William Blair Brokers Cuts Peloton Interactive, Inc. Earnings Estimates (NASDAQ:PTON)
Peloton Interactive, Inc. (NASDAQ:PTON – Get Rating) – Equity research analysts William Blair cut their fourth quarter 2022 earnings estimates for Peloton Interactive in a research report released Tuesday, May 10. William Blair analyst R. Schackart now expects the company to post earnings of ($0.60) per share for the quarter, down from his previous forecast of ($0.35). William Blair also released estimates for Peloton Interactive Q1 2023 earnings at ($0.48) EPS, Q2 2023 earnings at ($0.50) EPS, Q3 2023 earnings at ($0.50) $) EPS, fourth quarter 2023 earnings at ($0.90) EPS, fiscal year 2023 earnings at ($1.90) EPS and fiscal year 2024 earnings at ($1.46) EPS.
Several other research analysts have also recently commented on PTON. Needham & Company LLC lowered its target price on Peloton Interactive from $50.00 to $25.00 in a research note on Wednesday. Telsey Advisory Group lowered 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 research note. Roth Capital reaffirmed a “buy” rating on shares of Peloton Interactive in a research note on Wednesday. MKM Partners lowered its price target on Peloton Interactive from $35.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Citigroup lowered its price target on Peloton Interactive from $36.00 to $28.00 in a research note on Wednesday. One analyst gave the stock a sell rating, fifteen gave the stock a hold rating and seventeen gave the stock a buy rating. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $45.81.
NASDAQ PTON shares opened at $14.12 on Friday. The company has a current ratio of 2.33, a quick ratio of 1.29 and a debt ratio of 0.36. The company has a market capitalization of $4.68 billion, a price-earnings ratio of -2.29 and a beta of 1.26. Peloton Interactive has a 12 month minimum of $11.25 and a 12 month maximum of $129.70. The stock has a 50-day moving average price of $22.80 and a 200-day moving average price of $35.19.
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). The company posted revenue of $964.30 million for the quarter, versus analyst estimates of $969.81 million. Peloton Interactive had a negative return on equity of 77.49% and a negative net margin of 49.10%. The company’s revenues were down 23.6% from the same quarter last year. During the same period of the previous year, the company posted ($0.03) EPS.
Several institutional investors have recently changed their positions in PTON. Viking Global Investors LP increased its position in shares of Peloton Interactive by 1,135.7% during the 3rd quarter. Viking Global Investors LP now owns 6,485,107 shares of the company valued at $564,529,000 after purchasing an additional 5,960,315 shares in the last quarter. Baillie Gifford & Co. increased its stake 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 stake in Peloton Interactive by 38.5% in the fourth 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 stake in Peloton Interactive by 1,088.3% in Q4. 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 stake in Peloton Interactive by 7,835.9% in the third 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.
In other news from Peloton Interactive, CAO Allen J. Klingsick sold 2,059 shares of the company in a trade on Thursday, February 17. The stock was sold at an average price of $31.89, for a total transaction of $65,661.51. The sale was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Additionally, COO Mariana Garavaglia sold 2,459 shares of the company in a trade 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. In the past 90 days, insiders have sold 10,768 shares of the company worth $347,387. Insiders of the company hold 13.18% of the shares of the company.
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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