Peloton Interactive (NASDAQ:PTON) Hits New 52-Week High – What’s Next?

Peloton Interactive, Inc. (NASDAQ:PTON)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $10.40 and last traded at $9.86, with a volume of 17269035 shares trading hands. The stock had previously closed at $9.55.

Analysts Set New Price Targets

Several brokerages recently issued reports on PTON. JMP Securities reissued a “market perform” rating on shares of Peloton Interactive in a research note on Thursday, October 3rd. Morgan Stanley increased their price target on Peloton Interactive from $3.50 to $5.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. lifted their price objective on Peloton Interactive from $5.00 to $7.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Macquarie increased their target price 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, BMO Capital Markets raised their target price on shares of Peloton Interactive from $6.50 to $8.50 and gave the company a “market perform” rating in a research report on Monday, November 4th. Fifteen research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Peloton Interactive presently has a consensus rating of “Hold” and a consensus target price of $6.75.

Peloton Interactive Stock Up 3.2 %

The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of -9.21 and a beta of 1.90. The company’s 50 day moving average price is $6.91 and its 200 day moving average price is $4.87.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.16) 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 business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.44) earnings per share. As a group, analysts expect that Peloton Interactive, Inc. will post -0.38 earnings per share for the current year.

Insiders Place Their Bets

In other Peloton Interactive news, CAO Saqib Baig sold 36,776 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $7.53, for a total transaction of $276,923.28. Following the sale, the chief accounting officer now directly owns 137,357 shares of the company’s stock, valued at approximately $1,034,298.21. This trade represents a 21.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew S. Rendich sold 138,391 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 287,973 shares of the company’s stock, valued at approximately $2,162,677.23. This trade represents a 32.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 450,433 shares of company stock valued at $3,271,961. 1.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Gtcr LLC purchased a new stake in Peloton Interactive in the 3rd quarter worth approximately $65,520,000. DME Capital Management LP purchased a new stake in Peloton Interactive during the second quarter worth $22,947,000. Clearline Capital LP purchased a new stake in Peloton Interactive during the second quarter worth $7,527,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Peloton Interactive during the third quarter valued at $8,363,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Peloton Interactive in the third quarter worth about $5,724,000. 77.01% of the stock is currently owned by hedge funds and other 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.