Peloton Interactive (NASDAQ:PTON) Upgraded to Buy at Deutsche Bank Aktiengesellschaft

Peloton Interactive (NASDAQ:PTON) was upgraded by equities researchers at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a report issued on Monday, MarketBeat.com reports. The firm presently has a $6.60 price objective on the stock. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 15.18% from the company’s previous close.

PTON has been the topic of a number of other research reports. Citigroup lowered 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. 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. Needham & Company LLC reissued a “hold” rating on shares of Peloton Interactive in a research note on Thursday, February 6th. JMP Securities reissued a “market perform” rating on shares of Peloton Interactive in a research note on Friday, February 7th. Finally, Canaccord Genuity Group raised Peloton Interactive from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Friday, March 14th. Fifteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $8.59.

Peloton Interactive Stock Performance

NASDAQ:PTON opened at $5.73 on Monday. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of -7.44 and a beta of 2.21. Peloton Interactive has a 52-week low of $2.70 and a 52-week high of $10.90. The business’s fifty day moving average is $7.04 and its 200 day moving average is $7.65.

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

Insider Activity

In related news, CAO Saqib Baig sold 22,662 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $9.75, for a total transaction of $220,954.50. Following the completion of the transaction, the chief accounting officer now directly owns 130,031 shares in the company, valued at approximately $1,267,802.25. The trade was a 14.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Andrew S. Rendich sold 121,883 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $9.54, for a total transaction of $1,162,763.82. Following the completion of the sale, the insider now directly owns 404,188 shares of the company’s stock, valued at approximately $3,855,953.52. This trade represents a 23.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 674,338 shares of company stock valued at $5,522,838 over the last three months. Insiders own 1.34% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

Several large investors have recently made changes to their positions in PTON. Townsquare Capital LLC increased its holdings in shares of Peloton Interactive by 6.5% in the fourth quarter. Townsquare Capital LLC now owns 19,280 shares of the company’s stock worth $168,000 after purchasing an additional 1,172 shares during the last quarter. Comerica Bank boosted its holdings in Peloton Interactive by 29.1% during the 4th quarter. Comerica Bank now owns 6,164 shares of the company’s stock valued at $54,000 after acquiring an additional 1,389 shares during the period. Cetera Investment Advisers grew its holdings in shares of Peloton Interactive by 9.1% in the fourth quarter. Cetera Investment Advisers now owns 17,144 shares of the company’s stock worth $149,000 after purchasing an additional 1,432 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Peloton Interactive by 3.8% during the fourth quarter. Victory Capital Management Inc. now owns 42,084 shares of the company’s stock worth $366,000 after acquiring an additional 1,534 shares during the period. Finally, Choreo LLC increased its holdings in Peloton Interactive by 12.3% during the 4th quarter. Choreo LLC now owns 16,832 shares of the company’s stock worth $150,000 after purchasing an additional 1,838 shares during the period. 77.01% of the stock is currently owned by hedge funds and other institutional investors.

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.