Citigroup cuts Peloton Interactive (NASDAQ:PTON) price target to $28.00



Peloton Interactive (NASDAQ:PTON – Get Note) had its price target reduced by Citigroup analysts from $36.00 to $28.00 in a research note released on Wednesday, reports The Fly. Citigroup’s price target would suggest a potential upside of 117.05% from the company’s current price.

A number of other research companies have also recently published reports on PTON. Deutsche Bank Aktiengesellschaft raised its price target on Peloton Interactive from $42.00 to $51.00 and gave the company a “buy” rating in a Wednesday, February 9 report. Bank of America raised its price target on Peloton Interactive from $40.00 to $42.00 and gave the company a “buy” rating in a Wednesday, February 9 report. Telsey Advisory Group cut its price target on Peloton Interactive from $40.00 to $28.00 and set a “market performance” rating for the company in a Monday, April 18 report. Macquarie reduced its price target on Peloton Interactive from $85.00 to $60.00 and set an “outperform” rating for the company in a Wednesday, February 9 report. Finally, Cowen raised its price target on Peloton Interactive from $40.00 to $50.00 and gave the company an “outperform” rating in a Wednesday, February 9 report. One financial analyst has assigned the stock a sell rating, fifteen have assigned a hold rating and seventeen have assigned the stock a buy rating. According to MarketBeat.com, Peloton Interactive currently has an average rating of “Hold” and an average price target of $51.90.

NASDAQ:PTON shares opened at $12.90 on Wednesday. Peloton Interactive has a 52-week low of $11.25 and a 52-week high of $129.70. The company has a debt ratio of 0.36, a quick ratio of 1.29 and a current ratio of 2.33. The company’s fifty-day moving average is $23.04 and its 200-day moving average is $35.35. The company has a market capitalization of $4.28 billion, a PE ratio of -3.47 and a beta of 1.26.

Peloton Interactive (NASDAQ:PTON – Get Rating) last released its results on Tuesday, May 10. The company reported ($2.27) EPS for the quarter, missing the ($0.83) consensus estimate of ($1.44). Peloton Interactive had a negative net margin of 27.48% and a negative return on equity of 59.67%. The company posted revenue of $964.30 million in the quarter, compared to analyst estimates of $969.81 million. In the same quarter of the previous year, the company posted EPS of ($0.03). The company’s revenue for the quarter was down 23.6% year over year. On average, analysts expect Peloton Interactive to post -3.94 EPS for the current year.

Separately, CAO Allen J. Klingsick sold 2,059 shares of the company in a trade that took place on Thursday, February 17. The stock was sold at an average price of $31.89, for a total value of $65,661.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available via this link. Additionally, COO Mariana Garavaglia sold 2,459 shares of the company in a trade that took place on Thursday, February 17. The shares were sold at an average price of $31.99, for a total value of $78,663.41. The disclosure of this sale can be found here. Insiders sold a total of 10,768 shares of the company valued at $347,387 during the last quarter. 13.18% of the shares are held by insiders.

A number of large investors have recently increased or reduced their holdings in PTON. Viking Global Investors LP increased its position in Peloton Interactive by 1,135.7% during the third quarter. Viking Global Investors LP now owns 6,485,107 shares of the company worth $564,529,000 after acquiring an additional 5,960,315 shares in the last quarter. Baillie Gifford & Co. strengthened its position in Peloton Interactive by 12.1% in the 4th quarter. Baillie Gifford & Co. now owns 31,609,257 shares of the company worth $1,130,347,000 after acquiring 3,420,226 additional shares in the last quarter. Capital World Investors increased its position in Peloton Interactive by 38.5% in the 4th quarter. Capital World Investors now owns 8,713,231 shares of the company worth $311,585,000 after acquiring 2,423,001 additional shares in the last quarter. Bank of Montreal Can increased its position in Peloton Interactive by 1,088.3% during the 4th quarter. Bank of Montreal Can now owns 2,517,052 shares of the company worth $93,687,000 after acquiring an additional 2,305,230 shares in the last quarter. Finally, MFA Wealth Advisors LLC increased its position in Peloton Interactive by 7,835.9% during the 3rd quarter. MFA Wealth Advisors LLC now owns 2,173,884 shares of the company worth $2,371,000 after acquiring 2,146,491 additional shares in the last quarter. 82.42% of the shares are held by hedge funds and other institutional investors.

About Interactive Peloton (Get a rating)

Peloton Interactive, Inc provides interactive fitness products in North America and internationally. It offers touchscreen connected fitness products that stream live and on-demand classes under the names Peloton Bike, Peloton Bike+, Peloton Tread and Peloton Tread+. The company also offers connected fitness subscriptions for various home users and access to various live and on-demand classes, as well as the Peloton Digital app for connected fitness subscribers to provide access to its classes.

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