simple moving average is $7.79.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last released 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 business had revenue of $624.00 million during the quarter, compared to the consensus estimate of $620.39 million. During the same quarter in the prior year, the firm earned ($0.45) EPS. The firm's revenue for the quarter was down 13.1% compared to the same quarter last year. Analysts expect 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, CAO Saqib Baig sold 22,662 shares of the business's stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 130,031 shares in the company, valued at $1,267,802.25. The trade was a 14.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Elizabeth F. Coddington sold 170,819 shares of Peloton Interactive stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $9.62, for a total transaction of $1,643,278.78. Following the completion of the transaction, the chief financial officer now owns 275,212 shares in the company, valued at approximately $2,647,539.44. This trade represents a 38.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 674,338 shares of company stock valued at $5,522,838 in the last quarter. Corporate insiders own 1.34% of the company's stock.

Institutional Trading of Peloton Interactive

Several institutional investors and hedge funds have recently bought and sold shares of PTON. Vanguard Group Inc. raised its holdings 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 acquiring an additional 2,186,862 shares during the period. Bank of Nova Scotia raised its position in Peloton Interactive by 22.0% during the first quarter. Bank of Nova Scotia now owns 18,620 shares of the company's stock valued at $118,000 after buying an additional 3,354 shares during the period. R Squared Ltd lifted its stake in Peloton Interactive by 385.8% in the 1st quarter. R Squared Ltd now owns 15,740 shares of the company's stock worth $99,000 after acquiring an additional 12,500 shares in the last quarter. Banco Santander S.A. purchased a new stake in Peloton Interactive in the 1st quarter worth about $268,000. Finally, Forge First Asset Management Inc. purchased a new position in Peloton Interactive during the 1st quarter valued at about $944,000. Institutional investors and hedge funds 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.