Telsey Advisory Group Forecasts Strong Price Appreciation for Peloton Interactive (NASDAQ:PTON) Stock

Peloton Interactive (NASDAQ:PTON) had its price target boosted by Telsey Advisory Group from $5.00 to $9.00 in a research report sent to investors on Friday, MarketBeat.com reports. They currently have a market perform rating on the stock.

PTON has been the subject of a number of other reports. JMP Securities reissued a “market perform” rating on shares of Peloton Interactive in a research report on Thursday, October 3rd. Canaccord Genuity Group lifted their price objective on Peloton Interactive from $4.00 to $5.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. Robert W. Baird upped their target price on Peloton Interactive from $4.00 to $4.75 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Peloton Interactive in a report on Thursday, August 22nd. Finally, Roth Mkm boosted their price target on Peloton Interactive from $5.00 to $6.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Sixteen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.57.

Peloton Interactive Trading Up 3.6 %

NASDAQ:PTON opened at $7.51 on Friday. The company has a market capitalization of $2.83 billion, a P/E ratio of -7.02 and a beta of 1.92. Peloton Interactive has a 12 month low of $2.70 and a 12 month high of $8.92. The firm has a fifty day simple moving average of $5.17 and a 200-day simple moving average of $4.10.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The business had revenue of $586.00 million during the quarter, compared to analyst estimates of $572.97 million. During the same quarter in the previous year, the firm posted ($0.44) EPS. The business’s revenue was down 1.6% on a year-over-year basis. Equities analysts forecast that Peloton Interactive will post -0.65 EPS for the current year.

Insider Activity

In other Peloton Interactive news, CAO Saqib Baig sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $4.88, for a total transaction of $244,000.00. Following the completion of the transaction, the chief accounting officer now owns 87,014 shares in the company, valued at $424,628.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Chris Bruzzo sold 24,977 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $5.80, for a total value of $144,866.60. Following the completion of the transaction, the chief executive officer now owns 149,240 shares in the company, valued at approximately $865,592. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Saqib Baig sold 50,000 shares of Peloton Interactive stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $4.88, for a total transaction of $244,000.00. Following the sale, the chief accounting officer now owns 87,014 shares in the company, valued at $424,628.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 194,888 shares of company stock worth $1,038,717. 1.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Peloton Interactive

Hedge funds have recently made changes to their positions in the company. DME Capital Management LP acquired a new position in shares of Peloton Interactive in the 2nd quarter valued at $22,947,000. DNB Asset Management AS raised its holdings in shares of Peloton Interactive by 42.4% in the second quarter. DNB Asset Management AS now owns 12,130,553 shares of the company’s stock valued at $40,880,000 after buying an additional 3,611,069 shares during the last quarter. Clearline Capital LP acquired a new stake in shares of Peloton Interactive during the second quarter worth about $7,527,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Peloton Interactive during the first quarter worth about $5,877,000. Finally, Vanguard Group Inc. increased its position in Peloton Interactive by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company’s stock valued at $135,212,000 after acquiring an additional 1,215,397 shares during the period. Hedge funds and other institutional investors own 77.01% of the company’s stock.

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.