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There was an after-hours boost for Peloton Interactive Inc (NASDAQ:PTON) shares, which jumped over 11% after David Einhorn of Greenlight Capital highlighted the company's potential at the Robin Hood Investors Conference.

Einhorn, who revealed a $6.8 million stake in the exercise bike giant as of June 30, believes the stock is undervalued, though he didn't specify a target price.

His comments follow Peloton's announcement of a partnership with Costco to sell its Bike+ in stores and online, aiming to attract younger, affluent buyers.

The company is currently searching for a new CEO after Barry McCarthy's resignation earlier this year.

Peloton has shifted its focus towards profitability after completing a major refinancing, and its stock has seen modest gains this year amid ongoing volatility.

The shares rose 62 cents to $6.27.