Peloton (PTON) closed the most recent trading day at $68.72, moving +1.67% from the previous trading session. This change outpaced the S&P 500's 0.32% gain on the day. Meanwhile, the Dow gained 0.17%, and the Nasdaq, a tech-heavy index, added 1.06%.

Heading into today, shares of the exercise bike and treadmill company had gained 5.38% over the past month, outpacing the Consumer Discretionary sector's gain of 5.01% and the S&P 500's gain of 4.84% in that time.

Investors will be hoping for strength from PTON as it approaches its next earnings release, which is expected to be September 10, 2020.

Any recent changes to analyst estimates for PTON should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 6.82% higher. 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 18, which puts it in the top 8% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

Click to get this free report Peloton Interactive, Inc. (PTON) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research