JMP Securities Reiterates Market Perform Rating for Peloton Interactive (NASDAQ:PTON)

JMP Securities restated their market perform rating on shares of Peloton Interactive (NASDAQ:PTON) in a research note released on Tuesday morning, Benzinga reports.

A number of other analysts also recently weighed in on PTON. Morgan Stanley assumed coverage on Peloton Interactive in a report on Monday, March 11th. They issued an equal weight rating and a $3.00 price objective for the company. Citigroup downgraded Peloton Interactive from a buy rating to a neutral rating and decreased their price objective for the company from $8.00 to $4.00 in a report on Monday, May 6th. BMO Capital Markets decreased their price objective on Peloton Interactive from $7.50 to $6.50 and set a market perform rating for the company in a report on Friday, May 3rd. Needham & Company LLC restated a hold rating on shares of Peloton Interactive in a report on Friday, May 3rd. Finally, The Goldman Sachs Group decreased their price target on Peloton Interactive from $5.75 to $3.50 and set a neutral rating for the company in a report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $5.09.

Peloton Interactive Stock Performance

Shares of NASDAQ:PTON opened at $3.39 on Tuesday. The company has a fifty day moving average of $3.58 and a 200-day moving average of $4.40. The company has a market capitalization of $1.26 billion, a PE ratio of -1.55 and a beta of 2.02. Peloton Interactive has a 52-week low of $2.70 and a 52-week high of $9.87.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.45) earnings per share (EPS) 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 business’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.79) EPS. On average, equities analysts forecast that Peloton Interactive will post -1.62 EPS for the current fiscal year.

Insider Activity

In other news, insider Andrew S. Rendich sold 27,741 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $3.91, for a total value of $108,467.31. Following the completion of the sale, the insider now directly owns 113,288 shares in the company, valued at approximately $442,956.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Peloton Interactive news, insider Andrew S. Rendich sold 27,741 shares of Peloton Interactive stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $3.91, for a total transaction of $108,467.31. Following the completion of the transaction, the insider now owns 113,288 shares in the company, valued at approximately $442,956.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Chris Bruzzo sold 14,936 shares of Peloton Interactive stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $3.62, for a total value of $54,068.32. Following the transaction, the chief executive officer now owns 38,680 shares of the company’s stock, valued at approximately $140,021.60. The disclosure for this sale can be found here. Insiders sold a total of 66,441 shares of company stock worth $244,496 in the last three months. Company insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

Several hedge funds have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. lifted its position in shares of Peloton Interactive by 6.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 31,983 shares of the company’s stock worth $195,000 after buying an additional 1,921 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of Peloton Interactive by 11.5% in the 4th quarter. Private Advisor Group LLC now owns 37,373 shares of the company’s stock worth $228,000 after purchasing an additional 3,855 shares during the period. Treasurer of the State of North Carolina raised its holdings in shares of Peloton Interactive by 3.3% in the 3rd quarter. Treasurer of the State of North Carolina now owns 139,104 shares of the company’s stock worth $702,000 after purchasing an additional 4,410 shares during the period. Counterpoint Mutual Funds LLC raised its holdings in shares of Peloton Interactive by 17.6% in the 4th quarter. Counterpoint Mutual Funds LLC now owns 32,899 shares of the company’s stock worth $200,000 after purchasing an additional 4,931 shares during the period. Finally, Compagnie Lombard Odier SCmA raised its holdings in shares of Peloton Interactive by 33.3% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 20,000 shares of the company’s stock worth $122,000 after purchasing an additional 5,000 shares during the period. Institutional investors own 77.01% of the company’s stock.

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.