Peloton Interactive (NASDAQ:PTON) Trading 6.5% Higher – What’s Next?
by Sarita Garza · The Markets DailyShares of Peloton Interactive, Inc. (NASDAQ:PTON – Get Free Report) rose 6.5% during trading on Thursday . The company traded as high as $4.61 and last traded at $4.58. Approximately 4,937,175 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 13,842,064 shares. The stock had previously closed at $4.30.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on PTON shares. Argus cut shares of Peloton Interactive from a “buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Zacks Research lowered shares of Peloton Interactive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Truist Financial decreased their target price on shares of Peloton Interactive from $12.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. JPMorgan Chase & Co. lowered their price target on shares of Peloton Interactive from $9.00 to $6.00 and set a “neutral” rating for the company in a report on Friday, February 6th. Finally, Guggenheim assumed coverage on Peloton Interactive in a research note on Wednesday, December 10th. They issued a “neutral” rating for the company. Seven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $8.42.
Peloton Interactive Price Performance
The company has a 50 day moving average price of $4.39 and a 200-day moving average price of $6.13. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -35.23, a P/E/G ratio of 0.75 and a beta of 2.37.
Peloton Interactive (NASDAQ:PTON – Get Free Report) last posted its earnings results on Thursday, February 5th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02). During the same period last year, the business posted ($0.24) EPS. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. On average, analysts forecast that Peloton Interactive, Inc. will post -0.36 EPS for the current fiscal year.
Insider Buying and Selling
In related news, insider Dion C. Sanders sold 146,844 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $4.41, for a total value of $647,582.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Saqib Baig sold 30,918 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $4.14, for a total value of $128,000.52. Following the transaction, the chief accounting officer directly owned 219,781 shares of the company’s stock, valued at approximately $909,893.34. This represents a 12.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,052,924 shares of company stock valued at $4,823,092 over the last quarter. 1.30% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Peloton Interactive
Several institutional investors have recently added to or reduced their stakes in PTON. Vanguard Group Inc. boosted its position in shares of Peloton Interactive by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 38,636,291 shares of the company’s stock worth $347,727,000 after purchasing an additional 811,585 shares in the last quarter. Voya Investment Management LLC increased its position in Peloton Interactive by 325.5% in the 3rd quarter. Voya Investment Management LLC now owns 429,929 shares of the company’s stock valued at $3,869,000 after buying an additional 328,894 shares in the last quarter. Jupiter Asset Management Ltd. increased its position in Peloton Interactive by 322.9% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 1,563,249 shares of the company’s stock valued at $14,069,000 after buying an additional 1,193,597 shares in the last quarter. Lisanti Capital Growth LLC acquired a new position in Peloton Interactive during the 3rd quarter worth approximately $2,429,000. Finally, Eminence Capital LP acquired a new position in Peloton Interactive during the 2nd quarter worth approximately $112,681,000. 77.01% of the stock is owned by institutional investors and hedge funds.
Peloton Interactive Company Profile
Peloton Interactive, Inc operates a digital fitness platform that combines connected exercise equipment with live and on-demand workout classes. The company’s core products include stationary bikes (Peloton Bike and Bike+), treadmills (Peloton Tread and Tread+), and the Peloton Row. Each device integrates a touchscreen display that streams instructor-led cycling, running, strength, yoga, meditation and other fitness classes. Peloton generates recurring revenue through subscription plans, which grant users access to its growing library of workouts, performance tracking tools and community features.
Founded in 2012 by John Foley and headquartered in New York City, Peloton set out to deliver an immersive home-fitness experience by blending hardware, software and content.