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

Peloton Interactive, Inc. (NASDAQ:PTON) reached a new 52-week high during trading on Thursday . The stock 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.

Analysts Set New Price Targets

Several brokerages have weighed in on PTON. JMP Securities restated a “market perform” rating on shares of Peloton Interactive in a research note on Thursday, October 3rd. Morgan Stanley upped their target price 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. Macquarie upped their price objective on shares of Peloton Interactive from $4.90 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Telsey Advisory Group boosted their target price on shares of Peloton Interactive from $5.00 to $9.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Finally, Sanford C. Bernstein lifted their price objective on shares of Peloton Interactive from $4.25 to $6.50 and gave the stock a “market perform” rating in a research note on Friday, November 1st. Fifteen analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.75.

Peloton Interactive Stock Performance

The stock has a 50 day simple moving average of $6.21 and a two-hundred day simple moving average of $4.59.

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 the consensus estimate of ($0.15) by ($0.01). The firm had revenue of $586.00 million for the quarter, compared to analyst estimates of $572.97 million. During the same quarter in the prior year, the firm posted ($0.44) earnings per share. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, equities research analysts expect that Peloton Interactive, Inc. will post -0.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Elizabeth F. Coddington sold 186,462 shares of Peloton Interactive stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $7.58, for a total transaction of $1,413,381.96. Following the sale, the chief financial officer now owns 223,017 shares of the company’s stock, valued at approximately $1,690,468.86. The trade was a 45.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Chris Bruzzo sold 24,977 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $5.80, for a total transaction of $144,866.60. Following the transaction, the chief executive officer now directly owns 149,240 shares of the company’s stock, valued at $865,592. The trade was a 14.34 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 506,517 shares of company stock worth $3,524,339. Corporate insiders own 1.34% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PTON. Point72 Asia Singapore Pte. Ltd. boosted its stake 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 acquiring an additional 1,597 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Peloton Interactive during the second quarter worth about $27,000. Skylands Capital LLC purchased a new position in Peloton Interactive during the second quarter worth about $30,000. Nisa Investment Advisors LLC raised its holdings in Peloton Interactive by 1,836.7% during the second quarter. Nisa Investment Advisors LLC now owns 9,490 shares of the company’s stock worth $32,000 after purchasing an additional 9,000 shares in the last quarter. Finally, Schneider Downs Wealth Management Advisors LP purchased a new position in Peloton Interactive during the second quarter worth about $35,000. Hedge funds and other 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.