Peloton Interactive (NASDAQ:PTON) Upgraded at Bank of America

Bank of America upgraded shares of Peloton Interactive (NASDAQ:PTON) from an underperform rating to a buy rating in a research note published on Monday, MarketBeat.com reports. They currently have $9.00 price target on the stock, up from their prior price target of $3.75.

PTON has been the topic of a number of other research reports. Morgan Stanley boosted their price objective on shares of Peloton Interactive from $3.50 to $5.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Truist Financial boosted 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. Roth Mkm raised their price objective on Peloton Interactive from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Telsey Advisory Group raised their price target on Peloton Interactive from $5.00 to $9.00 and gave the company a “market perform” rating in a report on Friday, November 1st. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Peloton Interactive in a report on Thursday, October 3rd. Fifteen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $6.75.

Peloton Interactive Stock Up 1.1 %

Shares of PTON stock opened at $8.02 on Monday. The business has a 50-day moving average price of $5.29 and a two-hundred day moving average price of $4.16. Peloton Interactive has a 12-month low of $2.70 and a 12-month high of $8.92. The firm has a market cap of $3.02 billion, a P/E ratio of -7.54 and a beta of 1.93.

Peloton Interactive (NASDAQ:PTON) last released its earnings results on Thursday, October 31st. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $586.00 million for the quarter, compared to the consensus estimate of $572.97 million. The business’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.44) earnings per share. As a group, research analysts expect that Peloton Interactive will post -0.43 EPS for the current fiscal year.

Insider Activity at Peloton Interactive

In related news, CFO Elizabeth F. Coddington sold 56,084 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $4.50, for a total value of $252,378.00. Following the transaction, the chief financial officer now owns 186,466 shares of the company’s stock, valued at approximately $839,097. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Elizabeth F. Coddington sold 56,084 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $4.50, for a total value of $252,378.00. Following the transaction, the chief financial officer now directly owns 186,466 shares of the company’s stock, valued at approximately $839,097. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 of the company’s stock, valued at $1,748,765.93. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 194,888 shares of company stock worth $1,038,717. 1.34% of the stock is owned by insiders.

Hedge Funds Weigh In On Peloton Interactive

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Peloton Interactive by 4.0% in the first quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company’s stock worth $135,212,000 after acquiring an additional 1,215,397 shares during the period. DNB Asset Management AS grew its holdings in Peloton Interactive by 42.4% during the 2nd quarter. DNB Asset Management AS now owns 12,130,553 shares of the company’s stock valued at $40,880,000 after buying an additional 3,611,069 shares in the last quarter. DME Capital Management LP bought a new stake in shares of Peloton Interactive during the second quarter valued at approximately $22,947,000. Clearline Capital LP purchased a new position in shares of Peloton Interactive in the second quarter worth $7,527,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Peloton Interactive during the first quarter worth $5,877,000. Hedge funds and other institutional investors own 77.01% of the company’s stock.

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.