Peloton Interactive (NASDAQ:PTON) Shares Gap Up Following Analyst Upgrade

Peloton Interactive, Inc. (NASDAQ:PTON)’s share price gapped up prior to trading on Monday after BMO Capital Markets raised their price target on the stock from $6.50 to $8.50. The stock had previously closed at $7.25, but opened at $7.84. BMO Capital Markets currently has a market perform rating on the stock. Peloton Interactive shares last traded at $7.55, with a volume of 7,185,089 shares.

A number of other research firms have also issued reports on PTON. Morgan Stanley raised their target price on Peloton Interactive from $3.50 to $5.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Telsey Advisory Group raised their price objective on shares of Peloton Interactive from $5.00 to $9.00 and gave the stock a “market perform” rating in a research note on Friday, November 1st. Wolfe Research initiated coverage on shares of Peloton Interactive in a research note on Tuesday, July 16th. They set a “peer perform” rating for the company. Bank of America upgraded shares of Peloton Interactive from an “underperform” rating to a “buy” rating and raised their price target for the stock from $3.75 to $9.00 in a research report on Monday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Peloton Interactive from $5.00 to $7.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Sixteen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Peloton Interactive currently has an average rating of “Hold” and an average target price of $6.57.

Insider Transactions at Peloton Interactive

In related news, insider Nick V. Caldwell purchased 31,337 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average price of $4.25 per share, with a total value of $133,182.25. Following the purchase, the insider now directly owns 31,337 shares in the company, valued at $133,182.25. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Nick V. Caldwell acquired 31,337 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was bought at an average cost of $4.25 per share, with a total value of $133,182.25. Following the completion of the acquisition, the insider now owns 31,337 shares in the company, valued at $133,182.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Saqib Baig sold 50,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $4.88, for a total transaction of $244,000.00. Following the completion of the sale, the chief accounting officer now directly owns 87,014 shares in the company, valued at approximately $424,628.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 194,888 shares of company stock valued at $1,038,717. Corporate insiders own 1.34% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PTON. Mercer Global Advisors Inc. ADV acquired a new stake in Peloton Interactive during the 2nd quarter valued at $27,000. Skylands Capital LLC acquired a new position in Peloton Interactive during the 2nd quarter worth about $30,000. Nisa Investment Advisors LLC grew its holdings in Peloton Interactive by 1,836.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,490 shares of the company’s stock worth $32,000 after acquiring an additional 9,000 shares during the last quarter. Sheaff Brock Investment Advisors LLC acquired a new stake in Peloton Interactive in the 1st quarter valued at about $44,000. Finally, Schneider Downs Wealth Management Advisors LP bought a new position in shares of Peloton Interactive in the second quarter worth about $35,000. Institutional investors own 77.01% of the company’s stock.

Peloton Interactive Stock Up 2.0 %

The stock’s 50-day moving average price is $5.22 and its 200-day moving average price is $4.14. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of -7.16 and a beta of 1.93.

Peloton Interactive (NASDAQ:PTON) last released 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 business had revenue of $586.00 million for the quarter, compared to the consensus estimate of $572.97 million. During the same quarter in the previous year, the firm posted ($0.44) EPS. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities research analysts anticipate that Peloton Interactive, Inc. will post -0.65 EPS for the current year.

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.