Sanford C. Bernstein Downgrades Peloton Interactive (NASDAQ:PTON) to Market Perform

Sanford C. Bernstein lowered shares of Peloton Interactive (NASDAQ:PTON) from an outperform rating to a market perform rating in a research report sent to investors on Friday morning, Marketbeat reports. They currently have $3.80 price target on the stock, down from their previous price target of $8.00.

Other equities analysts have also issued research reports about the company. Morgan Stanley started coverage on Peloton Interactive in a report on Monday, March 11th. They issued an equal weight rating and a $3.00 target price on the stock. Truist Financial lowered their price target on Peloton Interactive from $7.00 to $6.00 and set a hold rating for the company in a report on Friday, February 2nd. JPMorgan Chase & Co. cut their price objective on shares of Peloton Interactive from $9.00 to $8.00 and set an overweight rating on the stock in a report on Friday, February 2nd. Telsey Advisory Group reaffirmed a market perform rating and issued a $4.00 target price (down from $5.00) on shares of Peloton Interactive in a research report on Monday, April 29th. Finally, Bank of America reduced their price target on shares of Peloton Interactive from $4.00 to $3.25 and set an underperform rating for the company in a research report on Monday, April 29th. 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’s stock. According to MarketBeat.com, Peloton Interactive has an average rating of Hold and a consensus price target of $6.15.

Peloton Interactive Stock Up 9.4 %

NASDAQ PTON traded up $0.29 during trading on Friday, hitting $3.43. The stock had a trading volume of 34,797,791 shares, compared to its average volume of 14,415,963. Peloton Interactive has a twelve month low of $2.70 and a twelve month high of $9.87. The firm has a 50 day moving average price of $3.93 and a 200 day moving average price of $4.87. The company has a market capitalization of $1.26 billion, a PE ratio of -1.62 and a beta of 2.01.

Peloton Interactive (NASDAQ:PTON) last issued its earnings results on Thursday, May 2nd. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.06). The company had revenue of $717.70 million for the quarter, compared to analysts’ expectations of $720.85 million. During the same quarter last year, the business posted ($0.79) earnings per share. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Peloton Interactive will post -1.61 earnings per share for the current year.

Insider Activity at Peloton Interactive

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,977 shares of Peloton Interactive stock in a transaction that occurred on Thursday, March 14th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Peloton Interactive

A number of institutional investors have recently added to or reduced their stakes in the business. Rakuten Securities Inc. purchased a new stake in shares of Peloton Interactive during the 4th quarter worth approximately $47,000. Johnson & White Wealth Management LLC purchased a new stake in shares of Peloton Interactive during the 1st quarter worth approximately $43,000. Abundance Wealth Counselors purchased a new stake in Peloton Interactive in the 1st quarter valued at approximately $46,000. Carl P. Sherr & Co. LLC purchased a new stake in Peloton Interactive in the 3rd quarter valued at approximately $55,000. Finally, Clear Harbor Asset Management LLC purchased a new stake in Peloton Interactive in the 4th quarter valued at approximately $78,000. 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.