Telsey Advisory Group Comments on Peloton Interactive, Inc.’s Q3 2024 Earnings (NASDAQ:PTON)

Peloton Interactive, Inc. (NASDAQ:PTON) – Analysts at Telsey Advisory Group reduced their Q3 2024 earnings per share estimates for Peloton Interactive in a research report issued to clients and investors on Monday, April 29th. Telsey Advisory Group analyst D. Telsey now forecasts that the company will post earnings of ($0.47) per share for the quarter, down from their prior estimate of ($0.38). Telsey Advisory Group currently has a “Market Perform” rating and a $4.00 target price on the stock. The consensus estimate for Peloton Interactive’s current full-year earnings is ($1.60) per share. Telsey Advisory Group also issued estimates for Peloton Interactive’s Q4 2024 earnings at ($0.29) EPS, FY2024 earnings at ($1.73) EPS and FY2025 earnings at ($1.56) EPS.

A number of other analysts have also recently weighed in on the company. JPMorgan Chase & Co. lowered their price target on Peloton Interactive from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Friday, February 2nd. Truist Financial lowered their price target on Peloton Interactive from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Friday, February 2nd. Morgan Stanley initiated coverage on Peloton Interactive in a report on Monday, March 11th. They set an “equal weight” rating and a $3.00 target price on the stock. Bank of America decreased their target price on Peloton Interactive from $4.00 to $3.25 and set an “underperform” rating on the stock in a report on Monday. Finally, The Goldman Sachs Group decreased their target price on Peloton Interactive from $6.50 to $5.75 and set a “neutral” rating on the stock in a report on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $7.40.

Peloton Interactive Stock Performance

PTON opened at $3.22 on Thursday. The stock’s 50 day simple moving average is $3.97 and its 200-day simple moving average is $4.89. Peloton Interactive has a 1 year low of $2.91 and a 1 year high of $9.87.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings data on Thursday, February 1st. The company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.01. The firm had revenue of $743.60 million for the quarter, compared to the consensus estimate of $733.17 million. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.98) earnings per share.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PTON. Commonwealth Equity Services LLC grew its holdings in shares of Peloton Interactive by 162.0% during the third quarter. Commonwealth Equity Services LLC now owns 129,454 shares of the company’s stock worth $654,000 after buying an additional 80,047 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Peloton Interactive by 149.3% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 55,612 shares of the company’s stock worth $281,000 after buying an additional 33,307 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Peloton Interactive by 73.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 30,062 shares of the company’s stock valued at $152,000 after purchasing an additional 12,697 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Peloton Interactive by 18.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,050 shares of the company’s stock valued at $258,000 after purchasing an additional 7,875 shares in the last quarter. Finally, Calamos Wealth Management LLC grew its stake in Peloton Interactive by 1.2% in the third quarter. Calamos Wealth Management LLC now owns 824,714 shares of the company’s stock valued at $4,165,000 after purchasing an additional 10,100 shares in the last quarter. 77.01% of the stock is currently owned by institutional investors.

Insider Transactions at Peloton Interactive

In other news, CFO Elizabeth F. Coddington sold 8,977 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $4.34, for a total transaction of $38,960.18. Following the sale, the chief financial officer now owns 104,428 shares of the company’s stock, valued at $453,217.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.28% of the stock is currently owned by insiders.

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.