Peloton Interactive (NASDAQ:PTON) Raised to “Buy” at Canaccord Genuity Group

Peloton Interactive (NASDAQ:PTON) was upgraded by equities research analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a research note issued on Friday, Marketbeat.com reports. The firm currently has a $10.00 price objective on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 64.74% from the stock’s current price.

Other equities analysts also recently issued reports about the company. JMP Securities restated a “market perform” rating on shares of Peloton Interactive in a report on Friday, February 7th. Argus upgraded shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research note on Tuesday, February 11th. Needham & Company LLC restated a “hold” rating on shares of Peloton Interactive in a report on Thursday, February 6th. Macquarie reaffirmed a “neutral” rating and issued a $9.00 price objective on shares of Peloton Interactive in a research report on Monday, February 10th. Finally, Citigroup lowered their price target on Peloton Interactive from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. Fifteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $8.69.

Peloton Interactive Trading Down 0.5 %

Shares of Peloton Interactive stock opened at $6.07 on Friday. The business has a fifty day simple moving average of $8.16 and a two-hundred day simple moving average of $7.39. The firm has a market capitalization of $2.37 billion, a P/E ratio of -7.88 and a beta of 1.95. Peloton Interactive has a 12 month low of $2.70 and a 12 month high of $10.90.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.04). Analysts predict that Peloton Interactive will post -0.36 earnings per share for the current year.

Insider Activity

In other Peloton Interactive news, Director Karen Boone sold 17,259 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $8.63, for a total transaction of $148,945.17. Following the sale, the director now directly owns 244,641 shares of the company’s stock, valued at $2,111,251.83. This trade represents a 6.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Saqib Baig sold 22,662 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $9.75, for a total value of $220,954.50. Following the completion of the transaction, the chief accounting officer now directly owns 130,031 shares of the company’s stock, valued at approximately $1,267,802.25. This trade represents a 14.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 584,719 shares of company stock worth $4,958,301 in the last three months. Company insiders own 1.34% of the company’s stock.

Institutional Trading of Peloton Interactive

Hedge funds have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Peloton Interactive in the third quarter worth about $5,724,000. Gtcr LLC purchased a new position in shares of Peloton Interactive in the 3rd quarter worth $65,520,000. Two Sigma Advisers LP increased its holdings in shares of Peloton Interactive by 2.9% in the 3rd quarter. Two Sigma Advisers LP now owns 7,440,900 shares of the company’s stock worth $34,823,000 after buying an additional 206,500 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Peloton Interactive in the 4th quarter worth about $360,000. Finally, Versor Investments LP bought a new position in shares of Peloton Interactive in the 3rd quarter valued at about $415,000. 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.