Peloton Interactive (NASDAQ:PTON) Trading 10.9% Higher

Peloton Interactive, Inc. (NASDAQ:PTON) was up 10.9% during trading on Thursday . The company traded as high as $4.38 and last traded at $4.37. Approximately 16,717,025 shares changed hands during mid-day trading, an increase of 7% from the average daily volume of 15,619,540 shares. The stock had previously closed at $3.94.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PTON shares. Needham & Company LLC restated a “hold” rating on shares of Peloton Interactive in a report on Friday, May 3rd. JPMorgan Chase & Co. cut their target price on Peloton Interactive from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Roth Mkm decreased their price target on Peloton Interactive from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. The Goldman Sachs Group cut their price objective on Peloton Interactive from $5.75 to $3.50 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Finally, Morgan Stanley assumed coverage on shares of Peloton Interactive in a report on Monday, March 11th. They issued an “equal weight” rating and a $3.00 target price for the company. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $5.11.

Peloton Interactive Stock Performance

The stock has a market cap of $1.64 billion, a P/E ratio of -2.11 and a beta of 2.01. The firm’s 50-day moving average is $3.88 and its two-hundred day moving average is $4.85.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.06). The business had revenue of $717.70 million for the quarter, compared to analysts’ expectations of $720.85 million. Peloton Interactive’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.79) EPS. As a group, research analysts forecast that Peloton Interactive, Inc. will post -1.61 EPS for the current year.

Insider Activity at Peloton Interactive

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,977 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $4.34, for a total transaction of $38,960.18. Following the completion of the sale, the chief financial officer now directly owns 104,428 shares in the company, valued at approximately $453,217.52. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.28% of the stock is currently owned by insiders.

Institutional Trading of Peloton Interactive

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Johnson & White Wealth Management LLC bought a new stake in Peloton Interactive during the first quarter worth $43,000. Abundance Wealth Counselors purchased a new stake in Peloton Interactive in the 1st quarter valued at about $46,000. Rakuten Securities Inc. purchased a new position in shares of Peloton Interactive in the 4th quarter worth approximately $47,000. Carl P. Sherr & Co. LLC purchased a new position in Peloton Interactive in the third quarter valued at about $55,000. Finally, Clear Harbor Asset Management LLC purchased a new position in Peloton Interactive in the fourth quarter valued at approximately $78,000. 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.