Peloton (PTON Quick QuotePTON - Free Report) closed the most recent trading day at $71.21, moving +1.71% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.64%. Elsewhere, the Dow gained 1.39%, while the tech-heavy Nasdaq added 0.52%.

Investors will be hoping for strength from PTON as it approaches its next earnings release, which is expected to be September 10, 2020.

Investors might also notice recent changes to analyst estimates for PTON. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

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. Within the past 30 days, our consensus EPS projection has moved 29.26% higher. PTON is currently sporting a Zacks Rank of #2 (Buy).

The Leisure and Recreation Products industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 6, which puts it in the top 3% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.