Peloton Interactive’s (PTON) Buy Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of Peloton Interactive (NASDAQ:PTON) in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a $10.00 target price on the stock.

Other equities analysts also recently issued research reports about the stock. Truist Financial set a $11.00 price target on shares of Peloton Interactive in a research note on Thursday, August 7th. UBS Group upgraded Peloton Interactive from a “neutral” rating to a “buy” rating and lifted their target price for the company from $7.50 to $11.00 in a report on Wednesday, July 30th. Telsey Advisory Group upped their price target on Peloton Interactive from $8.00 to $9.00 and gave the stock a “market perform” rating in a research note on Thursday. Macquarie raised their price objective on Peloton Interactive from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Thursday, August 14th. Finally, The Goldman Sachs Group upgraded Peloton Interactive from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $7.00 to $11.50 in a report on Friday, August 8th. Eight investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $9.36.

Peloton Interactive Price Performance

PTON opened at $8.58 on Thursday. Peloton Interactive has a 12 month low of $4.52 and a 12 month high of $10.90. The business has a 50-day moving average of $7.86 and a two-hundred day moving average of $6.97. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of -27.68, a price-to-earnings-growth ratio of 3.30 and a beta of 2.27.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.12. The company had revenue of $606.90 million for the quarter, compared to analysts’ expectations of $580.29 million. During the same quarter in the previous year, the company earned ($0.08) earnings per share. The company’s revenue was down 5.8% on a year-over-year basis. Peloton Interactive has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Peloton Interactive will post -0.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Dion C. Sanders sold 110,753 shares of the company’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $8.05, for a total value of $891,561.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jennifer Cunningham Cotter sold 110,235 shares of the stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $8.05, for a total transaction of $887,391.75. Following the transaction, the insider owned 100,269 shares in the company, valued at $807,165.45. This trade represents a 52.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,851,961 shares of company stock valued at $14,775,168. 1.34% of the stock is owned by insiders.

Hedge Funds Weigh In On Peloton Interactive

A number of hedge funds have recently bought and sold shares of PTON. FNY Investment Advisers LLC acquired a new stake in Peloton Interactive during the first quarter valued at approximately $37,000. Bessemer Group Inc. grew its position in shares of Peloton Interactive by 1,602.6% in the 2nd quarter. Bessemer Group Inc. now owns 5,312 shares of the company’s stock worth $37,000 after acquiring an additional 5,000 shares in the last quarter. MAI Capital Management increased its holdings in shares of Peloton Interactive by 64.6% in the 2nd quarter. MAI Capital Management now owns 5,498 shares of the company’s stock valued at $38,000 after acquiring an additional 2,158 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Peloton Interactive by 40.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 6,503 shares of the company’s stock valued at $41,000 after acquiring an additional 1,864 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Peloton Interactive by 1,082.5% during the 1st quarter. GAMMA Investing LLC now owns 8,159 shares of the company’s stock valued at $52,000 after acquiring an additional 7,469 shares in the last quarter. 77.01% of the stock is currently 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.