What's Going On With Peloton's Stock?

Peloton Interactive, Inc. PTON shares are trading higher Thursday, and the stock is up by more than 35% over the past five days. Here's a look at what's going on. 

What To Know:

Peloton shares soared following a CNBC report Tuesday which said multiple private equity firms are considering a buyout of the company. 

According to the report, the company has discussed plans to go private with at least one firm and multiple private equity firms have expressed interest.

Last week, Peloton reported worse-than-expected third-quarter results, a CEO transition, and plans to cut 15% of its global workforce.

Peloton shares are moving on heavy trading volume Wednesday and 16.13% of available shares are being sold short, according to data from Benzinga Pro.

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Will PTON Stock Go Up?

When trying to assess whether or not Peloton Interactive will trade higher from current levels, it's a good idea to take a look at analyst forecasts.

Wall Street analysts have an average 12-month price target of $4.21 on Peloton Interactive. The Street high target is currently at $7 and the Street low target is $2.53. Of all the analysts covering Peloton Interactive, 2 have positive ratings, 9 have neutral ratings and one has a negative rating.

In the last month, 14 analysts have adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Peloton Interactive have performed in recent history.

Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Peloton Interactive is 37.17% down year-to-date. The average analyst price target suggests the stock could have further downside ahead.

For a broad overview of everything you need to know about Peloton Interactive, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.

PTON Price Action: According to Benzinga Pro, Peloton shares are up 9.77% at $4.32 at the time of publication Thursday.

Image: Courtesy of Peloton Interactive, Inc.