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

Peloton Interactive, Inc. (NASDAQ:PTON)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $9.06, but opened at $9.40. Peloton Interactive shares last traded at $9.43, with a volume of 4,511,642 shares.

Wall Street Analysts Forecast Growth

PTON has been the subject of a number of analyst reports. Truist Financial lifted their target price on shares of Peloton Interactive from $6.00 to $10.00 and gave the stock a “hold” rating in a report on Friday, November 1st. JPMorgan Chase & Co. boosted their price objective on Peloton Interactive from $5.00 to $7.00 and gave the company a “neutral” 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 objective for the stock from $3.75 to $9.00 in a research report on Monday, November 4th. Roth Mkm raised their price target on Peloton Interactive from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, TD Cowen increased their price target on shares of Peloton Interactive from $3.00 to $4.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. Fifteen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $6.75.

Peloton Interactive Stock Performance

The company has a market cap of $3.58 billion, a P/E ratio of -8.47 and a beta of 1.93. The business’s fifty day moving average is $6.11 and its two-hundred day moving average is $4.55.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The company had revenue of $586.00 million for 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 period last year, the business earned ($0.44) earnings per share. Analysts expect that Peloton Interactive, Inc. will post -0.38 EPS for the current fiscal year.

Insider Activity

In related news, CFO Elizabeth F. Coddington sold 186,462 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $7.58, for a total value of $1,413,381.96. Following the completion of the transaction, the chief financial officer now directly owns 223,017 shares of the company’s stock, valued at approximately $1,690,468.86. This represents a 45.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Karen Boone sold 13,484 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $8.27, for a total transaction of $111,512.68. Following the transaction, the chief executive officer now directly owns 211,459 shares in the company, valued at approximately $1,748,765.93. The trade was a 5.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 506,517 shares of company stock valued at $3,524,339 over the last ninety days. 1.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PTON. XTX Topco Ltd lifted its stake in Peloton Interactive by 445.2% during the 3rd quarter. XTX Topco Ltd now owns 350,570 shares of the company’s stock worth $1,641,000 after acquiring an additional 286,268 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of Peloton Interactive by 647.5% in the third quarter. National Bank of Canada FI now owns 28,749 shares of the company’s stock valued at $135,000 after purchasing an additional 24,903 shares during the period. Two Sigma Advisers LP grew its holdings in shares of Peloton Interactive by 2.9% in the third quarter. Two Sigma Advisers LP now owns 7,440,900 shares of the company’s stock valued at $34,823,000 after purchasing an additional 206,500 shares in the last quarter. Soros Fund Management LLC acquired a new stake in Peloton Interactive during the 3rd quarter worth approximately $998,000. Finally, Prentice Capital Management LP lifted its holdings in Peloton Interactive by 58.8% during the 3rd quarter. Prentice Capital Management LP now owns 1,221,973 shares of the company’s stock worth $5,719,000 after buying an additional 452,604 shares in the last quarter. 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.