Peloton Interactive (NASDAQ:PTON) Upgraded at Canaccord Genuity Group

Peloton Interactive (NASDAQ:PTON) was upgraded by equities researchers at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a note issued to investors on Friday, Marketbeat.com reports. The firm presently has a $10.00 price target on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 41.84% from the company’s current price.

Several other equities analysts have also weighed in on PTON. Telsey Advisory Group restated a “market perform” rating and issued a $11.00 price objective on shares of Peloton Interactive in a report on Monday, February 3rd. Citigroup reduced their price target on Peloton Interactive from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. Macquarie reiterated a “neutral” rating and issued a $9.00 price objective on shares of Peloton Interactive in a report on Monday, February 10th. Needham & Company LLC restated a “hold” rating on shares of Peloton Interactive in a research report on Thursday, February 6th. Finally, The Goldman Sachs Group increased their price target on shares of Peloton Interactive from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Fifteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Peloton Interactive has a consensus rating of “Hold” and an average price target of $8.69.

Peloton Interactive Price Performance

PTON stock opened at $7.05 on Friday. The company has a 50 day moving average price of $8.12 and a 200 day moving average price of $7.43. Peloton Interactive has a fifty-two week low of $2.70 and a fifty-two week high of $10.90. The stock has a market capitalization of $2.75 billion, a PE ratio of -9.16 and a beta of 1.95.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.04). As a group, equities analysts expect that Peloton Interactive will post -0.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Peloton Interactive

In related news, CFO Elizabeth F. Coddington sold 170,819 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $9.62, for a total transaction of $1,643,278.78. Following the sale, the chief financial officer now owns 275,212 shares of the company’s stock, valued at $2,647,539.44. This represents a 38.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Saqib Baig sold 22,662 shares of Peloton Interactive stock in a transaction on Wednesday, February 19th. The shares were 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 $1,267,802.25. This represents a 14.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 584,719 shares of company stock valued at $4,958,301 in the last ninety days. 1.34% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PTON. R Squared Ltd bought a new position in Peloton Interactive in the 4th quarter valued at about $28,000. Point72 Asia Singapore Pte. Ltd. increased its stake in Peloton Interactive by 31.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company’s stock valued at $31,000 after acquiring an additional 1,597 shares during the last quarter. Russell Investments Group Ltd. raised its position in Peloton Interactive by 969.6% during the fourth quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company’s stock valued at $35,000 after purchasing an additional 3,636 shares in the last quarter. Comerica Bank lifted its stake in Peloton Interactive by 29.1% during the fourth quarter. Comerica Bank now owns 6,164 shares of the company’s stock worth $54,000 after purchasing an additional 1,389 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Peloton Interactive in the 3rd quarter valued at $58,000. Institutional investors and hedge funds 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.