BMO Capital Markets Increases Peloton Interactive (NASDAQ:PTON) Price Target to $8.50

Peloton Interactive (NASDAQ:PTON) had its price objective raised by analysts at BMO Capital Markets from $6.50 to $8.50 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective would indicate a potential upside of 10.97% from the company’s current price.

Other analysts have also recently issued research reports about the company. JMP Securities reiterated a “market perform” rating on shares of Peloton Interactive in a research report on Thursday, October 3rd. TD Cowen upped their price target on shares of Peloton Interactive from $3.00 to $4.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Roth Mkm raised their price objective on shares of Peloton Interactive from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Bank of America raised Peloton Interactive from an “underperform” rating to a “buy” rating and raised their price target for the stock from $3.75 to $9.00 in a report on Monday. Finally, Telsey Advisory Group increased their price objective on Peloton Interactive from $5.00 to $9.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Sixteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $6.57.

Peloton Interactive Stock Performance

Shares of PTON stock opened at $7.66 on Monday. Peloton Interactive has a fifty-two week low of $2.70 and a fifty-two week high of $8.92. The stock has a market capitalization of $2.88 billion, a P/E ratio of -7.16 and a beta of 1.93. The company has a 50 day moving average price of $5.22 and a 200 day moving average price of $4.14.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly 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 business had revenue of $586.00 million for the quarter, compared to the consensus estimate of $572.97 million. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.44) EPS. On average, research analysts forecast that Peloton Interactive will post -0.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Saqib Baig sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $4.88, for a total value of $244,000.00. Following the completion of the transaction, the chief accounting officer now owns 87,014 shares of the company’s stock, valued at $424,628.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Saqib Baig sold 50,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $4.88, for a total transaction of $244,000.00. Following the transaction, the chief accounting officer now directly owns 87,014 shares in the company, valued at approximately $424,628.32. This 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 hyperlink. Also, CEO Chris Bruzzo sold 24,977 shares of Peloton Interactive stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $5.80, for a total value of $144,866.60. Following the completion of the sale, the chief executive officer now owns 149,240 shares of the company’s stock, valued at $865,592. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 194,888 shares of company stock valued at $1,038,717 in the last ninety days. Insiders own 1.34% of the company’s stock.

Institutional Trading of Peloton Interactive

Several institutional investors have recently made changes to their positions in PTON. DME Capital Management LP acquired a new position in Peloton Interactive in the second quarter valued at $22,947,000. DNB Asset Management AS lifted its stake in shares of Peloton Interactive by 42.4% in the 2nd quarter. DNB Asset Management AS now owns 12,130,553 shares of the company’s stock valued at $40,880,000 after purchasing an additional 3,611,069 shares in the last quarter. Clearline Capital LP purchased a new stake in shares of Peloton Interactive during the 2nd quarter worth about $7,527,000. Jacobs Levy Equity Management Inc. acquired a new stake in Peloton Interactive during the 1st quarter worth approximately $5,877,000. Finally, Vanguard Group Inc. raised its holdings in Peloton Interactive by 4.0% in the first quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company’s stock valued at $135,212,000 after buying an additional 1,215,397 shares during the period. 77.01% of the stock is owned by hedge funds and other institutional investors.

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.