Peloton Interactive (NASDAQ:PTON) Receives “Market Perform” Rating from BMO Capital Markets

Peloton Interactive (NASDAQ:PTON)‘s stock had its “market perform” rating reissued by research analysts at BMO Capital Markets in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $6.50 price target on the stock. BMO Capital Markets’ price objective indicates a potential upside of 49.08% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Sanford C. Bernstein boosted their price target on shares of Peloton Interactive from $3.80 to $4.25 and gave the stock a “market perform” rating in a research report on Friday, August 23rd. Roth Mkm boosted their price target on shares of Peloton Interactive from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Wolfe Research assumed coverage on shares of Peloton Interactive in a research report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Morgan Stanley boosted their price target on shares of Peloton Interactive from $2.50 to $3.50 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Peloton Interactive in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $4.60.

Peloton Interactive Stock Down 6.8 %

PTON stock traded down $0.32 during mid-day trading on Tuesday, reaching $4.36. The company had a trading volume of 6,004,003 shares, compared to its average volume of 15,708,502. Peloton Interactive has a one year low of $2.70 and a one year high of $7.24. The stock’s 50-day simple moving average is $4.05 and its two-hundred day simple moving average is $3.80. The stock has a market capitalization of $1.64 billion, a P/E ratio of -2.08 and a beta of 2.04.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings data on Thursday, August 22nd. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.10. The company had revenue of $644.00 million for the quarter, compared to the consensus estimate of $633.00 million. During the same quarter in the prior year, the firm earned ($0.68) earnings per share. Peloton Interactive’s revenue for the quarter was up .3% compared to the same quarter last year. On average, research analysts forecast that Peloton Interactive will post -0.47 EPS for the current fiscal year.

Insider Activity at Peloton Interactive

In related news, CEO Chris Bruzzo sold 15,113 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $3.42, for a total value of $51,686.46. Following the completion of the sale, the chief executive officer now owns 97,433 shares of the company’s stock, valued at approximately $333,220.86. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Chris Bruzzo sold 15,113 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $3.42, for a total value of $51,686.46. Following the completion of the sale, the chief executive officer now directly owns 97,433 shares in the company, valued at approximately $333,220.86. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Nick V. Caldwell bought 31,337 shares of Peloton Interactive stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average price of $4.25 per share, with a total value of $133,182.25. Following the completion of the acquisition, the insider now owns 31,337 shares in the company, valued at approximately $133,182.25. The disclosure for this purchase can be found here. In the last quarter, insiders sold 158,016 shares of company stock valued at $722,587. 3.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Peloton Interactive

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its holdings in shares of Peloton Interactive by 25,397.7% during the first quarter. Russell Investments Group Ltd. now owns 393,685 shares of the company’s stock worth $1,687,000 after buying an additional 392,141 shares during the last quarter. Seven Eight Capital LP acquired a new position in shares of Peloton Interactive during the fourth quarter worth approximately $855,000. Select Equity Group L.P. acquired a new position in shares of Peloton Interactive during the second quarter worth approximately $1,832,000. Vanguard Group Inc. lifted its holdings in shares of Peloton Interactive by 4.0% during the first quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company’s stock worth $135,212,000 after buying an additional 1,215,397 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Peloton Interactive by 1.2% during the first quarter. Swiss National Bank now owns 642,200 shares of the company’s stock worth $2,752,000 after buying an additional 7,600 shares during the last quarter. 77.01% of the stock is currently 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.