Benzinga | Nov 9, 2021 10:47AM EST

Why Peloton Shares Are Falling

Peloton Interactive Inc (NASDAQ:PTON) shares are trading lower on continued downward momentum after the company last week reported first-quarter earnings results and issued guidance.

Peloton reported quarterly losses of $1.25 per share which missed the analyst consensus estimate of a loss of $1.07 by 17%. Peloton reported quarterly sales of $805.20 million which missed the analyst consensus estimate of $810.76 million by 0.7%. This is a 6% increase over sales of $757.90 million in the same period last year.

Peloton provides interactive fitness products in North America and internationally. It offers connected fitness products with touchscreen that streams live and on-demand classes under the Peloton Bike, Peloton Bike+, Peloton Tread and Peloton Tread+ names.

Peloton has a 52-week high of $171.09 and a 52-week low of $49.25.