Canaccord Genuity Group Upgrades Peloton Interactive (NASDAQ:PTON) to Buy

Canaccord Genuity Group upgraded shares of Peloton Interactive (NASDAQ:PTON) from a hold rating to a buy rating in a report published on Friday, MarketBeat reports. Canaccord Genuity Group currently has $10.00 price target on the stock.

Several other brokerages have also weighed in on PTON. Needham & Company LLC restated a “hold” rating on shares of Peloton Interactive in a research note on Thursday, February 6th. The Goldman Sachs Group boosted their price objective on Peloton Interactive from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Macquarie reaffirmed a “neutral” rating and set a $9.00 target price on shares of Peloton Interactive in a research note on Monday, February 10th. JMP Securities reissued a “market perform” rating on shares of Peloton Interactive in a research note on Friday, February 7th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $11.00 price objective on shares of Peloton Interactive in a research report on Monday, February 3rd. Fifteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $8.69.

Peloton Interactive Price Performance

Shares of NASDAQ PTON opened at $7.05 on Friday. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of -9.16 and a beta of 1.95. The firm’s 50 day simple moving average is $8.12 and its 200-day simple moving average is $7.41. Peloton Interactive has a 12 month low of $2.70 and a 12 month high of $10.90.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). Analysts anticipate that Peloton Interactive will post -0.36 earnings per share for the current fiscal year.

Insider Activity at Peloton Interactive

In related news, CAO Saqib Baig sold 22,662 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.75, for a total transaction of $220,954.50. Following the completion of the sale, the chief accounting officer now directly owns 130,031 shares in the company, valued at approximately $1,267,802.25. This trade represents a 14.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Karen Boone sold 17,259 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $8.63, for a total transaction of $148,945.17. Following the completion of the transaction, the director now owns 244,641 shares in the company, valued at $2,111,251.83. The trade was a 6.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 584,719 shares of company stock valued at $4,958,301. 1.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Peloton Interactive

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PTON. R Squared Ltd acquired a new position in shares of Peloton Interactive in the 4th quarter valued at $28,000. Russell Investments Group Ltd. lifted its position in Peloton Interactive by 969.6% in the fourth quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company’s stock valued at $35,000 after buying an additional 3,636 shares during the last quarter. Comerica Bank boosted its stake in Peloton Interactive by 29.1% during the fourth quarter. Comerica Bank now owns 6,164 shares of the company’s stock worth $54,000 after buying an additional 1,389 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Peloton Interactive by 31.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company’s stock valued at $31,000 after acquiring an additional 1,597 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Peloton Interactive in the 4th quarter valued at approximately $69,000. 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.