Peloton Interactive (NASDAQ:PTON) Sets New 1-Year High – Time to Buy?

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PTON shares. Roth Mkm raised their target price on shares of Peloton Interactive from $5.00 to $6.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Telsey Advisory Group raised their price objective on shares of Peloton Interactive from $5.00 to $9.00 and gave the stock a “market perform” rating in a research note on Friday, November 1st. Needham & Company LLC reissued a “hold” rating on shares of Peloton Interactive in a research report on Friday, November 1st. Morgan Stanley upped their price objective on Peloton Interactive from $3.50 to $5.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets lifted their price objective on Peloton Interactive from $6.50 to $8.50 and gave the stock 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $6.75.

Peloton Interactive Price Performance

The stock has a market capitalization of $3.71 billion, a P/E ratio of -9.09 and a beta of 1.93. The company’s 50 day simple moving average is $6.61 and its two-hundred day simple moving average is $4.74.

Peloton Interactive (NASDAQ:PTON) last posted 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 analyst estimates of $572.97 million. During the same period last year, the business posted ($0.44) earnings per share. Peloton Interactive’s revenue was down 1.6% compared to the same quarter last year. On average, research analysts anticipate that Peloton Interactive, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Peloton Interactive news, insider Andrew S. Rendich sold 138,391 shares of the firm’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 transaction, the insider now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Karen Boone sold 13,484 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $8.27, for a total transaction of $111,512.68. Following the completion of the transaction, the chief executive officer now directly owns 211,459 shares of the company’s stock, valued at $1,748,765.93. This trade represents a 5.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 506,517 shares of company stock worth $3,524,339. Company insiders own 1.34% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PTON. Vanguard Group Inc. raised its stake 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 valued at $135,212,000 after purchasing an additional 1,215,397 shares during the period. DNB Asset Management AS raised its holdings in Peloton Interactive by 42.4% in the second quarter. DNB Asset Management AS now owns 12,130,553 shares of the company’s stock worth $40,880,000 after purchasing an additional 3,611,069 shares in the last quarter. CWM LLC increased its stake in shares of Peloton Interactive by 1,217.3% during the second quarter. CWM LLC now owns 32,354 shares of the company’s stock valued at $109,000 after purchasing an additional 29,898 shares in the last quarter. LifePro Asset Management bought a new position in Peloton Interactive during the 2nd quarter valued at approximately $3,452,000. Finally, SG Americas Securities LLC raised its holdings in Peloton Interactive by 110.6% in the second quarter. SG Americas Securities LLC now owns 145,441 shares of the company’s stock worth $492,000 after buying an additional 76,382 shares during the last quarter. 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.