Peloton Interactive (NASDAQ:PTON) Shares Gap Up – What’s Next?

Peloton Interactive, Inc. (NASDAQ:PTON)’s share price gapped up prior to trading 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 traded.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Canaccord Genuity Group raised their target price on Peloton Interactive from $4.00 to $5.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Sanford C. Bernstein boosted their price objective on shares of Peloton Interactive from $4.25 to $6.50 and gave the company a “market perform” rating in a report on Friday, November 1st. Telsey Advisory Group lifted their price objective on Peloton Interactive from $5.00 to $9.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Macquarie boosted their price target on shares of Peloton Interactive from $4.90 to $9.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Morgan Stanley lifted their price target on 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 issued a buy rating to the company. According to MarketBeat.com, Peloton Interactive currently has a consensus rating of “Hold” and a consensus target price of $6.75.

Peloton Interactive Price Performance

The firm’s fifty day moving average is $6.11 and its two-hundred day moving average is $4.55. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of -8.47 and a beta of 1.93.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings results 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 analysts’ expectations of $572.97 million. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.44) EPS. On average, equities analysts forecast that Peloton Interactive, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Karen Boone sold 13,484 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $8.27, for a total value of $111,512.68. Following the transaction, the chief executive officer now directly owns 211,459 shares of the company’s stock, valued at approximately $1,748,765.93. This represents a 5.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Saqib Baig sold 36,776 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $7.53, for a total value of $276,923.28. Following the sale, 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 have sold 506,517 shares of company stock worth $3,524,339 over the last 90 days. 1.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On Peloton Interactive

A number of large investors have recently bought and sold shares of the business. Russell Investments Group Ltd. grew its stake in shares of Peloton Interactive by 25,397.7% in the first quarter. Russell Investments Group Ltd. now owns 393,685 shares of the company’s stock worth $1,687,000 after acquiring an additional 392,141 shares during the last quarter. Select Equity Group L.P. bought a new position in Peloton Interactive in the second quarter worth $1,832,000. Versor Investments LP acquired a new stake in Peloton Interactive during the third quarter worth $415,000. The Manufacturers Life Insurance Company increased its holdings in Peloton Interactive by 253.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 181,589 shares of the company’s stock valued at $614,000 after buying an additional 130,242 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Peloton Interactive by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company’s stock worth $135,212,000 after acquiring an additional 1,215,397 shares during the period. 77.01% of the stock is currently owned by institutional investors.

About Peloton Interactive

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.