Peloton (NASDAQ:PTON) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, Zacks.com reports. The firm currently has a $86.00 target price on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 2.78% from the stock’s previous close.
According to Zacks, “Peloton Interactive creates fitness products. The brand’s content is accessible through the Peloton Bike, the Peloton Tread, and Peloton Digital, which provides a full slate of fitness offerings, anytime, anywhere, through IOS and Android as well as most tablets and computers. “
PTON has been the subject of a number of other reports. Goldman Sachs Group boosted their target price on shares of Peloton from $84.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Cowen restated a “buy” rating and set a $70.00 price target on shares of Peloton in a report on Thursday, August 13th. Robert W. Baird reiterated a “buy” rating and issued a $52.00 price objective on shares of Peloton in a research note on Friday, June 19th. JPMorgan Chase & Co. upped their price objective on shares of Peloton from $58.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, BofA Securities upped their price objective on shares of Peloton from $54.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $62.37.
PTON opened at $83.67 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.32 and a quick ratio of 2.96. Peloton has a 1-year low of $17.70 and a 1-year high of $84.63. The company has a 50-day moving average of $66.60 and a 200-day moving average of $45.09.
In related news, CFO Jill Woodworth sold 40,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $50.07, for a total transaction of $2,002,800.00. Following the completion of the sale, the chief financial officer now owns 40,000 shares in the company, valued at approximately $2,002,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 135,000 shares of company stock valued at $7,478,798 in the last quarter.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. increased its position in Peloton by 27.1% in the 1st quarter. Baillie Gifford & Co. now owns 17,465,459 shares of the company’s stock valued at $463,708,000 after acquiring an additional 3,724,613 shares in the last quarter. FMR LLC increased its position in Peloton by 402.5% in the 2nd quarter. FMR LLC now owns 16,283,996 shares of the company’s stock valued at $940,726,000 after acquiring an additional 13,043,301 shares in the last quarter. Vanguard Group Inc. increased its position in Peloton by 317.6% in the 2nd quarter. Vanguard Group Inc. now owns 14,707,540 shares of the company’s stock valued at $849,654,000 after acquiring an additional 11,185,667 shares in the last quarter. Wellington Management Group LLP increased its position in Peloton by 85.3% in the 1st quarter. Wellington Management Group LLP now owns 9,355,723 shares of the company’s stock valued at $248,395,000 after acquiring an additional 4,306,563 shares in the last quarter. Finally, Capital Research Global Investors increased its position in Peloton by 478.1% in the 1st quarter. Capital Research Global Investors now owns 8,060,627 shares of the company’s stock valued at $214,010,000 after acquiring an additional 6,666,218 shares in the last quarter. Hedge funds and other institutional investors own 59.54% of the company’s stock.
Peloton Interactive, Inc provides interactive fitness products in North America. It offers connected fitness products, such as the Peloton Bike and the Peloton Tread, which include touchscreen that streams live and on-demand classes. The company also provides connected fitness subscriptions for multiple household users, and access to all live and on-demand classes, as well as Peloton Digital app for connected fitness subscribers to provide access to its classes.
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