Peloton Interactive (NASDAQ:PTON) Shares Gap Up Following Analyst Upgrade

Peloton Interactive, Inc. (NASDAQ:PTON) shares gapped up prior to trading on Monday after BMO Capital Markets raised their price target on the stock from $6.50 to $8.50. The stock had previously closed at $7.25, but opened at $7.84. BMO Capital Markets currently has a market perform rating on the stock. Peloton Interactive shares last traded at $7.55, with a volume of 7,185,089 shares trading hands.

PTON has been the subject of several other research reports. JMP Securities reissued a “market perform” rating on shares of Peloton Interactive in a research note on Thursday, October 3rd. Bank of America raised Peloton Interactive from an “underperform” rating to a “buy” rating and boosted their price target for the company from $3.75 to $9.00 in a research report on Monday. Wolfe Research assumed coverage on shares of Peloton Interactive in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Telsey Advisory Group increased their price objective on shares of Peloton Interactive from $5.00 to $9.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Finally, Truist Financial lifted their target price on shares of Peloton Interactive from $6.00 to $10.00 and gave the company a “hold” rating in a report on Friday, November 1st. Sixteen investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.57.

Insider Activity

In other Peloton Interactive news, CEO Karen Boone sold 13,484 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $8.27, for a total value of $111,512.68. Following the sale, the chief executive officer now directly owns 211,459 shares in the company, valued at approximately $1,748,765.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Karen Boone sold 13,484 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $8.27, for a total transaction of $111,512.68. Following the completion of the sale, the chief executive officer now directly owns 211,459 shares of the company’s stock, valued at $1,748,765.93. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Chris Bruzzo sold 13,524 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $8.24, for a total value of $111,437.76. Following the sale, the director now directly owns 167,362 shares in the company, valued at $1,379,062.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 194,888 shares of company stock worth $1,038,717 over the last 90 days. 1.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Peloton Interactive

Hedge funds have recently made changes to their positions in the company. Rakuten Securities Inc. raised its stake in Peloton Interactive by 118.8% during the 3rd quarter. Rakuten Securities Inc. now owns 16,418 shares of the company’s stock valued at $77,000 after purchasing an additional 8,916 shares during the period. GSA Capital Partners LLP acquired a new position in Peloton Interactive during the third quarter valued at $1,164,000. Versor Investments LP purchased a new stake in Peloton Interactive in the 3rd quarter worth about $415,000. Weil Company Inc. acquired a new stake in shares of Peloton Interactive during the third quarter worth approximately $77,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Peloton Interactive during the 3rd quarter valued at $212,000. Hedge funds and other institutional investors own 77.01% of the company’s stock.

Peloton Interactive Stock Up 2.0 %

The business has a 50-day moving average of $5.22 and a 200-day moving average of $4.14. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of -7.16 and a beta of 1.93.

Peloton Interactive (NASDAQ:PTON) last posted its earnings results on Thursday, October 31st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The business had revenue of $586.00 million for the quarter, compared to analysts’ expectations of $572.97 million. During the same period in the previous year, the business earned ($0.44) EPS. The firm’s revenue was down 1.6% on a year-over-year basis. Equities analysts anticipate that Peloton Interactive, Inc. will post -0.65 earnings per share for the current year.

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.