PTON Stock Forecast: Peloton Interactive Inc rebounds on strong sales outlook

NASDAQ:PTON gained 1.40% on Thursday during another rocky session for the NASDAQ index.
Peloton reported its fiscal year Q3 earnings report after the closing bell.
Peloton still has an uphill battle as it faces recalls of its treadmills.

Stocks Reporter FXStreet

NASDAQ:PTON has been one of the biggest winners for investors during the COVID-19 pandemic, but some recent issues have caused the stock to pull back. On Thursday, Peloton rebounded by adding back 1.40% to close the trading session at $83.78 and shares continued to rise during after hours trading. Peloton is still trading well below both its 50-day and 200-day moving averages after the recent correction, and currently sits at price levels that Peloton has not seen since September 2020.

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Peloton reported its fiscal year third quarter earnings after the closing bell on Thursday, and Wall Street seems to be happy with the results. Peloton stated that improvements it made in its supply chain allowed for a 141% year-over-year increase in sales. Earnings per share came in at a loss of $0.03 per share compared to Wall Street estimates of a loss of $0.12 per share, and revenue topped $1.26 billion compared to expected revenue of $1.1 billion, representing a 141% year-over-year increase. Peloton capped off the quarter with a 135% year-over-year increase in subscribers with 2.08 million active users.

PTON stock news

Peloton has been hit with some public relations nightmares over the past couple of months as a total recall of its treadmills came down earlier in the week. The company also experienced a data breach that resulted in user information being leaked, something that may pose a threat to users of connected fitness devices in the future. Despite this, Peloton shares were trading up over 4% after the earnings call.

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