Peloton Interactive (NASDAQ:PTON) Shares Up 7.2% on Analyst Upgrade

Peloton Interactive, Inc. (NASDAQ:PTON) shares were up 7.2% during mid-day trading on Monday after The Goldman Sachs Group raised their price target on the stock from $8.00 to $10.00. The Goldman Sachs Group currently has a neutral rating on the stock. Peloton Interactive traded as high as $8.93 and last traded at $8.98. Approximately 6,117,363 shares traded hands during trading, a decline of 54% from the average daily volume of 13,359,142 shares. The stock had previously closed at $8.37.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. increased their price objective on shares of Peloton Interactive from $5.00 to $7.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Truist Financial raised their price target on shares of Peloton Interactive from $6.00 to $10.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Bank of America upgraded Peloton Interactive from an “underperform” rating to a “buy” rating and lifted their price target for the company from $3.75 to $9.00 in a research report on Monday, November 4th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $11.00 target price on shares of Peloton Interactive in a research report on Monday, February 3rd. Finally, Sanford C. Bernstein boosted their price objective on shares of Peloton Interactive from $4.25 to $6.50 and gave the company a “market perform” rating in a research report on Friday, November 1st. Sixteen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Peloton Interactive currently has a consensus rating of “Hold” and an average price target of $7.93.

Insiders Place Their Bets

In other news, 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 value of $148,945.17. Following the completion of the sale, the director now owns 244,641 shares of the company’s stock, valued at approximately $2,111,251.83. The trade was a 6.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Saqib Baig sold 36,776 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $7.53, for a total transaction of $276,923.28. Following the sale, the chief accounting officer now owns 137,357 shares in the company, valued at $1,034,298.21. The trade was a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 395,813 shares of company stock valued at $3,041,724 in the last 90 days. 1.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Peloton Interactive

Institutional investors and hedge funds have recently modified their holdings of the business. Counterpoint Mutual Funds LLC lifted its stake in Peloton Interactive by 2.5% during the 4th quarter. Counterpoint Mutual Funds LLC now owns 79,459 shares of the company’s stock valued at $691,000 after acquiring an additional 1,951 shares in the last quarter. Cibc World Markets Corp purchased a new position in Peloton Interactive in the fourth quarter worth $287,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Peloton Interactive by 245.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,227,854 shares of the company’s stock worth $36,782,000 after acquiring an additional 3,004,757 shares during the last quarter. Great Lakes Advisors LLC purchased a new position in shares of Peloton Interactive in the fourth quarter valued at about $4,099,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in Peloton Interactive in the fourth quarter worth $107,000. 77.01% of the stock is currently owned by institutional investors.

Peloton Interactive Stock Performance

The firm has a 50-day moving average price of $8.92 and a 200-day moving average price of $6.68. The stock has a market cap of $3.27 billion, a P/E ratio of -11.13 and a beta of 1.95.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings data 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). On average, research analysts predict that Peloton Interactive, Inc. will post -0.39 earnings per share for the current year.

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.