Peloton Interactive (NASDAQ:PTON) Price Target Lowered to $3.50 at The Goldman Sachs Group

Peloton Interactive (NASDAQ:PTON) had its target price lowered by analysts at The Goldman Sachs Group from $5.75 to $3.50 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 2.19% from the stock’s current price.

Several other research firms have also weighed in on PTON. Robert W. Baird reduced their price objective on shares of Peloton Interactive from $5.00 to $3.50 and set a “neutral” rating on the stock in a research note on Friday. Bank of America lowered their target price on Peloton Interactive from $4.00 to $3.25 and set an “underperform” rating for the company in a report on Monday. JPMorgan Chase & Co. reduced their price objective on Peloton Interactive from $9.00 to $8.00 and set an “overweight” rating for the company in a research report on Friday, February 2nd. Macquarie dropped their target price on Peloton Interactive from $4.50 to $2.53 and set a “neutral” rating on the stock in a research report on Friday. Finally, Roth Mkm reduced their price target on Peloton Interactive from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.15.

Peloton Interactive Trading Up 9.4 %

NASDAQ:PTON traded up $0.29 during mid-day trading on Friday, hitting $3.43. The company’s stock had a trading volume of 34,761,060 shares, compared to its average volume of 14,940,079. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -1.40 and a beta of 2.01. The stock has a fifty day moving average of $3.94 and a 200-day moving average of $4.88. Peloton Interactive has a fifty-two week low of $2.70 and a fifty-two week high of $9.87.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings data 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 business had revenue of $717.70 million during the quarter, compared to analysts’ expectations of $720.85 million. The business’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.79) earnings per share. On average, equities analysts anticipate that Peloton Interactive will post -1.61 earnings per share for the current fiscal year.

Insider Activity at Peloton Interactive

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

Hedge Funds Weigh In On Peloton Interactive

A number of hedge funds have recently bought and sold shares of PTON. Capital World Investors lifted its position in shares of Peloton Interactive by 17.6% during the 4th quarter. Capital World Investors now owns 26,259,325 shares of the company’s stock valued at $159,919,000 after acquiring an additional 3,925,000 shares during the period. Norges Bank acquired a new stake in Peloton Interactive during the fourth quarter worth about $20,824,000. DNB Asset Management AS raised its position in shares of Peloton Interactive by 31.7% in the 4th quarter. DNB Asset Management AS now owns 8,386,903 shares of the company’s stock valued at $51,076,000 after buying an additional 2,020,159 shares in the last quarter. Patient Capital Management LLC lifted its holdings in shares of Peloton Interactive by 32.7% during the 4th quarter. Patient Capital Management LLC now owns 6,196,285 shares of the company’s stock worth $37,735,000 after acquiring an additional 1,527,471 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of Peloton Interactive by 612.1% during the 3rd quarter. AQR Capital Management LLC now owns 1,235,350 shares of the company’s stock worth $6,239,000 after acquiring an additional 1,061,868 shares in the last quarter. 77.01% of the stock is owned by institutional investors.

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.