Peloton (NASDAQ:PTON) Price Target Raised to $38.00

Peloton (NASDAQ:PTON) had its price objective lifted by equities research analysts at Oppenheimer from $29.00 to $38.00 in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price objective indicates a potential upside of 11.02% from the stock’s previous close.

PTON has been the topic of several other reports. UBS Group lifted their target price on Peloton from $29.00 to $38.00 and gave the stock a “positive” rating in a report on Tuesday. They noted that the move was a valuation call. JMP Securities boosted their target price on Peloton from $34.00 to $38.00 and gave the company a “market outperform” rating in a research note on Thursday, December 5th. Canaccord Genuity initiated coverage on Peloton in a report on Monday, October 21st. They issued a “buy” rating and a $33.00 price target for the company. Telsey Advisory Group initiated coverage on Peloton in a research report on Monday, October 21st. They set an “outperform” rating and a $29.00 price target on the stock. Finally, Goldman Sachs Group began coverage on Peloton in a research report on Monday, October 21st. They set a “buy” rating and a $37.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $33.50.

Shares of NASDAQ PTON opened at $34.23 on Tuesday. The stock’s fifty day moving average price is $24.39. Peloton has a twelve month low of $20.46 and a twelve month high of $37.02. The company has a current ratio of 5.34, a quick ratio of 4.71 and a debt-to-equity ratio of 0.31.

Peloton (NASDAQ:PTON) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($1.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.89). The firm had revenue of $228.00 million for the quarter, compared to the consensus estimate of $199.35 million. Peloton’s revenue for the quarter was up 103.4% on a year-over-year basis. As a group, equities analysts anticipate that Peloton will post -1.16 earnings per share for the current fiscal year.

In other news, Director Howard C. Draft purchased 68,965 shares of Peloton stock in a transaction on Thursday, September 26th. The stock was purchased at an average price of $29.00 per share, with a total value of $1,999,985.00. Also, insider X Cycle L.P. Tcv purchased 1,724,137 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were acquired at an average cost of $29.00 per share, with a total value of $49,999,973.00.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Alpine Group USVI LLC bought a new stake in shares of Peloton in the third quarter worth $648,000. St. Johns Investment Management Company LLC acquired a new position in Peloton during the third quarter worth $35,000. Flagship Harbor Advisors LLC bought a new position in Peloton in the third quarter valued at $26,000. FNY Investment Advisers LLC bought a new position in Peloton in the third quarter valued at $112,000. Finally, Sageworth Trust Co acquired a new stake in Peloton in the 3rd quarter valued at $25,000. Institutional investors own 21.46% 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.

See Also: What is a stock split?

Analyst Recommendations for Peloton (NASDAQ:PTON)

Receive News & Ratings for Peloton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Peloton and related companies with MarketBeat.com's FREE daily email newsletter.