JPMorgan Chase & Co. Increases Peloton Interactive (NASDAQ:PTON) Price Target to $7.00

Peloton Interactive (NASDAQ:PTON) had its target price raised by JPMorgan Chase & Co. from $5.00 to $7.00 in a report issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 3.45% from the company’s current price.

Other research analysts also recently issued reports about the stock. Sanford C. Bernstein lifted their target price 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. Roth Mkm boosted their target price on shares of Peloton Interactive from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Morgan Stanley raised their target price on Peloton Interactive from $3.50 to $5.00 and gave the stock an “equal weight” rating in a research report on Friday. Needham & Company LLC reissued a “hold” rating on shares of Peloton Interactive in a research report on Friday. Finally, JMP Securities restated a “market perform” rating on shares of Peloton Interactive in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Peloton Interactive has a consensus rating of “Hold” and a consensus target price of $6.05.

Peloton Interactive Stock Performance

Shares of NASDAQ:PTON opened at $7.25 on Friday. The company has a market capitalization of $2.73 billion, a PE ratio of -6.78 and a beta of 1.92. The stock has a fifty day moving average of $5.11 and a 200-day moving average of $4.07. Peloton Interactive has a one year low of $2.70 and a one year high of $8.92.

Peloton Interactive (NASDAQ:PTON) last announced its earnings results on Thursday, October 31st. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The firm had revenue of $586.00 million during the quarter, compared to analyst estimates of $572.97 million. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the company posted ($0.44) earnings per share. As a group, research analysts forecast that Peloton Interactive will post -0.65 EPS for the current fiscal year.

Insider Activity at Peloton Interactive

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 56,084 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $4.50, for a total transaction of $252,378.00. Following the transaction, the chief financial officer now directly owns 186,466 shares of the company’s stock, valued at $839,097. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other 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 in the company, valued at approximately $865,592. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Elizabeth F. Coddington sold 56,084 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $4.50, for a total transaction of $252,378.00. Following the completion of the transaction, the chief financial officer now owns 186,466 shares in the company, valued at $839,097. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 167,880 shares of company stock valued at $815,767. Insiders own 1.34% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Peloton Interactive by 4.0% in the first quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company’s stock worth $135,212,000 after purchasing an additional 1,215,397 shares during the period. DNB Asset Management AS boosted its stake in Peloton Interactive by 42.4% during the 2nd quarter. DNB Asset Management AS now owns 12,130,553 shares of the company’s stock valued at $40,880,000 after purchasing an additional 3,611,069 shares during the period. DME Capital Management LP acquired a new stake in Peloton Interactive in the 2nd quarter valued at approximately $22,947,000. Clearline Capital LP bought a new position in Peloton Interactive in the 2nd quarter worth approximately $7,527,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Peloton Interactive during the first quarter worth approximately $5,877,000. 77.01% of the stock is currently owned by 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.