Peloton Interactive (NASDAQ:PTON) Rating Increased to Buy at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Peloton Interactive (NASDAQ:PTON) from a hold rating to a buy rating in a research note published on Friday, MarketBeat Ratings reports. They currently have $10.00 price target on the stock.

Several other research analysts also recently commented on the company. Macquarie restated a “neutral” rating and set a $9.00 price objective on shares of Peloton Interactive in a report on Monday, February 10th. Telsey Advisory Group restated a “market perform” rating and set a $11.00 price target on shares of Peloton Interactive in a research note on Monday, February 3rd. Citigroup lowered their price objective on shares of Peloton Interactive from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. The Goldman Sachs Group raised their target price on shares of Peloton Interactive from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Peloton Interactive in a research report on Thursday, February 6th. Fifteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Peloton Interactive currently has a consensus rating of “Hold” and a consensus price target of $8.69.

Peloton Interactive Trading Up 16.1 %

NASDAQ:PTON opened at $7.05 on Friday. The company has a market cap of $2.75 billion, a price-to-earnings ratio of -9.16 and a beta of 1.95. Peloton Interactive has a twelve month low of $2.70 and a twelve month high of $10.90. The stock has a fifty day simple moving average of $8.12 and a 200-day simple moving average of $7.41.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). As a group, equities research analysts predict that Peloton Interactive will post -0.36 EPS for the current fiscal year.

Insider Activity

In other Peloton Interactive news, insider Andrew S. Rendich sold 121,883 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $9.54, for a total transaction of $1,162,763.82. Following the transaction, the insider now owns 404,188 shares in the company, valued at approximately $3,855,953.52. This represents a 23.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Elizabeth F. Coddington sold 170,819 shares of Peloton Interactive stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $9.62, for a total transaction of $1,643,278.78. Following the sale, the chief financial officer now owns 275,212 shares of the company’s stock, valued at $2,647,539.44. The trade was a 38.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 584,719 shares of company stock worth $4,958,301 over the last 90 days. 1.34% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PTON. Townsquare Capital LLC boosted its position in Peloton Interactive by 6.5% in the fourth quarter. Townsquare Capital LLC now owns 19,280 shares of the company’s stock valued at $168,000 after buying an additional 1,172 shares during the last quarter. PDT Partners LLC lifted its stake in Peloton Interactive by 0.7% during the 3rd quarter. PDT Partners LLC now owns 205,573 shares of the company’s stock valued at $962,000 after acquiring an additional 1,373 shares during the period. Comerica Bank boosted its holdings in shares of Peloton Interactive by 29.1% in the 4th quarter. Comerica Bank now owns 6,164 shares of the company’s stock valued at $54,000 after acquiring an additional 1,389 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of Peloton Interactive by 9.1% in the fourth quarter. Cetera Investment Advisers now owns 17,144 shares of the company’s stock worth $149,000 after acquiring an additional 1,432 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of Peloton Interactive by 3.8% during the fourth quarter. Victory Capital Management Inc. now owns 42,084 shares of the company’s stock worth $366,000 after purchasing an additional 1,534 shares during the last quarter. 77.01% of the stock is owned by institutional investors and hedge funds.

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.