Morgan Stanley Forecasts Strong Price Appreciation for Peloton Interactive (NASDAQ:PTON) Stock

Peloton Interactive (NASDAQ:PTON) had its price objective upped by Morgan Stanley from $3.50 to $5.00 in a research note published on Friday morning, Benzinga reports. They currently have an equal weight rating on the stock.

PTON has been the subject of several other reports. Roth Mkm upped their target price on Peloton Interactive from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. lowered Peloton Interactive from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $7.00 to $5.00 in a research report on Friday, August 23rd. TD Cowen upped their target price on Peloton Interactive from $3.00 to $4.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Wolfe Research began coverage on Peloton Interactive in a report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Finally, JMP Securities reissued a “market perform” rating on shares of Peloton Interactive in a report on Thursday, October 3rd. Sixteen research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $6.57.

Peloton Interactive Trading Up 3.6 %

Shares of Peloton Interactive stock opened at $7.51 on Friday. The stock has a 50 day moving average price of $5.17 and a 200-day moving average price of $4.10. Peloton Interactive has a one year low of $2.70 and a one year high of $8.92.

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

Insiders Place Their Bets

In other Peloton Interactive news, CAO Saqib Baig sold 50,000 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 87,014 shares in the company, valued at approximately $424,628.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Peloton Interactive news, Director Chris Bruzzo sold 13,524 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $8.24, for a total transaction of $111,437.76. Following the completion of the transaction, the director now owns 167,362 shares of the company’s stock, valued at $1,379,062.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Saqib Baig sold 50,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $4.88, for a total value of $244,000.00. Following the completion of the sale, the chief accounting officer now directly owns 87,014 shares of the company’s stock, valued at approximately $424,628.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 194,888 shares of company stock worth $1,038,717. 1.34% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Peloton Interactive

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Versor Investments LP acquired a new stake in shares of Peloton Interactive in the third quarter valued at approximately $415,000. Weil Company Inc. acquired a new stake in shares of Peloton Interactive in the third quarter valued at approximately $77,000. Los Angeles Capital Management LLC acquired a new stake in shares of Peloton Interactive in the third quarter valued at approximately $212,000. Verdence Capital Advisors LLC acquired a new stake in Peloton Interactive during the third quarter worth $52,000. Finally, Ballentine Partners LLC acquired a new stake in Peloton Interactive during the third quarter worth $55,000. Institutional investors and hedge funds 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.