In the latest trading session, Peloton (PTON) closed at $60.82, marking a +0.56% move from the previous day. This move outpaced the S&P 500's daily loss of 1.08%. At the same time, the Dow lost 1.51%, and the tech-heavy Nasdaq lost 0.86%.
Coming into today, shares of the exercise bike and treadmill company had gained 35.06% in the past month. In that same time, the Consumer Discretionary sector lost 2.05%, while the S&P 500 lost 0.3%.
Investors will be hoping for strength from PTON as it approaches its next earnings release.
It is also important to note the recent changes to analyst estimates for PTON. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 6.95% higher within the past month. PTON is holding a Zacks Rank of #2 (Buy) right now.
The Leisure and Recreation Products industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 5, which puts it in the top 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Peloton Interactive, Inc. (PTON) : Free Stock Analysis Report
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