Peloton Interactive (NASDAQ: PTON) shares gained 4.57% on Monday after receiving numerous upgrades from analysts.

On Sunday, Peloton’s stock was upgraded from Baird analysts from USD 29.00 to USD 35.00 per share.

Similarly, other Wall Street analysts such as Evercore ISI, Needham & Company, SunTrust, Raymond James, and Bank of America have recently initiated their coverage on the stock.

Evercore ISI analysts initiated their coverage on October 21. The firm issued an “outperform” rating with a price target of USD 30.00. SunTrust Banks also initiated its coverage on Peloton the same day, however, the firm maintains a “buy” rating on the stock.

Raymond James also began its coverage on October 21. The firm maintained an “outperform” rating on the stock and issued a price target of USD 32.00 per share.

Needham & Company issued a “buy” rating on Peloton’s stock with a price target of USD 30.00.

Lastly, Bank of America analysts issued a “buy” rating on Peloton’s stock and gave it a price target of USD 29.00 per share.

Since last week, Peloton witnessed its shares gain as much as 22.8% amid Black Friday and Cyber Monday flash sales.

Frenzy shopping pushed Peloton’s stock above its initial public offering price of USD 29.00. Since it’s IPO launch, Peloton’s stock is now up 27.03%.

As of Monday’s closing bell, Peloton’s shares closed at USD 36.84.