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Peloton (PTON) Outpaces Stock Market Gains: What You Should Know
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Peloton (PTON - Free Report) closed the most recent trading day at $67.30, moving +1.28% from the previous trading session. This move outpaced the S&P 500's daily gain of 1.02%. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq added 1.73%.
Heading into today, shares of the exercise bike and treadmill company had gained 3.65% over the past month, lagging the Consumer Discretionary sector's gain of 6.93% and the S&P 500's gain of 7.25% in that time.
PTON will be looking to display strength as it nears its next earnings release, which is expected to be September 10, 2020.
It is also important to note the recent changes to analyst estimates for PTON. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 6.82% higher within the past month. PTON is currently a Zacks Rank #3 (Hold).
The Leisure and Recreation Products industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 21, which puts it in the top 9% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PTON in the coming trading sessions, be sure to utilize Zacks.com.
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Peloton (PTON) Outpaces Stock Market Gains: What You Should Know
Peloton (PTON - Free Report) closed the most recent trading day at $67.30, moving +1.28% from the previous trading session. This move outpaced the S&P 500's daily gain of 1.02%. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq added 1.73%.
Heading into today, shares of the exercise bike and treadmill company had gained 3.65% over the past month, lagging the Consumer Discretionary sector's gain of 6.93% and the S&P 500's gain of 7.25% in that time.
PTON will be looking to display strength as it nears its next earnings release, which is expected to be September 10, 2020.
It is also important to note the recent changes to analyst estimates for PTON. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 6.82% higher within the past month. PTON is currently a Zacks Rank #3 (Hold).
The Leisure and Recreation Products industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 21, which puts it in the top 9% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PTON in the coming trading sessions, be sure to utilize Zacks.com.