Sanford C. Bernstein Boosts Peloton Interactive (NASDAQ:PTON) Price Target to $6.50

Peloton Interactive (NASDAQ:PTON - Get Free Report) had its price objective lifted by Sanford C. Bernstein from $4.25 to $6.50 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a "market perform" rating on the stock. Sanford C. Bernstein's price target points to a potential downside of 10.34% from the stock's previous close.

A number of other equities research analysts have also issued reports on PTON. Macquarie upped their target price on Peloton Interactive from $4.90 to $9.00 and gave the company a "neutral" rating in a research note on Friday. Robert W. Baird upped their price objective on Peloton Interactive from $4.75 to $8.00 and gave the company a "neutral" rating in a research report on Friday. Telsey Advisory Group lifted their price objective on Peloton Interactive from $5.00 to $9.00 and gave the stock a "market perform" rating in a research report on Friday. Roth Mkm upped their target price on shares of Peloton Interactive from $5.00 to $6.00 and gave the company a "buy" rating in a report on Friday, August 23rd. Finally, Wolfe Research initiated coverage on shares of Peloton Interactive in a report on Tuesday, July 16th. They set a "peer perform" rating for the company. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $5.98.

Peloton Interactive Stock Performance

Peloton Interactive stock traded down $1.25 during midday trading on Friday, hitting $7.25. 43,765,806 shares of the company's stock were exchanged, compared to its average volume of 16,229,469. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of -4.80 and a beta of 2.04. Peloton Interactive has a 12-month low of $2.70 and a 12-month high of $8.92. The firm's 50 day simple moving average is $5.11 and its 200 day simple moving average is $4.06.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The business had revenue of $586.00 million during the quarter, compared to the consensus estimate of $572.97 million. The company's revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.44) EPS. On average, equities research analysts forecast that Peloton Interactive will post -0.65 EPS for the current fiscal year.

Insider Activity at Peloton Interactive

In other news, CAO Saqib Baig sold 50,000 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The shares were 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 owns 87,014 shares of the company's stock, valued at approximately $424,628.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Peloton Interactive news, CEO Chris Bruzzo sold 24,977 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $5.80, for a total transaction of $144,866.60. Following the transaction, the chief executive officer now owns 149,240 shares of the company's stock, valued at $865,592. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Saqib Baig sold 50,000 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $4.88, for a total value of $244,000.00. Following the completion of the sale, the chief accounting officer now owns 87,014 shares of the company's stock, valued at $424,628.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 167,880 shares of company stock valued at $815,767. Insiders own 1.34% of the company's stock.

Institutional Investors Weigh In On Peloton Interactive

A number of institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. lifted its stake in Peloton Interactive by 25,397.7% in the first quarter. Russell Investments Group Ltd. now owns 393,685 shares of the company's stock valued at $1,687,000 after buying an additional 392,141 shares during the last quarter. Select Equity Group L.P. bought a new stake in Peloton Interactive in the 2nd quarter valued at about $1,832,000. The Manufacturers Life Insurance Company lifted its position in Peloton Interactive by 253.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 181,589 shares of the company's stock valued at $614,000 after purchasing an additional 130,242 shares during the last quarter. Vanguard Group Inc. boosted its stake in Peloton Interactive by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company's stock valued at $135,212,000 after purchasing an additional 1,215,397 shares during the period. Finally, Swiss National Bank grew its position in Peloton Interactive by 1.2% in the 1st quarter. Swiss National Bank now owns 642,200 shares of the company's stock worth $2,752,000 after purchasing an additional 7,600 shares during the last quarter. 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.