Peloton Interactive (NASDAQ:PTON) Hits New 1-Year High – What’s Next?

Peloton Interactive, Inc. (NASDAQ:PTON)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $9.09 and last traded at $9.01, with a volume of 13604586 shares traded. The stock had previously closed at $8.36.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Robert W. Baird lifted their target price on shares of Peloton Interactive from $4.75 to $8.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Canaccord Genuity Group lifted their price objective on shares of Peloton Interactive from $4.00 to $5.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Morgan Stanley raised their target price on Peloton Interactive from $3.50 to $5.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Bank of America raised Peloton Interactive from an “underperform” rating to a “buy” rating and upped their price target for the stock from $3.75 to $9.00 in a report on Monday, November 4th. Finally, Roth Mkm raised their price objective on Peloton Interactive from $5.00 to $6.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Fifteen investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $6.75.

Peloton Interactive Stock Performance

The company has a market cap of $3.46 billion, a PE ratio of -8.47 and a beta of 1.93. The firm’s 50 day moving average is $6.01 and its 200-day moving average is $4.51.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The firm had revenue of $586.00 million during the quarter, compared to analyst estimates of $572.97 million. During the same period in the previous year, the business earned ($0.44) EPS. Peloton Interactive’s quarterly revenue was down 1.6% on a year-over-year basis. On average, analysts predict that Peloton Interactive, Inc. will post -0.38 EPS for the current year.

Insider Transactions at Peloton Interactive

In related news, insider Andrew S. Rendich sold 138,391 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $7.51, for a total value of $1,039,316.41. Following the transaction, the insider now directly owns 287,973 shares in the company, valued at approximately $2,162,677.23. This represents a 32.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nick V. Caldwell bought 31,337 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were acquired at an average cost of $4.25 per share, with a total value of $133,182.25. Following the purchase, the insider now owns 31,337 shares of the company’s stock, valued at $133,182.25. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 556,517 shares of company stock worth $3,768,339 in the last quarter. Company insiders own 1.34% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. PDT Partners LLC lifted its position in shares of Peloton Interactive by 0.7% during the third quarter. PDT Partners LLC now owns 205,573 shares of the company’s stock worth $962,000 after purchasing an additional 1,373 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its holdings in Peloton Interactive by 31.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company’s stock worth $31,000 after buying an additional 1,597 shares in the last quarter. Abundance Wealth Counselors boosted its position in Peloton Interactive by 24.7% in the 2nd quarter. Abundance Wealth Counselors now owns 13,380 shares of the company’s stock valued at $45,000 after buying an additional 2,654 shares during the period. Signaturefd LLC grew its stake in shares of Peloton Interactive by 2.7% in the second quarter. Signaturefd LLC now owns 113,645 shares of the company’s stock worth $384,000 after acquiring an additional 3,032 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of Peloton Interactive by 3.8% during the second quarter. Arizona State Retirement System now owns 92,781 shares of the company’s stock worth $314,000 after acquiring an additional 3,377 shares during the period. Hedge funds and other institutional investors own 77.01% 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, Peloton Tread+, Peloton Guide, and Peloton Row names.