Morgan Stanley Forecasts Strong Price Appreciation for Peloton Interactive (NASDAQ:PTON) Stock

Peloton Interactive (NASDAQ:PTON) had its price objective lifted by Morgan Stanley from $3.50 to $5.00 in a research report report published on Friday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other research firms have also recently weighed in on PTON. TD Cowen lifted their price target on Peloton Interactive from $3.00 to $4.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Sanford C. Bernstein lifted their price objective 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 lifted their price objective 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. Canaccord Genuity Group boosted their price target on shares of Peloton Interactive from $4.00 to $5.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Finally, BMO Capital Markets restated a “market perform” rating and set a $6.50 price target on shares of Peloton Interactive in a report on Tuesday, October 1st. Sixteen investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.57.

Peloton Interactive Stock Performance

Shares of Peloton Interactive stock opened at $7.51 on Friday. The business has a 50-day moving average of $5.17 and a 200-day moving average of $4.10. Peloton Interactive has a 1-year low of $2.70 and a 1-year 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. During the same period last year, the business earned ($0.44) EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, analysts predict that Peloton Interactive will post -0.65 EPS for the current fiscal year.

Insider Activity

In other news, CAO Saqib Baig sold 50,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $4.88, for a total transaction of $244,000.00. Following the completion of the transaction, the chief accounting officer now owns 87,014 shares of the company’s stock, valued at approximately $424,628.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Saqib Baig sold 50,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $4.88, for a total value of $244,000.00. Following the sale, the chief accounting officer now owns 87,014 shares of the company’s stock, valued at $424,628.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Karen Boone sold 13,484 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $8.27, for a total transaction of $111,512.68. Following the completion of the sale, the chief executive officer now directly owns 211,459 shares in the company, valued at approximately $1,748,765.93. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 194,888 shares of company stock valued at $1,038,717. Insiders own 1.34% of the company’s stock.

Institutional Trading of Peloton Interactive

Several hedge funds have recently modified their holdings of the stock. Abundance Wealth Counselors lifted its holdings in Peloton Interactive by 24.7% in the second quarter. Abundance Wealth Counselors now owns 13,380 shares of the company’s stock valued at $45,000 after buying an additional 2,654 shares during the period. Signaturefd LLC increased its position in shares of Peloton Interactive by 2.7% during the second quarter. Signaturefd LLC now owns 113,645 shares of the company’s stock worth $384,000 after acquiring an additional 3,032 shares in the last quarter. Arizona State Retirement System increased its position in shares of Peloton Interactive by 3.8% during the second quarter. Arizona State Retirement System now owns 92,781 shares of the company’s stock worth $314,000 after acquiring an additional 3,377 shares in the last quarter. Kohmann Bosshard Financial Services LLC increased its position in shares of Peloton Interactive by 50.0% during the third quarter. Kohmann Bosshard Financial Services LLC now owns 15,000 shares of the company’s stock worth $70,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its position in shares of Peloton Interactive by 4.3% during the second quarter. Commonwealth Equity Services LLC now owns 133,765 shares of the company’s stock worth $452,000 after acquiring an additional 5,463 shares in the last quarter. 77.01% of the stock is owned by institutional investors.

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.