Peloton Interactive (NASDAQ:PTON) Hits New 52-Week High – Should You Buy?

Peloton Interactive, Inc. (NASDAQ:PTON)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $9.09 and last traded at $9.01, with a volume of 13604586 shares traded. The stock had previously closed at $8.36.

Analyst Ratings Changes

Several brokerages have recently weighed in on PTON. Morgan Stanley increased their price objective 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. Telsey Advisory Group lifted their price target 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. Canaccord Genuity Group upped their price objective on Peloton Interactive from $4.00 to $5.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Macquarie raised their target price on Peloton Interactive from $4.90 to $9.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Robert W. Baird boosted their price target on Peloton Interactive from $4.75 to $8.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Fifteen analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Peloton Interactive has an average rating of “Hold” and a consensus target price of $6.75.

Peloton Interactive Price Performance

The stock has a market cap of $3.46 billion, a PE ratio of -8.47 and a beta of 1.93. The stock has a 50-day moving average price of $6.01 and a two-hundred day moving average price of $4.51.

Peloton Interactive (NASDAQ:PTON) last announced 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 for the quarter, compared to analysts’ expectations of $572.97 million. During the same period last year, the firm posted ($0.44) earnings per share. The company’s revenue was down 1.6% compared to the same quarter last year. Equities research analysts expect that Peloton Interactive, Inc. will post -0.38 earnings per share for the current year.

Insider Buying and Selling at Peloton Interactive

In other Peloton Interactive news, insider Nick V. Caldwell purchased 31,337 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $4.25 per share, with a total value of $133,182.25. Following the purchase, the insider now owns 31,337 shares of the company’s stock, valued at approximately $133,182.25. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew S. Rendich sold 138,391 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 287,973 shares in the company, 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 556,517 shares of company stock worth $3,768,339 over the last quarter. Insiders own 1.34% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

A number of hedge funds have recently added to or reduced their stakes in PTON. Russell Investments Group Ltd. grew its stake in Peloton Interactive by 25,397.7% in the first quarter. Russell Investments Group Ltd. now owns 393,685 shares of the company’s stock worth $1,687,000 after purchasing an additional 392,141 shares in the last quarter. Vanguard Group Inc. raised its position in Peloton Interactive by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company’s stock worth $135,212,000 after buying an additional 1,215,397 shares during the last quarter. Sheaff Brock Investment Advisors LLC acquired a new stake in Peloton Interactive during the 1st quarter worth about $44,000. Evergreen Wealth Solutions LLC acquired a new stake in Peloton Interactive during the 1st quarter worth about $48,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Peloton Interactive during the 1st quarter valued at about $5,877,000. 77.01% of the stock is currently owned by 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.