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 released on Thursday morning, ValuEngine reports.

PTON has been the topic of a number of other reports. Argus began coverage on Peloton in a report on Thursday, December 12th. They set a buy rating and a $40.00 target price on the stock. Oppenheimer upped their price objective on Peloton from $29.00 to $38.00 and gave the company an outperform rating in a report on Tuesday, December 10th. Bank of America reaffirmed a buy rating and issued a $36.00 price objective on shares of Peloton in a report on Tuesday, March 17th. BMO Capital Markets started coverage on Peloton in a report on Monday, February 3rd. They set a market perform rating and a $27.00 target price on the stock. Finally, UBS Group increased their target price on Peloton from $29.00 to $38.00 and gave the stock a positive rating in a report on Tuesday, December 10th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Peloton currently has an average rating of Buy and a consensus price target of $36.13.

Shares of Peloton stock traded down $0.38 on Thursday, reaching $28.37. 7,592,873 shares of the company were exchanged, compared to its average volume of 6,677,112. Peloton has a one year low of $17.70 and a one year high of $37.02. The company has a quick ratio of 3.01, a current ratio of 3.47 and a debt-to-equity ratio of 0.32. The firm’s 50-day moving average is $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, topping analysts’ consensus estimates of ($0.32) by $0.12. The business had revenue of $466.30 million for the quarter, compared to analyst estimates of $423.74 million. The firm’s revenue was up 77.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($4.83) earnings per share. On average, sell-side analysts expect that Peloton will post -1 EPS for the current year.

In related news, President William Lynch sold 46,544 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total transaction of $1,256,688.00. Following the completion of the sale, the president now owns 46,544 shares of the company’s stock, valued at $1,256,688. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Harbor Master Investors Hadley sold 1,560,931 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $26.18, for a total value of $40,865,173.58. Following the sale, the insider now directly owns 7,625,678 shares of the company’s stock, valued at approximately $199,640,250.04. The disclosure for this sale can be found here. In the last three months, insiders sold 2,100,954 shares of company stock valued at $54,211,105.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC grew its stake in Peloton by 683.6% during the fourth quarter. Signaturefd LLC now owns 1,293 shares of the company’s stock worth $37,000 after purchasing an additional 1,128 shares during the period. Advisor Group Inc. grew its stake in Peloton by 49.4% during the fourth quarter. Advisor Group Inc. now owns 2,066 shares of the company’s stock worth $59,000 after purchasing an additional 683 shares during the period. PSI Advisors LLC acquired a new stake in Peloton during the fourth quarter worth approximately $113,000. Rockefeller Capital Management L.P. acquired a new stake in Peloton during the fourth quarter worth approximately $143,000. Finally, Ladenburg Thalmann Financial Services Inc. grew its stake in Peloton by 1,591.1% during the fourth 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 during the period. 25.03% of the stock is owned by institutional investors and hedge funds.

Peloton Company Profile

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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