Peloton Interactive (NASDAQ:PTON) Price Target Cut to $2.53 by Analysts at Macquarie

Peloton Interactive (NASDAQ:PTON) had its target price decreased by Macquarie from $4.50 to $2.53 in a report published on Friday morning, Benzinga reports. Macquarie currently has a neutral rating on the stock.

Several other analysts have also recently weighed in on the stock. Telsey Advisory Group reaffirmed a market perform rating and set a $4.00 price objective (down from $5.00) on shares of Peloton Interactive in a research note on Monday, April 29th. Bank of America reduced their target price on shares of Peloton Interactive from $4.00 to $3.25 and set an underperform rating on the stock in a research report on Monday, April 29th. Roth Mkm reduced their price objective on Peloton Interactive from $7.00 to $5.00 and set a buy rating on the stock in a report on Friday. Robert W. Baird lowered their price objective on Peloton Interactive from $5.00 to $3.50 and set a neutral rating for the company in a research report on Friday. Finally, Truist Financial cut their target price on shares of Peloton Interactive from $7.00 to $6.00 and set a hold rating on the stock in a research report on Friday, February 2nd. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $6.15.

Peloton Interactive Price Performance

Shares of PTON traded up $0.29 during mid-day 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 company has a market capitalization of $1.26 billion, a P/E ratio of -1.62 and a beta of 2.01. Peloton Interactive has a twelve month low of $2.70 and a twelve month high of $9.87. The company’s 50-day moving average is $3.93 and its 200-day moving average is $4.87.

Peloton Interactive (NASDAQ:PTON) last released 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. During the same period in the prior year, the company earned ($0.79) EPS. Peloton Interactive’s quarterly revenue was down 4.2% on a year-over-year basis. As a group, equities analysts expect that Peloton Interactive will post -1.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Elizabeth F. Coddington sold 8,977 shares of Peloton Interactive 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 transaction, the chief financial officer now owns 104,428 shares in the company, valued at approximately $453,217.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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 the stock. Johnson & White Wealth Management LLC acquired a new stake in shares of Peloton Interactive in the 1st quarter valued at about $43,000. Abundance Wealth Counselors bought a new stake in Peloton Interactive in the 1st quarter valued at approximately $46,000. Rakuten Securities Inc. bought a new stake in Peloton Interactive in the 4th quarter valued at approximately $47,000. Carl P. Sherr & Co. LLC bought a new position in shares of Peloton Interactive during the 3rd quarter worth approximately $55,000. Finally, Clear Harbor Asset Management LLC acquired a new stake in shares of Peloton Interactive in the fourth quarter valued at approximately $78,000. 77.01% of the stock is owned by 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.