Peloton Interactive (NASDAQ:PTON) Raised to Neutral at UBS Group

Peloton Interactive (NASDAQ:PTON) was upgraded by investment analysts at UBS Group from a “sell” rating to a “neutral” rating in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a $10.00 price target on the stock, up from their prior price target of $2.50. UBS Group’s target price would indicate a potential upside of 3.63% from the stock’s previous close.

Several other equities research analysts have also recently commented on the company. Robert W. Baird lifted their target price on Peloton Interactive from $4.75 to $8.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Roth Mkm raised 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. Needham & Company LLC reissued a “hold” rating on shares of Peloton Interactive in a report on Friday, November 1st. BMO Capital Markets raised their target price on shares of Peloton Interactive from $6.50 to $8.50 and gave the company a “market perform” rating in a research note on Monday, November 4th. Finally, Sanford C. Bernstein lifted their price target on shares of Peloton Interactive from $4.25 to $6.50 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Sixteen analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.97.

Peloton Interactive Stock Up 1.2 %

Peloton Interactive stock opened at $9.65 on Friday. Peloton Interactive has a 12-month low of $2.70 and a 12-month high of $10.40. The stock has a 50-day simple moving average of $7.10 and a 200 day simple moving average of $4.94. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of -9.02 and a beta of 1.90.

Peloton Interactive (NASDAQ:PTON) last announced its earnings results on Thursday, October 31st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The firm had revenue of $586.00 million for the quarter, compared to the consensus estimate of $572.97 million. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.44) EPS. As a group, sell-side analysts anticipate that Peloton Interactive will post -0.38 EPS for the current year.

Insider Buying and Selling

In other news, CFO Elizabeth F. Coddington sold 36,819 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $4.74, for a total transaction of $174,522.06. Following the completion of the sale, the chief financial officer now owns 171,466 shares of the company’s stock, valued at $812,748.84. This represents a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Karen Boone sold 13,484 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $8.27, for a total transaction of $111,512.68. Following the completion of the sale, the chief executive officer now directly owns 211,459 shares in the company, valued at $1,748,765.93. This represents a 5.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 467,358 shares of company stock valued at $3,435,118. 1.34% of the stock is owned by company insiders.

Institutional Trading of Peloton Interactive

Several hedge funds and other institutional investors have recently modified their holdings of the company. Gtcr LLC bought a new stake in Peloton Interactive in the 3rd quarter valued at approximately $65,520,000. Two Sigma Advisers LP raised its holdings in shares of Peloton Interactive by 2.9% in the third quarter. Two Sigma Advisers LP now owns 7,440,900 shares of the company’s stock valued at $34,823,000 after purchasing an additional 206,500 shares during the last quarter. DME Capital Management LP acquired a new position in Peloton Interactive during the second quarter worth $22,947,000. Charles Schwab Investment Management Inc. grew its position in Peloton Interactive by 7.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,996,356 shares of the company’s stock valued at $18,703,000 after purchasing an additional 291,946 shares in the last quarter. Finally, Clearline Capital LP acquired a new stake in Peloton Interactive in the 2nd quarter valued at $7,527,000. 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.