Peloton Interactive (NASDAQ:PTON) Price Target Cut to $15.00

Peloton Interactive (NASDAQ:PTONGet Rating) had its price target reduced by Truist Financial from $45.00 to $15.00 in a research note issued to investors on Wednesday, The Fly reports.

Several other analysts have also recently weighed in on the stock. Needham & Company LLC cut their price target on shares of Peloton Interactive from $50.00 to $25.00 in a report on Wednesday. BMO Capital Markets dropped their target price on shares of Peloton Interactive from $24.00 to $12.00 in a report on Wednesday. Stifel Nicolaus cut shares of Peloton Interactive from a buy rating to a hold rating and dropped their price target for the stock from $45.00 to $14.00 in a research note on Wednesday. Morgan Stanley dropped their price target on shares of Peloton Interactive from $32.00 to $19.00 and set an equal weight rating on the stock in a research note on Wednesday. Finally, Robert W. Baird decreased their target price on Peloton Interactive from $46.00 to $25.00 in a research report on Wednesday. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $45.81.

NASDAQ:PTON opened at $15.87 on Wednesday. The firm’s fifty day simple moving average is $22.47 and its 200 day simple moving average is $34.08. Peloton Interactive has a twelve month low of $11.25 and a twelve month high of $129.70. The company has a current ratio of 2.49, a quick ratio of 1.29 and a debt-to-equity ratio of 0.49.

Peloton Interactive (NASDAQ:PTONGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($2.27) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($1.44). The company had revenue of $964.30 million during the quarter, compared to the consensus estimate of $969.81 million. Peloton Interactive had a negative net margin of 49.10% and a negative return on equity of 78.79%. The business’s revenue was down 23.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.03) EPS. On average, analysts expect that Peloton Interactive will post -4.43 EPS for the current year.

In related news, Director William Lynch sold 6,250 shares of the stock in a transaction on Thursday, February 17th. The stock was sold at an average price of $32.49, for a total transaction of $203,062.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Mariana Garavaglia sold 2,459 shares of the stock in a transaction on Thursday, February 17th. The shares were sold at an average price of $31.99, for a total value of $78,663.41. The disclosure for this sale can be found here. Insiders have sold a total of 10,768 shares of company stock valued at $347,387 over the last quarter. Corporate insiders own 13.18% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in PTON. Northern Trust Corp increased its stake in Peloton Interactive by 8.8% in the first quarter. Northern Trust Corp now owns 1,913,818 shares of the company’s stock worth $50,564,000 after purchasing an additional 154,583 shares during the period. GM Advisory Group Inc. purchased a new stake in Peloton Interactive in the first quarter worth $602,000. Charles Schwab Investment Management Inc. increased its stake in Peloton Interactive by 3.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 937,344 shares of the company’s stock worth $24,765,000 after purchasing an additional 35,094 shares during the period. Utah Retirement Systems lifted its stake in shares of Peloton Interactive by 5.6% in the 1st quarter. Utah Retirement Systems now owns 30,200 shares of the company’s stock valued at $798,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Mariner LLC lifted its stake in shares of Peloton Interactive by 84.6% in the 1st quarter. Mariner LLC now owns 19,585 shares of the company’s stock valued at $518,000 after purchasing an additional 8,973 shares during the last quarter. Institutional investors own 82.42% of the company’s stock.

Peloton Interactive Company Profile (Get Rating)

Peloton Interactive, Inc provides interactive fitness products in North America and internationally. It offers connected fitness products with touchscreen that streams live and on-demand classes under the Peloton Bike, Peloton Bike+, Peloton Tread, and Peloton Tread+ names. The company also provides connected fitness subscriptions for various household users, and access to various 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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