Peloton Interactive (NASDAQ:PTON) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Peloton Interactive (NASDAQ:PTON) in a report issued on Friday morning, Benzinga reports.

PTON has been the subject of a number of other research reports. Truist Financial reduced their price objective on Peloton Interactive from $7.00 to $6.00 and set a hold rating for the company in a research note on Friday, February 2nd. Morgan Stanley started coverage on shares of Peloton Interactive in a research report on Monday, March 11th. They issued an equal weight rating and a $3.00 price target for the company. The Goldman Sachs Group lowered their price objective on shares of Peloton Interactive from $6.50 to $5.75 and set a neutral rating on the stock in a report on Friday, February 2nd. Sanford C. Bernstein cut shares of Peloton Interactive from an outperform rating to a market perform rating and reduced their price objective for the company from $8.00 to $3.80 in a report on Friday. Finally, Bank of America lowered their target price on shares of Peloton Interactive from $4.00 to $3.25 and set an underperform rating on the stock in a report on Monday, April 29th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Peloton Interactive currently has an average rating of Hold and a consensus target price of $6.15.

Peloton Interactive Price Performance

Shares of Peloton Interactive stock traded up $0.29 during midday trading on Friday, reaching $3.43. The company had a trading volume of 34,797,791 shares, compared to its average volume of 14,415,963. The firm has a market cap of $1.26 billion, a PE ratio of -1.62 and a beta of 2.01. The stock has a fifty day moving average price of $3.93 and a 200 day moving average price of $4.87. 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 results on Thursday, May 2nd. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). The business had revenue of $717.70 million for the quarter, compared to analyst estimates of $720.85 million. During the same period last year, the firm earned ($0.79) EPS. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, sell-side analysts forecast that Peloton Interactive will post -1.61 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Elizabeth F. Coddington sold 8,977 shares of Peloton Interactive stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $4.34, for a total value of $38,960.18. Following the sale, the chief financial officer now owns 104,428 shares of the company’s stock, valued at approximately $453,217.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.28% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

Several institutional investors have recently added to or reduced their stakes in PTON. Johnson & White Wealth Management LLC bought a new stake in shares of Peloton Interactive in the first quarter valued at approximately $43,000. Abundance Wealth Counselors purchased a new position in Peloton Interactive in the 1st quarter valued at approximately $46,000. Rakuten Securities Inc. bought a new stake in Peloton Interactive during the 4th quarter valued at $47,000. Carl P. Sherr & Co. LLC purchased a new stake in shares of Peloton Interactive during the third quarter worth $55,000. Finally, Clear Harbor Asset Management LLC purchased a new stake in shares of Peloton Interactive during the fourth quarter worth $78,000. 77.01% of the stock is owned by hedge funds and other 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.