Peloton Interactive (NASDAQ:PTON) Upgraded at UBS Group

UBS Group upgraded shares of Peloton Interactive (NASDAQ:PTON) from a sell rating to a neutral rating in a research note issued to investors on Friday morning, Marketbeat Ratings reports. The brokerage currently has $10.00 target price on the stock, up from their prior target price of $2.50.

Other equities research analysts also recently issued research reports about the stock. Robert W. Baird lifted their target price on shares of Peloton Interactive from $4.75 to $8.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Peloton Interactive in a research report on Friday, November 1st. TD Cowen raised their price objective on shares of Peloton Interactive from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Morgan Stanley upped their target price on shares of Peloton Interactive from $3.50 to $5.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Finally, JMP Securities reiterated a “market perform” rating on shares of Peloton Interactive in a research note on Thursday, October 3rd. Sixteen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $6.97.

Peloton Interactive Price Performance

Shares of Peloton Interactive stock opened at $10.01 on Friday. Peloton Interactive has a 1 year low of $2.70 and a 1 year high of $10.59. The firm’s 50-day moving average is $7.20 and its 200 day moving average is $5.00. The stock has a market cap of $3.82 billion, a price-to-earnings ratio of -9.36 and a beta of 1.90.

Peloton Interactive (NASDAQ:PTON) last issued its earnings results on Thursday, October 31st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The firm had revenue of $586.00 million for the quarter, compared to analysts’ expectations of $572.97 million. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.44) EPS. On average, equities analysts expect that Peloton Interactive will post -0.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Saqib Baig sold 36,776 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $7.53, for a total transaction of $276,923.28. Following the transaction, the chief accounting officer now directly owns 137,357 shares in the company, valued at approximately $1,034,298.21. This represents a 21.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andrew S. Rendich sold 138,391 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $7.51, for a total transaction of $1,039,316.41. Following the completion of the transaction, the insider now owns 287,973 shares in the company, valued at approximately $2,162,677.23. The trade was a 32.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 467,358 shares of company stock worth $3,435,118. Insiders own 1.34% of the company’s stock.

Institutional Trading of Peloton Interactive

Large investors have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Peloton Interactive during the third quarter valued at $5,724,000. Gtcr LLC bought a new position in shares of Peloton Interactive during the third quarter valued at approximately $65,520,000. Select Equity Group L.P. bought a new stake in Peloton Interactive during the 2nd quarter valued at $1,832,000. Versor Investments LP purchased a new stake in shares of Peloton Interactive during the 3rd quarter worth $415,000. Finally, Intech Investment Management LLC purchased a new position in shares of Peloton Interactive in the 3rd quarter worth approximately $327,000. 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.