Peloton Interactive (NASDAQ:PTON) Shares Gap Up - Should You Buy?

Shares of Peloton Interactive, Inc. (NASDAQ:PTON - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $8.83, but opened at $9.06. Peloton Interactive shares last traded at $9.18, with a volume of 899,567 shares.

Wall Street Analysts Forecast Growth

PTON has been the subject of a number of recent analyst reports. JMP Securities restated a "market perform" rating on shares of Peloton Interactive in a report on Thursday, October 3rd. Needham & Company LLC reaffirmed a "hold" rating on shares of Peloton Interactive in a research note on Friday, November 1st. JPMorgan Chase & Co. increased their target price on shares of Peloton Interactive from $5.00 to $7.00 and gave the stock a "neutral" rating in a research report on Friday, November 1st. Morgan Stanley lifted their price target on shares of Peloton Interactive from $3.50 to $5.00 and gave the company an "equal weight" rating in a research report on Friday, November 1st. Finally, Truist Financial increased their price objective on shares of Peloton Interactive from $6.00 to $10.00 and gave the stock a "hold" rating in a research report on Friday, November 1st. Sixteen analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Peloton Interactive has an average rating of "Hold" and an average target price of $6.97.

Peloton Interactive Stock Up 2.7 %

The firm has a market cap of $3.46 billion, a price-to-earnings ratio of -8.48 and a beta of 1.90. The company has a 50 day moving average of $8.86 and a 200 day moving average of $5.77.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last announced its 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 business had revenue of $586.00 million during the quarter, compared to the consensus estimate of $572.97 million. The firm's quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.44) earnings per share. As a group, equities research analysts expect that Peloton Interactive, Inc. will post -0.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Peloton Interactive news, CEO Chris Bruzzo sold 24,977 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $5.80, for a total transaction of $144,866.60. Following the sale, the chief executive officer now directly owns 149,240 shares of the company's stock, valued at approximately $865,592. This represents a 14.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Saqib Baig sold 36,776 shares of Peloton Interactive stock in a transaction dated Monday, November 18th. The shares were 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 directly owns 137,357 shares of the company's stock, valued at $1,034,298.21. This trade represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 447,798 shares of company stock valued at $3,409,541 in the last ninety days. Corporate insiders own 1.34% of the company's stock.

Institutional Investors Weigh In On Peloton Interactive

Institutional investors and hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Peloton Interactive by 31.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 79,619 shares of the company's stock worth $269,000 after purchasing an additional 19,034 shares during the period. Principal Financial Group Inc. lifted its stake in Peloton Interactive by 30.1% in the second quarter. Principal Financial Group Inc. now owns 44,798 shares of the company's stock valued at $151,000 after buying an additional 10,367 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Peloton Interactive by 4.3% during the second quarter. Commonwealth Equity Services LLC now owns 133,765 shares of the company's stock valued at $452,000 after acquiring an additional 5,463 shares during the period. nVerses Capital LLC grew its position in shares of Peloton Interactive by 809.5% during the second quarter. nVerses Capital LLC now owns 19,100 shares of the company's stock worth $65,000 after acquiring an additional 17,000 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in shares of Peloton Interactive in the 2nd quarter worth about $35,000. 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.