Peloton Interactive (NASDAQ:PTON) Receives Market Perform Rating from JMP Securities

JMP Securities reissued their market perform rating on shares of Peloton Interactive (NASDAQ:PTON) in a report released on Tuesday, Benzinga reports.

Several other research analysts also recently commented on PTON. The Goldman Sachs Group decreased their price objective on Peloton Interactive from $5.75 to $3.50 and set a neutral rating on the stock in a research note on Friday, May 3rd. Citigroup downgraded Peloton Interactive from a buy rating to a neutral rating and decreased their price objective for the stock from $8.00 to $4.00 in a research note on Monday, May 6th. JPMorgan Chase & Co. decreased their price objective on Peloton Interactive from $8.00 to $7.00 and set an overweight rating on the stock in a research note on Friday, May 3rd. Needham & Company LLC reaffirmed a hold rating on shares of Peloton Interactive in a research note on Friday, May 3rd. Finally, Bank of America decreased their target price on Peloton Interactive from $4.00 to $3.25 and set an underperform rating on the stock in a research note on Monday, April 29th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $5.09.

Peloton Interactive Price Performance

Peloton Interactive stock opened at $3.39 on Tuesday. Peloton Interactive has a one year low of $2.70 and a one year high of $9.87. The stock has a market capitalization of $1.26 billion, a PE ratio of -1.55 and a beta of 2.02. The business’s fifty day moving average is $3.58 and its 200 day moving average is $4.40.

Peloton Interactive (NASDAQ:PTON) last announced its earnings results 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 analyst estimates of $720.85 million. The business’s revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.79) earnings per share. As a group, sell-side analysts expect that Peloton Interactive will post -1.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other Peloton Interactive news, insider Andrew S. Rendich sold 27,741 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $3.91, for a total value of $108,467.31. Following the completion of the sale, the insider now directly owns 113,288 shares in the company, valued at approximately $442,956.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Peloton Interactive news, insider Andrew S. Rendich sold 27,741 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $3.91, for a total value of $108,467.31. Following the completion of the sale, the insider now directly owns 113,288 shares in the company, valued at approximately $442,956.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Elizabeth F. Coddington sold 8,923 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $3.68, for a total value of $32,836.64. Following the completion of the transaction, the chief financial officer now directly owns 186,466 shares of the company’s stock, valued at $686,194.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,441 shares of company stock worth $244,496. 3.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its position in Peloton Interactive by 13.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,528,222 shares of the company’s stock valued at $15,397,000 after buying an additional 295,436 shares in the last quarter. Vanguard Group Inc. increased its position in Peloton Interactive by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 29,603,777 shares of the company’s stock valued at $149,499,000 after buying an additional 248,314 shares in the last quarter. Versor Investments LP acquired a new position in Peloton Interactive during the 4th quarter valued at about $202,000. Clear Harbor Asset Management LLC acquired a new position in Peloton Interactive during the 4th quarter valued at about $78,000. Finally, Seven Eight Capital LP purchased a new stake in Peloton Interactive during the 4th quarter valued at about $855,000. 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.