Peloton Interactive (NASDAQ:PTON) Price Target Lowered to $2.53 at Macquarie

Peloton Interactive (NASDAQ:PTON) had its price target cut by equities researchers at Macquarie from $4.50 to $2.53 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Macquarie’s price target indicates a potential downside of 26.13% from the company’s previous close.

Several other brokerages have also recently commented on PTON. Needham & Company LLC restated a “hold” rating on shares of Peloton Interactive in a report on Friday. Telsey Advisory Group reissued a “market perform” rating and set a $4.00 price objective (down previously from $5.00) on shares of Peloton Interactive in a report on Monday. Truist Financial lowered their price objective on shares of Peloton Interactive from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Friday, February 2nd. Bank of America reduced their target price on shares of Peloton Interactive from $4.00 to $3.25 and set an “underperform” rating on the stock in a research report on Monday. Finally, The Goldman Sachs Group lowered their price target on shares of Peloton Interactive from $6.50 to $5.75 and set a “neutral” rating for the company in a report on Friday, February 2nd. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $6.15.

Peloton Interactive Price Performance

Shares of PTON traded up $0.29 during trading hours on Friday, hitting $3.43. The stock had a trading volume of 34,761,060 shares, compared to its average volume of 14,940,079. Peloton Interactive has a 52 week low of $2.70 and a 52 week high of $9.87. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -1.40 and a beta of 2.01. The company’s fifty day moving average is $3.94 and its two-hundred day moving average is $4.88.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.06). The firm had revenue of $717.70 million for the quarter, compared to the consensus estimate of $720.85 million. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period last year, the firm posted ($0.79) earnings per share. Equities analysts predict that Peloton Interactive will post -1.61 EPS for the current fiscal year.

Insider Activity

In related news, CFO Elizabeth F. Coddington sold 8,977 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $4.34, for a total transaction of $38,960.18. Following the sale, the chief financial officer now owns 104,428 shares of the company’s stock, valued at approximately $453,217.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.28% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. First Trust Direct Indexing L.P. acquired a new stake in shares of Peloton Interactive in the 1st quarter valued at about $94,000. Lee Johnson Capital Management LLC bought a new stake in Peloton Interactive in the 1st quarter valued at approximately $2,837,000. Abundance Wealth Counselors acquired a new position in Peloton Interactive during the 1st quarter worth approximately $46,000. State of Michigan Retirement System boosted its position in Peloton Interactive by 412.1% during the 1st quarter. State of Michigan Retirement System now owns 596,477 shares of the company’s stock worth $2,556,000 after acquiring an additional 480,000 shares during the last quarter. Finally, Johnson & White Wealth Management LLC bought a new position in shares of Peloton Interactive during the 1st quarter worth approximately $43,000. 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.