Peloton Interactive (NASDAQ:PTON) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Peloton Interactive (NASDAQ:PTONGet Free Report) released its quarterly earnings data on Thursday. The company reported ($0.54) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.01, Briefing.com reports. The business had revenue of $743.60 million during the quarter, compared to analyst estimates of $733.17 million. During the same quarter in the prior year, the company posted ($0.98) earnings per share. The company’s revenue was down 6.2% on a year-over-year basis. Peloton Interactive updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

Peloton Interactive Trading Up 0.7 %

PTON opened at $4.24 on Friday. The business’s 50-day simple moving average is $5.89 and its 200-day simple moving average is $6.00. Peloton Interactive has a one year low of $4.10 and a one year high of $17.83.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Canaccord Genuity Group cut Peloton Interactive from a “buy” rating to a “hold” rating and set a $5.00 price target on the stock. in a research note on Thursday, November 2nd. Canaccord Genuity Group restated a “hold” rating on shares of Peloton Interactive in a research report on Thursday, November 2nd. Roth Mkm lowered their price target on Peloton Interactive from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. Telsey Advisory Group lowered their price target on Peloton Interactive from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Friday. Finally, The Goldman Sachs Group lowered their price target on Peloton Interactive from $6.50 to $5.75 and set a “neutral” rating for the company in a research report on Friday. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $7.73.

Read Our Latest Research Report on PTON

Insider Transactions at Peloton Interactive

In related news, Director Karen Boone sold 50,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $4.33, for a total value of $216,500.00. Following the transaction, the director now owns 34,966 shares in the company, valued at approximately $151,402.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.28% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

Institutional investors have recently modified their holdings of the company. Covestor Ltd boosted its stake in shares of Peloton Interactive by 1,054.2% during the 1st quarter. Covestor Ltd now owns 1,385 shares of the company’s stock worth $37,000 after acquiring an additional 1,265 shares in the last quarter. ICA Group Wealth Management LLC acquired a new stake in Peloton Interactive during the 4th quarter valued at $39,000. Glenmede Trust Co. NA acquired a new position in shares of Peloton Interactive in the third quarter worth $58,000. Captrust Financial Advisors boosted its stake in shares of Peloton Interactive by 41.1% during the second quarter. Captrust Financial Advisors now owns 7,693 shares of the company’s stock valued at $71,000 after acquiring an additional 2,239 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in Peloton Interactive during the 3rd quarter worth about $74,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

About Peloton Interactive

(Get Free Report)

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.

See Also

Earnings History for Peloton Interactive (NASDAQ:PTON)

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