Peloton (NASDAQ:PTON) Lifted to Buy at ValuEngine

ValuEngine upgraded shares of Peloton (NASDAQ:PTON) from a hold rating to a buy rating in a research report sent to investors on Thursday morning, ValuEngine reports.

A number of other research firms have also recently weighed in on PTON. Raymond James restated an outperform rating and issued a $36.00 price target (up previously from $32.00) on shares of Peloton in a report on Wednesday, January 29th. Needham & Company LLC increased their price target on Peloton from $30.00 to $40.00 and gave the stock a buy rating in a research note on Thursday, February 6th. SunTrust Banks reaffirmed a buy rating and issued a $37.00 target price on shares of Peloton in a research report on Thursday, February 6th. MKM Partners increased their price target on Peloton from $26.00 to $28.00 and gave the company a neutral rating in a report on Thursday, February 6th. Finally, Oppenheimer raised their target price on Peloton from $29.00 to $38.00 and gave the company an outperform rating in a research note on Tuesday, December 10th. Four investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Peloton presently has an average rating of Buy and a consensus price target of $36.13.

PTON traded down $0.38 on Thursday, hitting $28.37. 7,592,873 shares of the company were exchanged, compared to its average volume of 6,677,112. Peloton has a twelve month low of $17.70 and a twelve month high of $37.02. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.47 and a quick ratio of 3.01. The business has a 50-day moving average price of $25.52.

Peloton (NASDAQ:PTON) last posted its earnings results on Wednesday, February 5th. The company reported ($0.20) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.32) by $0.12. The firm had revenue of $466.30 million during the quarter, compared to analysts’ expectations of $423.74 million. The firm’s revenue for the quarter was up 77.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($4.83) earnings per share. On average, research analysts anticipate that Peloton will post -1 earnings per share for the current year.

In other news, President William Lynch sold 59,268 shares of the firm’s stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $24.41, for a total transaction of $1,446,731.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Harbor Master Investors Hadley sold 434,211 shares of the firm’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $24.51, for a total transaction of $10,642,511.61. Following the sale, the insider now owns 5,493,467 shares of the company’s stock, valued at approximately $134,644,876.17. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,100,954 shares of company stock worth $54,211,105.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Signaturefd LLC lifted its stake in shares of Peloton by 683.6% during the 4th quarter. Signaturefd LLC now owns 1,293 shares of the company’s stock worth $37,000 after buying an additional 1,128 shares during the last quarter. Advisor Group Inc. lifted its stake in shares of Peloton by 49.4% during the 4th quarter. Advisor Group Inc. now owns 2,066 shares of the company’s stock worth $59,000 after buying an additional 683 shares during the last quarter. PSI Advisors LLC acquired a new stake in shares of Peloton during the 4th quarter worth about $113,000. Rockefeller Capital Management L.P. acquired a new stake in Peloton in the 4th quarter worth about $143,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in Peloton by 1,591.1% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,344 shares of the company’s stock worth $152,000 after purchasing an additional 5,028 shares in the last quarter. Institutional investors own 25.03% of the company’s stock.

About Peloton

Peloton Interactive, Inc provides interactive fitness products in North America. It offers connected fitness products, such as the Peloton Bike and the Peloton Tread, which include touchscreen that streams live and on-demand classes. The company also provides connected fitness subscriptions for multiple household users, and access to all live and on-demand classes, as well as Peloton Digital app for connected fitness subscribers to provide access to its classes.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Peloton (NASDAQ:PTON)

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