Peloton Interactive (NASDAQ:PTON) Stock Price Up 6.4% – Time to Buy?

Peloton Interactive, Inc. (NASDAQ:PTON) shares traded up 6.4% during mid-day trading on Thursday . The company traded as high as $10.04 and last traded at $9.96. 3,755,931 shares traded hands during trading, a decline of 77% from the average session volume of 16,065,721 shares. The stock had previously closed at $9.36.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. BMO Capital Markets upped their target price on Peloton Interactive from $6.50 to $8.50 and gave the company a “market perform” rating in a report on Monday, November 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Peloton Interactive in a research note on Friday, November 1st. UBS Group upgraded shares of Peloton Interactive from a “sell” rating to a “neutral” rating and boosted their target price for the company from $2.50 to $10.00 in a report on Friday, December 6th. Telsey Advisory Group increased their price target on Peloton Interactive from $5.00 to $9.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. Finally, Truist Financial boosted their price objective on Peloton Interactive from $6.00 to $10.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Sixteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.97.

Peloton Interactive Price Performance

The business’s fifty day moving average price is $8.62 and its 200-day moving average price is $5.63. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of -8.78 and a beta of 1.90.

Peloton Interactive (NASDAQ:PTON) last released its quarterly 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 analyst estimates of $572.97 million. The business’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.44) EPS. Equities research analysts predict that Peloton Interactive, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Chris Bruzzo sold 24,977 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $5.80, for a total value of $144,866.60. Following the transaction, the chief executive officer now owns 149,240 shares in the company, valued at $865,592. The trade was a 14.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew S. Rendich sold 138,391 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $7.51, for a total value of $1,039,316.41. Following the sale, the insider now directly owns 287,973 shares of the company’s stock, valued at $2,162,677.23. The trade was a 32.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 430,539 shares of company stock worth $3,260,596. 1.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV bought a new stake in shares of Peloton Interactive during the 2nd quarter worth $27,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in Peloton Interactive by 31.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company’s stock valued at $31,000 after acquiring an additional 1,597 shares during the last quarter. CIBC Asset Management Inc bought a new position in shares of Peloton Interactive during the 2nd quarter valued at approximately $35,000. Schneider Downs Wealth Management Advisors LP purchased a new stake in shares of Peloton Interactive during the 2nd quarter worth approximately $35,000. Finally, Koss Olinger Consulting LLC bought a new stake in shares of Peloton Interactive in the 2nd quarter worth approximately $36,000. Hedge funds and other institutional investors own 77.01% of the company’s stock.

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.