Peloton Interactive (NASDAQ:PTON) Trading Up 4.8% – Still a Buy?

11 Oct 2024, 12:09 by Tristan Rich · The Markets Daily

Peloton Interactive, Inc. (NASDAQ:PTON – Get Free Report)’s stock price traded up 4.8% during trading on Wednesday . The stock traded as high as $4.92 and last traded at $4.80. 2,237,202 shares were traded during trading, a decline of 86% from the average session volume of 15,497,760 shares. The stock had previously closed at $4.58.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Canaccord Genuity Group raised their price target on Peloton Interactive from $4.00 to $5.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. cut shares of Peloton Interactive from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $7.00 to $5.00 in a research report on Friday, August 23rd. Telsey Advisory Group raised their price target on Peloton Interactive from $4.00 to $5.00 and gave the stock a “market perform” rating in a report on Friday, August 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Peloton Interactive in a research note on Thursday, August 22nd. Finally, Roth Mkm raised their price target on shares of Peloton Interactive from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $4.52.

Check Out Our Latest Analysis on PTON

Peloton Interactive Stock Performance

The company has a market capitalization of $1.78 billion, a PE ratio of -3.14 and a beta of 2.04. The business has a fifty day moving average price of $4.22 and a 200 day moving average price of $3.82.

Peloton Interactive (NASDAQ:PTON – Get Free Report) last released its quarterly earnings results on Thursday, August 22nd. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.10. The firm had revenue of $644.00 million for the quarter, compared to analyst estimates of $633.00 million. During the same period in the previous year, the business posted ($0.68) earnings per share. Peloton Interactive’s revenue for the quarter was up .3% on a year-over-year basis. Research analysts forecast that Peloton Interactive, Inc. will post -0.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Chris Bruzzo sold 15,113 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $3.42, for a total transaction of $51,686.46. Following the sale, the chief executive officer now owns 97,433 shares of the company’s stock, valued at $333,220.86. The trade was 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 15,113 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $3.42, for a total value of $51,686.46. Following the completion of the transaction, the chief executive officer now owns 97,433 shares of the company’s stock, valued at approximately $333,220.86. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Saqib Baig sold 50,000 shares of the 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 completion of the sale, the chief accounting officer now owns 87,014 shares of the company’s stock, 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. Insiders have sold 158,016 shares of company stock valued at $722,587 over the last three months. Company insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

Several large investors have recently made changes to their positions in the business. Russell Investments Group Ltd. lifted its holdings in shares of Peloton Interactive by 25,397.7% during the first quarter. Russell Investments Group Ltd. now owns 393,685 shares of the company’s stock worth $1,687,000 after buying an additional 392,141 shares during the last quarter. Select Equity Group L.P. acquired a new position in Peloton Interactive during the 2nd quarter valued at $1,832,000. Vanguard Group Inc. boosted its holdings in Peloton Interactive by 4.0% in 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. 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. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Peloton Interactive during the 2nd quarter worth about $68,000. Institutional investors and hedge funds own 77.01% of the company’s stock.

Peloton Interactive Company Profile

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