Peloton Interactive (NASDAQ:PTON) Rating Increased to Buy at Bank of America

Peloton Interactive (NASDAQ:PTON - Get Free Report) was upgraded by analysts at Bank of America from an "underperform" rating to a "buy" rating in a research report issued on Monday, Marketbeat reports. The firm currently has a $9.00 price target on the stock, up from their previous price target of $3.75. Bank of America's target price suggests a potential upside of 19.84% from the stock's current price.

A number of other equities analysts have also recently commented on PTON. JMP Securities reaffirmed a "market perform" rating on shares of Peloton Interactive in a report on Thursday, October 3rd. Macquarie upped their price objective on Peloton Interactive from $4.90 to $9.00 and gave the company a "neutral" rating in a research report on Friday. Canaccord Genuity Group lifted their target price on Peloton Interactive from $4.00 to $5.00 and gave the stock a "hold" rating in a report on Friday, August 23rd. Sanford C. Bernstein increased their target price on shares of Peloton Interactive from $4.25 to $6.50 and gave the company a "market perform" rating in a research note on Friday. Finally, Roth Mkm raised their price objective on shares of Peloton Interactive from $5.00 to $6.00 and gave the stock a "buy" rating in a research note on Friday, August 23rd. Sixteen research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Peloton Interactive presently has a consensus rating of "Hold" and a consensus price target of $6.57.

Peloton Interactive Stock Up 3.6 %

Shares of PTON traded up $0.26 during trading hours on Monday, reaching $7.51. 36,996,297 shares of the company traded hands, compared to its average volume of 16,327,741. The company's fifty day moving average price is $5.11 and its two-hundred day moving average price is $4.07. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of -7.09 and a beta of 1.92. Peloton Interactive has a 12 month low of $2.70 and a 12 month high of $8.92.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.01). The company had revenue of $586.00 million during the quarter, compared to the consensus estimate of $572.97 million. The firm's quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.44) earnings per share. On average, analysts expect that Peloton Interactive will post -0.65 EPS for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Peloton Interactive in the second quarter valued at approximately $27,000. Skylands Capital LLC acquired a new stake in shares of Peloton Interactive during the 2nd quarter worth about $30,000. Nisa Investment Advisors LLC grew its holdings in shares of Peloton Interactive by 1,836.7% during the second quarter. Nisa Investment Advisors LLC now owns 9,490 shares of the company's stock worth $32,000 after buying an additional 9,000 shares in the last quarter. Sheaff Brock Investment Advisors LLC purchased a new position in shares of Peloton Interactive during the first quarter valued at approximately $44,000. Finally, Schneider Downs Wealth Management Advisors LP purchased a new position in shares of Peloton Interactive during the 2nd quarter worth $35,000. 77.01% of the stock is currently owned by hedge funds and other institutional investors.

About Peloton Interactive

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.