Peloton Interactive (NASDAQ:PTON) Stock Price Expected to Rise, Sanford C. Bernstein Analyst Says

Peloton Interactive (NASDAQ:PTON) had its target price boosted by Sanford C. Bernstein from $4.25 to $6.50 in a research note published on Friday morning, Benzinga reports. They currently have a market perform rating on the stock.

A number of other analysts also recently issued reports on the company. BMO Capital Markets reaffirmed a “market perform” rating and issued a $6.50 price objective on shares of Peloton Interactive in a research note on Tuesday, October 1st. Telsey Advisory Group lifted their price objective on Peloton Interactive from $5.00 to $9.00 and gave the stock a “market perform” rating in a research note on Friday. Wolfe Research assumed coverage on Peloton Interactive in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Roth Mkm boosted their target price on Peloton Interactive from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, Macquarie boosted their target price on Peloton Interactive from $4.90 to $9.00 and gave the company a “neutral” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Peloton Interactive currently has a consensus rating of “Hold” and a consensus target price of $5.98.

Peloton Interactive Stock Down 14.7 %

PTON traded down $1.25 on Friday, hitting $7.25. 44,046,727 shares of the company’s stock traded hands, compared to its average volume of 20,077,132. The company’s 50 day simple moving average is $5.11 and its 200-day simple moving average is $4.06. Peloton Interactive has a one year low of $2.70 and a one year high of $8.92.

Peloton Interactive (NASDAQ:PTON) last issued its earnings results on Thursday, October 31st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $586.00 million during the quarter, compared to the consensus estimate of $572.97 million. During the same quarter in the previous year, the business earned ($0.44) earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. Research analysts expect that Peloton Interactive will post -0.65 earnings per share for the current fiscal year.

Insider Transactions at Peloton Interactive

In other news, CEO Chris Bruzzo sold 24,977 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $5.80, for a total value of $144,866.60. Following the completion of the transaction, the chief executive officer now directly owns 149,240 shares of the company’s stock, valued at approximately $865,592. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Chris Bruzzo sold 24,977 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $5.80, for a total transaction of $144,866.60. Following the transaction, the chief executive officer now directly owns 149,240 shares of the company’s stock, valued at $865,592. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Nick V. Caldwell bought 31,337 shares of Peloton Interactive stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average cost of $4.25 per share, for a total transaction of $133,182.25. Following the completion of the transaction, the insider now directly owns 31,337 shares in the company, valued at $133,182.25. The disclosure for this purchase can be found here. In the last three months, insiders sold 167,880 shares of company stock valued at $815,767. Corporate insiders own 1.34% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PTON. Mercer Global Advisors Inc. ADV acquired a new position in shares of Peloton Interactive in the second quarter valued at about $27,000. Skylands Capital LLC purchased a new stake in shares of Peloton Interactive in the second quarter worth about $30,000. Nisa Investment Advisors LLC boosted its stake in shares of Peloton Interactive by 1,836.7% in the second quarter. Nisa Investment Advisors LLC now owns 9,490 shares of the company’s stock worth $32,000 after buying an additional 9,000 shares during the last quarter. Schneider Downs Wealth Management Advisors LP purchased a new stake in shares of Peloton Interactive in the second quarter worth about $35,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of Peloton Interactive in the second quarter worth about $35,000. 77.01% of the stock is owned by institutional investors and hedge funds.

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.