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

Peloton Interactive, Inc. (NASDAQ:PTON - Get Free Report)'s stock price gapped up before the market opened 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 changing hands.

Other analysts also recently issued research reports about the stock. JMP Securities reaffirmed a "market perform" rating on shares of Peloton Interactive in a research note on Thursday, October 3rd. Canaccord Genuity Group raised their price target on Peloton Interactive from $4.00 to $5.00 and gave the company a "hold" rating in a research note on Friday, August 23rd. Macquarie increased their target price on shares of Peloton Interactive from $4.90 to $9.00 and gave the stock a "neutral" rating in a report on Friday. Morgan Stanley boosted their price target on shares of Peloton Interactive from $3.50 to $5.00 and gave the company an "equal weight" rating in a report on Friday. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Peloton Interactive in a research note on Friday. Sixteen analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Peloton Interactive currently has an average rating of "Hold" and a consensus price target of $6.57.

Insider Buying and Selling at Peloton Interactive

In other news, CAO Saqib Baig sold 50,000 shares of the stock in a transaction dated 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 directly owns 87,014 shares in the company, valued at $424,628.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Nick V. Caldwell acquired 31,337 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average price 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 of the company's stock, valued at $133,182.25. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Saqib Baig sold 50,000 shares of Peloton Interactive 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 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 90 days, insiders have sold 194,888 shares of company stock worth $1,038,717. Corporate insiders own 1.34% of the company's stock.

Institutional Investors Weigh In On Peloton Interactive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Peloton Interactive during the 2nd quarter worth about $27,000. Skylands Capital LLC purchased a new stake in shares of Peloton Interactive in the 2nd quarter valued at approximately $30,000. Nisa Investment Advisors LLC lifted its holdings in shares of Peloton Interactive by 1,836.7% in 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. Schneider Downs Wealth Management Advisors LP purchased a new position in shares of Peloton Interactive during the 2nd quarter worth approximately $35,000. Finally, CIBC Asset Management Inc acquired a new stake in Peloton Interactive in the 2nd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 77.01% of the company's stock.

Peloton Interactive Price Performance

The business has a 50 day simple moving average of $5.17 and a 200 day simple moving average of $4.10. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of -7.02 and a beta of 1.92.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $586.00 million during the quarter, compared to analysts' expectations 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 posted ($0.44) earnings per share. On average, equities research analysts predict 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.