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Peloton (PTON) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Peloton (PTON - Free Report) closed at $28.07, marking a -1.23% move from the previous day. This change lagged the S&P 500's 0.71% gain on the day. Meanwhile, the Dow gained 0.27%, and the Nasdaq, a tech-heavy index, added 0.14%.
Coming into today, shares of the exercise bike and treadmill company had gained 0.82% in the past month. In that same time, the Consumer Discretionary sector lost 2.83%, while the S&P 500 gained 3.76%.
Wall Street will be looking for positivity from Peloton as it approaches its next earnings report date. The company is expected to report EPS of -$0.79, down 2533.33% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $975.02 million, down 22.76% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$3.79 per share and revenue of $3.74 billion, which would represent changes of -492.19% and -6.95%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Peloton. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.86% higher. Peloton is currently sporting a Zacks Rank of #3 (Hold).
The Leisure and Recreation Products industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 163, putting it in the bottom 36% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Peloton (PTON) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Peloton (PTON - Free Report) closed at $28.07, marking a -1.23% move from the previous day. This change lagged the S&P 500's 0.71% gain on the day. Meanwhile, the Dow gained 0.27%, and the Nasdaq, a tech-heavy index, added 0.14%.
Coming into today, shares of the exercise bike and treadmill company had gained 0.82% in the past month. In that same time, the Consumer Discretionary sector lost 2.83%, while the S&P 500 gained 3.76%.
Wall Street will be looking for positivity from Peloton as it approaches its next earnings report date. The company is expected to report EPS of -$0.79, down 2533.33% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $975.02 million, down 22.76% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$3.79 per share and revenue of $3.74 billion, which would represent changes of -492.19% and -6.95%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Peloton. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.86% higher. Peloton is currently sporting a Zacks Rank of #3 (Hold).
The Leisure and Recreation Products industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 163, putting it in the bottom 36% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.