Peloton Interactive (NASDAQ:PTON) Given New $7.00 Price Target at JPMorgan Chase & Co.

Peloton Interactive (NASDAQ:PTON) had its target price reduced by JPMorgan Chase & Co. from $8.00 to $7.00 in a research note released on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also recently weighed in on PTON. Bank of America dropped their price target on shares of Peloton Interactive from $4.00 to $3.25 and set an underperform rating on the stock in a research note on Monday, April 29th. Sanford C. Bernstein downgraded Peloton Interactive from an outperform rating to a market perform rating and lowered their target price for the company from $8.00 to $3.80 in a research report on Friday. Robert W. Baird lowered their target price on Peloton Interactive from $5.00 to $3.50 and set a neutral rating on the stock in a research report on Friday. Truist Financial lowered their target price on Peloton Interactive from $7.00 to $6.00 and set a hold rating on the stock in a research report on Friday, February 2nd. Finally, Macquarie lowered their target price on Peloton Interactive from $4.50 to $2.53 and set a neutral rating on the stock in a research report on Friday. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $6.15.

Peloton Interactive Trading Up 9.4 %

NASDAQ:PTON traded up $0.29 during trading hours on Friday, reaching $3.43. The company had a trading volume of 34,797,791 shares, compared to its average volume of 14,415,963. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -1.62 and a beta of 2.01. The firm’s 50 day moving average price is $3.93 and its 200-day moving average price is $4.87. Peloton Interactive has a 52 week low of $2.70 and a 52 week high of $9.87.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.06). The company had revenue of $717.70 million during the quarter, compared to the consensus estimate of $720.85 million. During the same period in the prior year, the firm earned ($0.79) earnings per share. Peloton Interactive’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, analysts forecast that Peloton Interactive will post -1.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Elizabeth F. Coddington sold 8,977 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $4.34, for a total transaction of $38,960.18. Following the sale, the chief financial officer now owns 104,428 shares in the company, valued at approximately $453,217.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Peloton Interactive

Several hedge funds have recently bought and sold shares of PTON. Johnson & White Wealth Management LLC bought a new position in shares of Peloton Interactive during the 1st quarter worth $43,000. Abundance Wealth Counselors bought a new position in shares of Peloton Interactive during the 1st quarter worth $46,000. Rakuten Securities Inc. bought a new position in shares of Peloton Interactive during the 4th quarter worth $47,000. Carl P. Sherr & Co. LLC bought a new position in shares of Peloton Interactive during the 3rd quarter worth $55,000. Finally, Clear Harbor Asset Management LLC bought a new position in shares of Peloton Interactive during the 4th quarter worth $78,000. Institutional investors own 77.01% of the company’s stock.

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.