Peloton Interactive (NASDAQ:PTON) Shares Gap Up – Still a Buy?

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) 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.

Analysts Set New Price Targets

PTON has been the subject of a number of research analyst reports. Morgan Stanley lifted their price target on Peloton Interactive from $3.50 to $5.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Bank of America upgraded shares of Peloton Interactive from an “underperform” rating to a “buy” rating and upped their target price for the stock from $3.75 to $9.00 in a research report on Monday, November 4th. Sanford C. Bernstein raised their price target on shares of Peloton Interactive from $4.25 to $6.50 and gave the company a “market perform” rating in a report on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Peloton Interactive in a report on Friday, November 1st. Finally, Robert W. Baird increased their price objective on Peloton Interactive from $4.75 to $8.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Sixteen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.97.

Peloton Interactive Trading Up 2.7 %

The firm’s fifty day moving average price is $8.91 and its 200-day moving average price is $5.81. The company 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 posted its 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 analysts’ expectations of $572.97 million. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the firm posted ($0.44) earnings per share. As a group, research analysts anticipate that Peloton Interactive, Inc. will post -0.38 EPS for the current year.

Insiders Place Their Bets

In other Peloton Interactive news, CEO Chris Bruzzo sold 24,977 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $5.80, for a total transaction of $144,866.60. Following the completion of the transaction, the chief executive officer now owns 149,240 shares in the company, valued at approximately $865,592. This represents a 14.34 % decrease in their position. The transaction 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 sale, the insider now owns 287,973 shares in the company, valued at approximately $2,162,677.23. This trade represents a 32.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 447,798 shares of company stock worth $3,409,541. Company insiders own 1.34% of the company’s stock.

Institutional Trading of Peloton Interactive

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Peloton Interactive by 31.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 79,619 shares of the company’s stock valued at $269,000 after purchasing an additional 19,034 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Peloton Interactive by 30.1% during the 2nd quarter. Principal Financial Group Inc. now owns 44,798 shares of the company’s stock worth $151,000 after buying an additional 10,367 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Peloton Interactive by 4.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 133,765 shares of the company’s stock valued at $452,000 after acquiring an additional 5,463 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in shares of Peloton Interactive in the second quarter valued at about $35,000. Finally, Rhumbline Advisers raised its holdings in Peloton Interactive by 26.4% during the second quarter. Rhumbline Advisers now owns 464,436 shares of the company’s stock worth $1,570,000 after acquiring an additional 96,897 shares in the last quarter. 77.01% of the stock is currently owned by institutional investors and hedge funds.

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.