Needham & Company LLC Reiterates Hold Rating for Peloton Interactive (NASDAQ:PTON)

Needham & Company LLC reiterated their hold rating on shares of Peloton Interactive (NASDAQ:PTON) in a report published on Friday, Benzinga reports.

PTON has been the topic of several other reports. BMO Capital Markets reissued a “market perform” rating and set a $6.50 price target on shares of Peloton Interactive in a research report on Tuesday, October 1st. 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. Macquarie reaffirmed a “neutral” rating and issued a $2.53 price target on shares of Peloton Interactive in a report on Thursday, August 22nd. Wolfe Research started coverage on shares of Peloton Interactive in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Peloton Interactive in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.05.

Peloton Interactive Price Performance

NASDAQ PTON opened at $7.25 on Friday. The company’s fifty day moving average price is $5.11 and its two-hundred day moving average price is $4.07. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -6.78 and a beta of 1.92. Peloton Interactive has a 12 month low of $2.70 and a 12 month high of $8.92.

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

Insider Activity at Peloton Interactive

In related news, insider Nick V. Caldwell purchased 31,337 shares of Peloton Interactive stock in a transaction dated Friday, August 23rd. The stock was bought at an average cost of $4.25 per share, with a total value of $133,182.25. Following the purchase, the insider now owns 31,337 shares in the company, valued at approximately $133,182.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Nick V. Caldwell bought 31,337 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average price of $4.25 per share, with a total value of $133,182.25. Following the completion of the acquisition, the insider now directly owns 31,337 shares in the company, valued at approximately $133,182.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Chris Bruzzo sold 24,977 shares of the 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 transaction, the chief executive officer now directly owns 149,240 shares of the company’s stock, valued at approximately $865,592. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 167,880 shares of company stock worth $815,767 in the last 90 days. Corporate insiders own 1.34% of the company’s stock.

Institutional Trading of Peloton Interactive

A number of hedge funds and other institutional investors have recently made changes to their positions in PTON. Mercer Global Advisors Inc. ADV bought a new stake in Peloton Interactive during the second quarter worth approximately $27,000. Skylands Capital LLC acquired a new position in shares of Peloton Interactive in the 2nd quarter worth $30,000. Nisa Investment Advisors LLC raised its position in shares of Peloton Interactive by 1,836.7% during the second quarter. Nisa Investment Advisors LLC now owns 9,490 shares of the company’s stock worth $32,000 after purchasing an additional 9,000 shares during the period. Schneider Downs Wealth Management Advisors LP purchased a new stake in shares of Peloton Interactive during the second quarter valued at $35,000. Finally, CIBC Asset Management Inc acquired a new position in shares of Peloton Interactive in the 2nd quarter valued at $35,000. 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.