Brokers Issue Forecasts for Peloton Interactive, Inc.'s Q2 2023 Earnings (NASDAQ:PTON)

Peloton Interactive, Inc. (NASDAQ:PTON - Get Rating) - Stock analysts at William Blair upped their Q2 2023 EPS estimates for Peloton Interactive in a research report issued to clients and investors on Wednesday, January 4th. William Blair analyst R. Schackart now anticipates that the company will earn ($0.84) per share for the quarter, up from their previous forecast of ($0.85). The consensus estimate for Peloton Interactive's current full-year earnings is ($2.67) per share. William Blair also issued estimates for Peloton Interactive's Q3 2023 earnings at ($0.79) EPS, Q4 2023 earnings at ($0.65) EPS, FY2023 earnings at ($3.49) EPS, Q1 2024 earnings at ($0.48) EPS, Q2 2024 earnings at ($0.55) EPS, Q3 2024 earnings at ($0.63) EPS, Q4 2024 earnings at ($0.62) EPS and FY2024 earnings at ($2.28) EPS.

Peloton Interactive (NASDAQ:PTON - Get Rating) last posted its quarterly earnings results on Thursday, November 3rd. The company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by ($0.05). Peloton Interactive had a negative return on equity of 116.53% and a negative net margin of 83.97%. The firm had revenue of $616.50 million for the quarter, compared to analysts' expectations of $638.73 million.

Other research analysts have also recently issued reports about the stock. Telsey Advisory Group dropped their target price on shares of Peloton Interactive from $11.00 to $9.00 and set a "market perform" rating for the company in a report on Friday, October 28th. JMP Securities dropped their price objective on shares of Peloton Interactive from $25.00 to $16.00 and set a "market outperform" rating for the company in a research note on Friday, November 4th. Credit Suisse Group dropped their price objective on shares of Peloton Interactive from $12.00 to $10.00 and set a "neutral" rating for the company in a research note on Friday, November 4th. BMO Capital Markets dropped their price objective on shares of Peloton Interactive from $8.50 to $8.00 and set an "underperform" rating for the company in a research note on Friday, November 4th. Finally, Cowen cut shares of Peloton Interactive from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $14.00 to $12.00 in a research note on Monday, November 21st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $19.36.

Peloton Interactive Trading Down 2.9 %

Shares of Peloton Interactive stock opened at $8.58 on Friday. Peloton Interactive has a 12-month low of $6.66 and a 12-month high of $40.35. The company has a current ratio of 2.47, a quick ratio of 1.40 and a debt-to-equity ratio of 6.48. The stock has a market cap of $2.92 billion, a PE ratio of -1.00 and a beta of 1.77. The company has a 50-day moving average of $10.09 and a two-hundred day moving average of $9.83.

Hedge Funds Weigh In On Peloton Interactive

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Coatue Management LLC increased its stake in Peloton Interactive by 1,872.8% during the 1st quarter. Coatue Management LLC now owns 8,614,159 shares of the company's stock worth $227,586,000 after buying an additional 8,177,503 shares during the period. Darsana Capital Partners LP purchased a new stake in Peloton Interactive during the 2nd quarter worth $68,850,000. Wellington Management Group LLP purchased a new stake in Peloton Interactive during the 1st quarter worth $143,575,000. Eminence Capital LP bought a new stake in shares of Peloton Interactive in the 3rd quarter worth about $32,041,000. Finally, Dragoneer Investment Group LLC increased its position in shares of Peloton Interactive by 79.5% in the 1st quarter. Dragoneer Investment Group LLC now owns 8,672,304 shares of the company's stock worth $229,122,000 after purchasing an additional 3,840,044 shares during the last quarter. Institutional investors and hedge funds own 74.43% of the company's stock.

Peloton Interactive Company Profile

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, and Peloton Tread+ names. It also provides connected fitness subscriptions for various household users, and access to various 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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