Peloton Interactive (NASDAQ:PTON) Hits New 52-Week High - What's Next?

Peloton Interactive, Inc. (NASDAQ:PTON - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $10.40 and last traded at $9.86, with a volume of 17269035 shares trading hands. The stock had previously closed at $9.55.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Needham & Company LLC reissued a "hold" rating on shares of Peloton Interactive in a research report on Friday, November 1st. JPMorgan Chase & Co. boosted their price target on shares of Peloton Interactive from $5.00 to $7.00 and gave the company a "neutral" rating in a research report on Friday, November 1st. Sanford C. Bernstein upped their target price on shares of Peloton Interactive from $4.25 to $6.50 and gave the stock a "market perform" rating in a report on Friday, November 1st. Robert W. Baird upped their target price on shares of Peloton Interactive from $4.75 to $8.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. Finally, Morgan Stanley upped their target price on shares of Peloton Interactive from $3.50 to $5.00 and gave the stock an "equal weight" rating in a report on Friday, November 1st. Fifteen investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Peloton Interactive currently has an average rating of "Hold" and an average price target of $6.75.

Peloton Interactive Price Performance

The firm's 50-day moving average is $6.91 and its two-hundred day moving average is $4.87. The company has a market cap of $3.64 billion, a P/E ratio of -9.21 and a beta of 1.90.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The business had revenue of $586.00 million for the quarter, compared to the consensus estimate of $572.97 million. The firm's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.44) earnings per share. As a group, sell-side analysts expect that Peloton Interactive, Inc. will post -0.38 EPS for the current year.

Insider Activity

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 36,819 shares of the business's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $4.74, for a total value of $174,522.06. Following the completion of the transaction, the chief financial officer now directly owns 171,466 shares in the company, valued at approximately $812,748.84. The trade was a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Saqib Baig sold 36,776 shares of the business's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $7.53, for a total transaction of $276,923.28. Following the completion of the transaction, the chief accounting officer now owns 137,357 shares of the company's stock, valued at $1,034,298.21. This represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 450,433 shares of company stock valued at $3,271,961. 1.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Peloton Interactive

Hedge funds have recently modified their holdings of the stock. Gtcr LLC purchased a new stake in Peloton Interactive in the 3rd quarter worth approximately $65,520,000. DME Capital Management LP purchased a new position in shares of Peloton Interactive during the 2nd quarter valued at approximately $22,947,000. Clearline Capital LP purchased a new position in shares of Peloton Interactive during the 2nd quarter valued at approximately $7,527,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Peloton Interactive during the 3rd quarter valued at approximately $8,363,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Peloton Interactive in the 3rd quarter valued at $5,724,000. Institutional investors and hedge funds 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.