Peloton Interactive  (PTON) - Get Report shares shot up as an investment firm gave the online-workout company a vote of confidence before its earnings report, slated for after the closing bell Wednesday.

Peloton's stock at last check pedaled 6.2% higher to $36 after analysts at Bank of America Securities lifted their price target on the New York company to $41 a share from $36.

That indicates a more than 15% premium over Peloton's current trading price, with the stationary interactive bike company has just gone public last September.

Peloton's stock price has nearly doubled from $19.51 on March 12, with the spread of the coronavirus and the issuance of stay-at-home orders by governments around the world. In 2020 through Monday's close, Peloton stock has risen 19%.

The lockdowns, which have shuttered gyms, have been seen by analysts as boosting interest in Peloton and its interactive stationary bicycles as people search for ways to keep active while confined to their homes.

Peloton bikes start at $2,245 apiece, noted Zacks Investment Research. Zacks predicts, based on its survey of analysts, that Peloton's revenue will clock in at $487.5 million for the fiscal third quarter, which covers the first three months of 2020.

That would be a 54% increase from the year-earlier quarter, when, according to Peloton's S-1 filing in August with the Securities and Exchange Commission, Peloton took in revenue of $316.7 million. 

Overall, Zacks is pegging Peloton's full-year fiscal 2020 revenue at $1.56 billion, for an increase of more than 70%.

With Gold's Gym filing for bankruptcy, Peloton has an opportunity to see considerable growth in 2020.