Peloton Interactive (NASDAQ:PTON) Shares Gap Down After Analyst Downgrade

Posted by Defense World Staff on Oct 7th, 2023

Peloton Interactive, Inc. (NASDAQ:PTON – Get Free Report) shares gapped down before the market opened on Friday after Evercore ISI lowered their price target on the stock from $7.00 to $6.00. The stock had previously closed at $5.12, but opened at $4.92. Evercore ISI currently has an in-line rating on the stock. Peloton Interactive shares last traded at $4.99, with a volume of 1,031,333 shares traded.

PTON has been the subject of several other research reports. Citigroup reduced their price target on shares of Peloton Interactive from $17.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, August 25th. BMO Capital Markets cut their price objective on shares of Peloton Interactive from $9.50 to $8.00 and set a “market perform” rating for the company in a report on Thursday, August 24th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Peloton Interactive from $20.00 to $13.00 and set a “buy” rating for the company in a report on Monday, September 11th. Bank of America downgraded shares of Peloton Interactive from a “buy” rating to a “neutral” rating and cut their price objective for the company from $13.00 to $6.50 in a report on Wednesday, August 23rd. Finally, Macquarie downgraded shares of Peloton Interactive from an “outperform” rating to a “neutral” rating and set a $7.00 price objective for the company. in a report on Wednesday, August 30th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $10.58.

View Our Latest Stock Analysis on Peloton Interactive

Insiders Place Their Bets

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 10,215 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $5.12, for a total transaction of $52,300.80. Following the sale, the chief financial officer now directly owns 32,441 shares in the company, valued at approximately $166,097.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Thomas Cortese sold 14,135 shares of Peloton Interactive stock in a transaction on Friday, August 18th. The shares were sold at an average price of $6.98, for a total transaction of $98,662.30. Following the sale, the insider now directly owns 14,251 shares in the company, valued at approximately $99,471.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Elizabeth F. Coddington sold 10,215 shares of Peloton Interactive stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $5.12, for a total transaction of $52,300.80. Following the sale, the chief financial officer now owns 32,441 shares in the company, valued at $166,097.92. The disclosure for this sale can be found here. Insiders have sold a total of 34,768 shares of company stock worth $243,892 in the last ninety days. 2.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Covestor Ltd boosted its holdings in shares of Peloton Interactive by 1,054.2% in the first quarter. Covestor Ltd now owns 1,385 shares of the company’s stock valued at $37,000 after acquiring an additional 1,265 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of Peloton Interactive in the first quarter valued at about $4,813,000. Banque Cantonale Vaudoise boosted its holdings in Peloton Interactive by 176.2% during the second quarter. Banque Cantonale Vaudoise now owns 4,184 shares of the company’s stock worth $32,000 after buying an additional 2,669 shares in the last quarter. ICA Group Wealth Management LLC purchased a new stake in Peloton Interactive during the fourth quarter worth about $39,000. Finally, Headlands Technologies LLC purchased a new stake in Peloton Interactive during the second quarter worth about $40,000. 79.96% of the stock is owned by hedge funds and other institutional investors.

Peloton Interactive Stock Down 0.2 %

The stock has a market cap of $1.82 billion, a PE ratio of -1.40 and a beta of 2.03. The business’s fifty day moving average is $6.29 and its 200 day moving average is $7.86.

Peloton Interactive (NASDAQ:PTON – Get Free Report) last released its quarterly earnings data on Wednesday, August 23rd. The company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.28). The company had revenue of $642.10 million for the quarter, compared to analysts’ expectations of $641.02 million. Peloton Interactive had a negative return on equity of 686.29% and a negative net margin of 45.05%. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.32) EPS. As a group, analysts predict that Peloton Interactive, Inc. will post -1.4 EPS for the current year.

Peloton Interactive Company Profile

(Get Free Report)

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.