JMP Securities Reaffirms “Market Perform” Rating for Peloton Interactive (NASDAQ:PTON)

Peloton Interactive (NASDAQ:PTON)‘s stock had its “market perform” rating reissued by stock analysts at JMP Securities in a report issued on Tuesday, Benzinga reports.

A number of other equities analysts have also recently issued reports on the company. Citigroup cut Peloton Interactive from a “buy” rating to a “neutral” rating and cut their target price for the stock from $8.00 to $4.00 in a report on Monday, May 6th. Sanford C. Bernstein downgraded shares of Peloton Interactive from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $8.00 to $3.80 in a report on Friday, May 3rd. The Goldman Sachs Group decreased their target price on Peloton Interactive from $5.75 to $3.50 and set a “neutral” rating for the company in a research report on Friday, May 3rd. Macquarie reduced their price target on shares of Peloton Interactive from $4.50 to $2.53 and set a “neutral” rating for the company in a research report on Friday, May 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Peloton Interactive in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Peloton Interactive has a consensus rating of “Hold” and a consensus target price of $5.09.

Peloton Interactive Trading Down 0.6 %

Peloton Interactive stock traded down $0.02 during mid-day trading on Tuesday, reaching $3.23. The company had a trading volume of 1,384,350 shares, compared to its average volume of 15,813,598. Peloton Interactive has a fifty-two week low of $2.70 and a fifty-two week high of $9.87. The company has a market cap of $1.20 billion, a P/E ratio of -1.53 and a beta of 2.02. The business has a fifty day simple moving average of $3.57 and a 200 day simple moving average of $4.43.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). The company had revenue of $717.70 million during the quarter, compared to the consensus estimate of $720.85 million. Peloton Interactive’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.79) earnings per share. Research analysts forecast that Peloton Interactive will post -1.62 EPS for the current year.

Insider Buying and Selling at Peloton Interactive

In other news, insider Andrew S. Rendich sold 27,741 shares of Peloton Interactive stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $3.91, for a total value of $108,467.31. Following the sale, the insider now directly owns 113,288 shares in the company, valued at approximately $442,956.08. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Andrew S. Rendich sold 27,741 shares of Peloton Interactive stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $3.91, for a total transaction of $108,467.31. Following the sale, the insider now owns 113,288 shares of the company’s stock, valued at approximately $442,956.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chris Bruzzo sold 14,936 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $3.62, for a total transaction of $54,068.32. Following the transaction, the chief executive officer now owns 38,680 shares in the company, valued at approximately $140,021.60. The disclosure for this sale can be found here. Insiders sold 51,600 shares of company stock valued at $195,372 in the last quarter. Company insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

Institutional investors have recently added to or reduced their stakes in the company. Capital World Investors grew its position in shares of Peloton Interactive by 17.6% in the 4th quarter. Capital World Investors now owns 26,259,325 shares of the company’s stock worth $159,919,000 after buying an additional 3,925,000 shares during the period. Norges Bank bought a new position in shares of Peloton Interactive during the fourth quarter valued at approximately $20,824,000. DNB Asset Management AS lifted its holdings in shares of Peloton Interactive by 31.7% during the fourth quarter. DNB Asset Management AS now owns 8,386,903 shares of the company’s stock valued at $51,076,000 after purchasing an additional 2,020,159 shares during the last quarter. Patient Capital Management LLC boosted its position in shares of Peloton Interactive by 32.7% in the 4th quarter. Patient Capital Management LLC now owns 6,196,285 shares of the company’s stock worth $37,735,000 after purchasing an additional 1,527,471 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Peloton Interactive in the 1st quarter worth approximately $5,877,000. Institutional investors own 77.01% of the company’s stock.

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.