Peloton Interactive (NASDAQ:PTON) Price Target Raised to $10.00

Peloton Interactive (NASDAQ:PTON) had its price target hoisted by Truist Financial from $6.00 to $10.00 in a report issued on Friday morning, Benzinga reports. They currently have a hold rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Needham & Company LLC reissued a “hold” rating on shares of Peloton Interactive in a report on Friday. Sanford C. Bernstein lifted their price target on shares of Peloton Interactive from $3.80 to $4.25 and gave the stock a “market perform” rating in a research report on Friday, August 23rd. TD Cowen lifted their price target on shares of Peloton Interactive from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Macquarie lifted their price target on shares of Peloton Interactive from $4.90 to $9.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Robert W. Baird boosted their price target on shares of Peloton Interactive from $4.75 to $8.00 and gave the company a “neutral” rating in a report on Friday. Sixteen analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.57.

Peloton Interactive Stock Up 3.6 %

PTON opened at $7.51 on Friday. The business’s 50 day moving average is $5.17 and its 200-day moving average is $4.10. Peloton Interactive has a twelve month low of $2.70 and a twelve month high of $8.92.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings results 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 firm 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 previous year, the business posted ($0.44) earnings per share. As a group, equities research analysts forecast that Peloton Interactive will post -0.65 earnings per share for the current year.

Insider Activity at Peloton Interactive

In other news, CEO Karen Boone sold 13,484 shares of Peloton Interactive stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $8.27, for a total value of $111,512.68. Following the completion of the transaction, the chief executive officer now owns 211,459 shares of the company’s stock, valued at $1,748,765.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Peloton Interactive news, CEO Karen Boone sold 13,484 shares of Peloton Interactive stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $8.27, for a total value of $111,512.68. Following the completion of the sale, the chief executive officer now owns 211,459 shares in the company, valued at $1,748,765.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nick V. Caldwell acquired 31,337 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was acquired at an average price of $4.25 per share, with a total value of $133,182.25. Following the purchase, the insider now directly owns 31,337 shares in the company, valued at approximately $133,182.25. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 194,888 shares of company stock valued at $1,038,717. Corporate insiders own 1.34% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. grew its holdings in shares of Peloton Interactive by 25,397.7% during the 1st quarter. Russell Investments Group Ltd. now owns 393,685 shares of the company’s stock valued at $1,687,000 after purchasing an additional 392,141 shares during the last quarter. Select Equity Group L.P. bought a new stake in Peloton Interactive during the 2nd quarter worth approximately $1,832,000. The Manufacturers Life Insurance Company grew its holdings in Peloton Interactive by 253.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 181,589 shares of the company’s stock worth $614,000 after acquiring an additional 130,242 shares during the last quarter. Vanguard Group Inc. grew its holdings in Peloton Interactive by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company’s stock worth $135,212,000 after acquiring an additional 1,215,397 shares during the last quarter. Finally, Swiss National Bank grew its holdings in Peloton Interactive by 1.2% during the 1st quarter. Swiss National Bank now owns 642,200 shares of the company’s stock worth $2,752,000 after acquiring an additional 7,600 shares during the last quarter. 77.01% of the stock is owned by 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.