Peloton Interactive (NASDAQ:PTON) Shares Gap Up – Time to Buy?

Peloton Interactive, Inc. (NASDAQ:PTON) shares gapped up before the market opened on Friday . The stock had previously closed at $8.83, but opened at $9.06. Peloton Interactive shares last traded at $9.18, with a volume of 899,567 shares traded.

Analysts Set New Price Targets

A number of brokerages have commented on PTON. Telsey Advisory Group increased their price target on shares of Peloton Interactive from $5.00 to $9.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on Peloton Interactive from $5.00 to $7.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Sanford C. Bernstein upped their price objective on Peloton Interactive from $4.25 to $6.50 and gave the company a “market perform” rating in a research note on Friday, November 1st. Bank of America upgraded Peloton Interactive from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $3.75 to $9.00 in a research note on Monday, November 4th. Finally, Needham & Company LLC restated a “hold” rating on shares of Peloton Interactive in a research note on Friday, November 1st. Sixteen research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Peloton Interactive currently has a consensus rating of “Hold” and a consensus price target of $6.97.

Peloton Interactive Price Performance

The stock has a 50-day moving average of $8.91 and a 200-day moving average of $5.81. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of -8.48 and a beta of 1.90.

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 company had revenue of $586.00 million during the quarter, compared to the consensus estimate of $572.97 million. During the same quarter in the prior year, the firm earned ($0.44) EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities analysts expect that Peloton Interactive, Inc. will post -0.38 EPS for the current fiscal year.

Insider Transactions at Peloton Interactive

In related news, insider Andrew S. Rendich sold 138,391 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now directly owns 287,973 shares in the company, valued at $2,162,677.23. This represents a 32.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Elizabeth F. Coddington sold 186,462 shares of Peloton Interactive stock in a transaction dated Monday, November 18th. The shares were 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 owns 223,017 shares in the company, valued at approximately $1,690,468.86. This represents a 45.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 447,798 shares of company stock valued at $3,409,541. Company insiders own 1.34% of the company’s stock.

Institutional Trading of Peloton Interactive

Hedge funds have recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV bought a new position in shares of Peloton Interactive in the 2nd quarter valued at $27,000. Point72 Asia Singapore Pte. Ltd. raised its position 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 purchasing an additional 1,597 shares during the last quarter. CIBC Asset Management Inc acquired a new stake in shares of Peloton Interactive during the second quarter valued at about $35,000. Schneider Downs Wealth Management Advisors LP bought a new stake in shares of Peloton Interactive during the second quarter worth about $35,000. Finally, Koss Olinger Consulting LLC bought a new position in Peloton Interactive in the 2nd quarter valued at approximately $36,000. Institutional investors and hedge funds 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.