Citigroup Downgrades Peloton Interactive (NASDAQ:PTON) to Neutral

Citigroup lowered shares of Peloton Interactive (NASDAQ:PTON) from a buy rating to a neutral rating in a report issued on Monday morning, Marketbeat Ratings reports. The brokerage currently has $4.00 target price on the stock, down from their previous target price of $8.00.

A number of other research firms have also commented on PTON. BMO Capital Markets lowered their price target on shares of Peloton Interactive from $7.50 to $6.50 and set a market perform rating for the company in a report on Friday, May 3rd. JPMorgan Chase & Co. dropped their target price on shares of Peloton Interactive from $8.00 to $7.00 and set an overweight rating for the company in a report on Friday, May 3rd. Telsey Advisory Group restated a market perform rating and set a $4.00 price target (down previously from $5.00) on shares of Peloton Interactive in a report on Monday, April 29th. The Goldman Sachs Group lowered their price target on Peloton Interactive from $5.75 to $3.50 and set a neutral rating for the company in a research report on Friday, May 3rd. Finally, Robert W. Baird cut their price objective on Peloton Interactive from $5.00 to $3.50 and set a neutral rating on the stock in a research report on Friday, May 3rd. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $5.11.

Peloton Interactive Price Performance

Shares of PTON opened at $4.46 on Monday. Peloton Interactive has a 1 year low of $2.70 and a 1 year high of $9.87. The stock has a 50 day simple moving average of $3.88 and a two-hundred day simple moving average of $4.85. The firm has a market cap of $1.64 billion, a P/E ratio of -2.11 and a beta of 2.01.

Peloton Interactive (NASDAQ:PTON) last released 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 firm had revenue of $717.70 million during the quarter, compared to analysts’ expectations of $720.85 million. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.79) EPS. On average, equities analysts anticipate that Peloton Interactive will post -1.61 earnings per share for the current year.

Insider Buying and Selling at Peloton Interactive

In other news, CFO Elizabeth F. Coddington sold 8,977 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $4.34, for a total value of $38,960.18. Following the sale, the chief financial officer now directly owns 104,428 shares of the company’s stock, valued at approximately $453,217.52. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PTON. Vanguard Group Inc. raised its holdings in shares of Peloton Interactive by 0.8% during the third quarter. Vanguard Group Inc. now owns 29,603,777 shares of the company’s stock valued at $149,499,000 after purchasing an additional 248,314 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Peloton Interactive by 11.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,232,786 shares of the company’s stock worth $11,276,000 after buying an additional 234,729 shares during the last quarter. Clear Harbor Asset Management LLC bought a new stake in shares of Peloton Interactive in the fourth quarter worth $78,000. Mak Capital One LLC purchased a new stake in Peloton Interactive during the third quarter valued at $4,932,000. Finally, TB Alternative Assets Ltd. increased its position in Peloton Interactive by 31.0% during the fourth quarter. TB Alternative Assets Ltd. now owns 1,014,400 shares of the company’s stock valued at $6,178,000 after acquiring an additional 240,300 shares during 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.