Peloton Interactive (NASDAQ:PTON) Price Target Cut to $3.50 by Analysts at Robert W. Baird

Peloton Interactive (NASDAQ:PTON) had its target price decreased by Robert W. Baird from $5.00 to $3.50 in a research report report published on Friday, Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

Other research analysts have also recently issued research reports about the company. Sanford C. Bernstein cut Peloton Interactive from an outperform rating to a market perform rating and cut their target price for the company from $8.00 to $3.80 in a research note on Friday. Telsey Advisory Group reaffirmed a market perform rating and issued a $4.00 price target (down previously from $5.00) on shares of Peloton Interactive in a research note on Monday, April 29th. JPMorgan Chase & Co. lowered their target price on Peloton Interactive from $9.00 to $8.00 and set an overweight rating for the company in a report on Friday, February 2nd. The Goldman Sachs Group decreased 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. Finally, Morgan Stanley assumed coverage on shares of Peloton Interactive in a research report on Monday, March 11th. They set an equal weight rating and a $3.00 price target on the stock. 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 data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $6.15.

Peloton Interactive Stock Performance

Shares of NASDAQ:PTON traded up $0.29 on Friday, reaching $3.43. The company’s stock had a trading volume of 34,797,791 shares, compared to its average volume of 14,415,963. Peloton Interactive has a 52-week low of $2.70 and a 52-week high of $9.87. The company has a 50-day simple moving average of $3.93 and a 200 day simple moving average of $4.87. The company has a market cap of $1.26 billion, a P/E ratio of -1.62 and a beta of 2.01.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On Peloton Interactive

Several institutional investors have recently modified their holdings of PTON. Capital World Investors grew its holdings in Peloton Interactive by 17.6% in the fourth quarter. Capital World Investors now owns 26,259,325 shares of the company’s stock valued at $159,919,000 after purchasing an additional 3,925,000 shares during the last quarter. Norges Bank acquired a new position in Peloton Interactive during the fourth quarter worth about $20,824,000. DNB Asset Management AS grew its position in shares of Peloton Interactive by 31.7% in the fourth quarter. DNB Asset Management AS now owns 8,386,903 shares of the company’s stock valued at $51,076,000 after purchasing an additional 2,020,159 shares during the last quarter. Patient Capital Management LLC increased its stake 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 purchasing an additional 1,527,471 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake 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 purchasing an additional 1,061,868 shares in the last quarter. Hedge funds and other institutional investors own 77.01% of the company’s stock.

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.