Peloton Interactive (NASDAQ:PTON) Price Target Cut to $9.50 by Analysts at Bank of America

Peloton Interactive (NASDAQ:PTON) had its price target cut by Bank of America from $11.50 to $9.50 in a report issued on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued research reports about the stock. The Goldman Sachs Group increased their price objective on shares of Peloton Interactive from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. JPMorgan Chase & Co. dropped their price target on Peloton Interactive from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Argus upgraded Peloton Interactive from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Tuesday, February 11th. Canaccord Genuity Group raised Peloton Interactive from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Friday, March 14th. Finally, JMP Securities restated a “market perform” rating on shares of Peloton Interactive in a research note on Monday. Fifteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $8.59.

Peloton Interactive Trading Up 0.5 %

PTON stock opened at $5.73 on Tuesday. Peloton Interactive has a 1-year low of $2.70 and a 1-year high of $10.90. The firm has a market cap of $2.23 billion, a PE ratio of -7.44 and a beta of 2.21. The business’s 50-day moving average price is $7.04 and its two-hundred day moving average price is $7.65.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings data 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). On average, analysts forecast that Peloton Interactive will post -0.36 earnings per share for the current year.

Insider Transactions at Peloton Interactive

In other news, CAO Saqib Baig sold 22,662 shares of Peloton Interactive stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $9.75, for a total transaction 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. The trade was a 14.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Andrew S. Rendich sold 121,883 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $9.54, for a total value of $1,162,763.82. Following the completion of the sale, the insider now owns 404,188 shares in the company, valued at approximately $3,855,953.52. This trade represents a 23.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 674,338 shares of company stock worth $5,522,838 in the last ninety days. Insiders own 1.34% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTON. Y Intercept Hong Kong Ltd bought a new position in shares of Peloton Interactive in the fourth quarter valued at about $360,000. Rhumbline Advisers raised its holdings in Peloton Interactive by 7.8% in the 4th quarter. Rhumbline Advisers now owns 479,134 shares of the company’s stock valued at $4,168,000 after acquiring an additional 34,514 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Peloton Interactive by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,136,182 shares of the company’s stock valued at $35,985,000 after acquiring an additional 139,826 shares during the period. Franklin Resources Inc. acquired a new stake in Peloton Interactive during the third quarter worth approximately $505,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Peloton Interactive during the fourth quarter worth approximately $1,158,000. 77.01% of the stock is owned by institutional investors.

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.