Peloton Interactive (NASDAQ:PTON) Sets New 12-Month High – Should You Buy?

Peloton Interactive, Inc. (NASDAQ:PTON) shares reached a new 52-week high on Wednesday . The stock traded as high as $10.10 and last traded at $9.65, with a volume of 15813912 shares. The stock had previously closed at $9.58.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Bank of America upgraded shares of Peloton Interactive from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $3.75 to $9.00 in a research report on Monday, November 4th. JMP Securities reiterated a “market perform” rating on shares of Peloton Interactive in a research report on Thursday, October 3rd. Needham & Company LLC reissued a “hold” rating on shares of Peloton Interactive in a research note on Friday, November 1st. Morgan Stanley increased their target price on shares of Peloton Interactive from $3.50 to $5.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Finally, Sanford C. Bernstein increased their target price on shares of Peloton Interactive from $4.25 to $6.50 and gave the stock a “market perform” rating in a research note 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. Based on data from MarketBeat.com, Peloton Interactive currently has an average rating of “Hold” and a consensus price target of $6.75.

Peloton Interactive Stock Up 0.7 %

The business’s 50-day moving average is $6.40 and its two-hundred day moving average is $4.67. The company has a market capitalization of $3.68 billion, a P/E ratio of -9.02 and a beta of 1.93.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.16) earnings per share 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. During the same quarter in the prior year, the firm earned ($0.44) earnings per share. Peloton Interactive’s quarterly revenue was down 1.6% compared to the same quarter last year. Analysts predict that Peloton Interactive, Inc. will post -0.38 EPS for the current year.

Insider Activity at Peloton Interactive

In related news, CFO Elizabeth F. Coddington sold 186,462 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $7.58, for a total transaction of $1,413,381.96. Following the completion of the sale, the chief financial officer now owns 223,017 shares in the company, valued at approximately $1,690,468.86. This trade represents a 45.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Andrew S. Rendich sold 138,391 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $7.51, for a total transaction of $1,039,316.41. Following the sale, the insider now owns 287,973 shares of the company’s stock, valued at $2,162,677.23. This trade represents a 32.46 % 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. Corporate insiders own 1.34% of the company’s stock.

Institutional Trading of Peloton Interactive

Large investors have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Peloton Interactive during the third quarter worth about $5,724,000. Select Equity Group L.P. purchased a new position in shares of Peloton Interactive in the second quarter worth about $1,832,000. Versor Investments LP purchased a new position in shares of Peloton Interactive in the third quarter worth about $415,000. The Manufacturers Life Insurance Company increased its stake in shares of Peloton Interactive by 253.7% in the second quarter. The Manufacturers Life Insurance Company now owns 181,589 shares of the company’s stock worth $614,000 after purchasing an additional 130,242 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Peloton Interactive by 4.0% in the first quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company’s stock worth $135,212,000 after purchasing an additional 1,215,397 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.