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Investor Confidence Declines As Peloton Interactive Inc. (NASDAQ: PTON) Shares Lose -$0.18

In the latest trading session, 2.43 million Peloton Interactive Inc. (NASDAQ:PTON) shares changed hands as the company’s beta touched 2.02. With the company’s most recent per share price at $4.86 changed hands at -$0.18 or -3.56% at last look, the market valuation stands at $1.77B. PTON’s current price is a discount, trading about -266.87% off its 52-week high of $17.83. The share price had its 52-week low at $4.96, which suggests the last value was -2.06% down since then. When we look at Peloton Interactive Inc.’s average trading volume, we note the 10-day average is 9.57 million shares, with the 3-month average coming to 10.39 million.

Analysts gave the Peloton Interactive Inc. (PTON) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.80. If we narrow down to specifics, the data shows that 2 out of 27 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 17 recommended PTON as a Hold, 6 felt it is a Buy and 0 rated the stock as Underweight. Peloton Interactive Inc.’s EPS for the current quarter is expected to be -$0.36.

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Peloton Interactive Inc. (NASDAQ:PTON) trade information

Instantly PTON was in red as seen in intraday trades today. With action -8.81%, the performance over the past five days has been red. The drop to weekly highs of 5.60 on Friday, 09/15/23 subtracted -3.56% to the stock’s daily price. The company’s shares are showing year-to-date downside of -38.78%, with the 5-day performance at -8.81% in the red. However, in the 30-day time frame, Peloton Interactive Inc. (NASDAQ:PTON) is -29.56% down. Looking at the short shares, we see there were 38.45 million shares sold at short interest cover period of 3.24 days.

The consensus price target for the stock as assigned by Wall Street analysts is $8.14, meaning bulls need an upside of 40.29% from its recent market value. According to analyst projections, PTON’s forecast low is $4.00 with $13.00 as the target high. To hit the forecast high, the stock’s price needs a -167.49% plunge from its current level, while the stock would need to tank 17.7% for it to hit the projected low.

Peloton Interactive Inc. (PTON) estimates and forecasts

Data shows that the Peloton Interactive Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -51.78% over the past 6 months, a 62.09% in annual growth rate that is considerably higher than the industry average of -14.00%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Peloton Interactive Inc. will rise 70.00%, while the growth in revenue is estimated to hit 56.10% for the next quarter.

Consensus estimates given by 18 financial analysts project the company’s revenue in the current quarter to hit an average of $593.77 million. 18 analysts are of the opinion that Peloton Interactive Inc.’s revenue for the quarter ending Dec 2023 will be $762.86 million. The company’s revenue for the corresponding quarters a year ago was $616.5 million. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -3.70%.

The 2023 estimates are for Peloton Interactive Inc. earnings to increase by 58.50%.

PTON Dividends

Peloton Interactive Inc. is expected to release its next quarterly earnings report in October.

Peloton Interactive Inc. (NASDAQ:PTON)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 2.25% of Peloton Interactive Inc. shares while 81.64% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 83.52%. There are 81.64% institutions holding the Peloton Interactive Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 8.66% of the shares, roughly 29.36 million PTON shares worth $225.74 million.

Morgan Stanley holds the second largest percentage of outstanding shares, with 8.62% or 29.21 million shares worth $224.66 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Growth Fund Of America Inc and Vanguard Total Stock Market Index Fund. With 18.32 million shares estimated at $140.87 million under it, the former controlled 5.40% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.86% of the shares, roughly 9.69 million shares worth around $74.52 million.

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