Peloton Interactive (NASDAQ:PTON) Upgraded to Buy at Argus

Peloton Interactive (NASDAQ:PTON) was upgraded by stock analysts at Argus from a “hold” rating to a “buy” rating in a report released on Tuesday,Finviz reports. The firm currently has a $15.00 price target on the stock. Argus’ price target would indicate a potential upside of 75.03% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Citigroup decreased their target price 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. Needham & Company LLC restated a “hold” rating on shares of Peloton Interactive in a research note on Thursday, February 6th. The Goldman Sachs Group raised their price target on Peloton Interactive from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Monday. Truist Financial increased their price objective on Peloton Interactive from $6.00 to $10.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, Sanford C. Bernstein boosted their target price on shares of Peloton Interactive from $4.25 to $6.50 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Sixteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $8.38.

Peloton Interactive Price Performance

NASDAQ PTON opened at $8.57 on Tuesday. The company’s 50 day simple moving average is $8.92 and its 200 day simple moving average is $6.68. The company has a market capitalization of $3.27 billion, a P/E ratio of -11.13 and a beta of 1.95. Peloton Interactive has a 12 month low of $2.70 and a 12 month high of $10.90.

Peloton Interactive (NASDAQ:PTON) last issued its earnings results 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). On average, analysts anticipate that Peloton Interactive will post -0.39 earnings per share for the current year.

Insider Buying and Selling

In other Peloton Interactive news, insider Andrew S. Rendich sold 138,391 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $7.51, for a total value of $1,039,316.41. Following the completion of the transaction, the insider now owns 287,973 shares of the company’s stock, valued at $2,162,677.23. This represents a 32.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Karen Boone sold 17,259 shares of Peloton Interactive stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $8.63, for a total value of $148,945.17. Following the sale, the director now directly owns 244,641 shares in the company, valued at $2,111,251.83. The trade was a 6.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 395,813 shares of company stock valued at $3,041,724. 1.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Peloton Interactive

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Gtcr LLC bought a new stake in Peloton Interactive in the third quarter valued at about $65,520,000. Hennessy Advisors Inc. acquired a new stake in Peloton Interactive during the fourth quarter valued at approximately $85,260,000. Two Sigma Advisers LP grew its stake in shares of Peloton Interactive by 2.9% in the 3rd quarter. Two Sigma Advisers LP now owns 7,440,900 shares of the company’s stock valued at $34,823,000 after purchasing an additional 206,500 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Peloton Interactive in the 4th quarter worth approximately $39,992,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Peloton Interactive by 245.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,227,854 shares of the company’s stock valued at $36,782,000 after buying an additional 3,004,757 shares in the last quarter. 77.01% of the stock is 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.