Peloton (PTON) Stock Moves -0.37%: What You Should Know

In the latest trading session, Peloton (PTON) closed at $20.39, marking a -0.37% move from the previous day. This change was narrower than the S&P 500's daily loss of 2.77%. At the same time, the Dow lost 2.82%, and the tech-heavy Nasdaq lost 0.83%.

Prior to today's trading, shares of the exercise bike and treadmill company had lost 29.29% over the past month. This has lagged the Consumer Discretionary sector's loss of 6.3% and the S&P 500's loss of 1.35% in that time.

Investors will be hoping for strength from Peloton as it approaches its next earnings release. On that day, Peloton is projected to report earnings of -$0.83 per share, which would represent a year-over-year decline of 2666.67%. Meanwhile, our latest consensus estimate is calling for revenue of $976.12 million, down 22.67% from the prior-year quarter.

PTON's full-year Zacks Consensus Estimates are calling for earnings of -$3.94 per share and revenue of $3.74 billion. These results would represent year-over-year changes of -515.63% and -7.05%, respectively.

Investors might also notice recent changes to analyst estimates for Peloton. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. 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 remained stagnant within the past month. 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 173, putting it in the bottom 32% 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.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.