Peloton

2022 - 5 - 11

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Image courtesy of "Investing.com"

Where's the Floor? Stifel Downgrades Peloton Stock to Hold, Others ... (Investing.com)

Stifel analyst Scott W. Devitt downgraded shares to Hold from Buy with a $14.00 per share price target today. “While we acknowledge that it is still early in ...

At the close in Tel Aviv, the... “The near-term environment remains challenging & significant cost savings will take time. “While we acknowledge that it is still early in the company's transition, visibility into the normalized growth rate of the business has yet to emerge. Guidance for 2Q calls for just ~18K net sequential Connected Fitness Subscriber additions, despite the company having lowered prices on its core hardware products in April. The price reductions implemented early in F4Q will contribute to reductions in hardware gross margins, leading to an adj. “We believe growth expectations have now been sufficiently reduced and we note our 2023 revenue estimate is roughly unchanged. We expect it will take several quarters to determine a more normalized pace of connected fitness subscriber growth, and we are materially lowering our estimates as we take a wait-and-see approach to initiatives aimed at reinvigorating growth and reducing costs,” Devitt said in a client note.

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Peloton Posted an Earnings Whiff. This Analyst Still Upgrades the ... (Barron's)

JMP Securities upgrades shares of Peloton, saying the stock's valuation is at an attractive point. Stifel, in turn, downgrades the stock.

Shares of Peloton Interactive were rising Wednesday, staging a rally just a day after the company reported worse-than-expected earnings. JMP Securities analyst Andrew Boone upgraded Peloton (ticker: PTON) to Market Outperform from Market Perform on Wednesday, saying the risk-and-reward profile seemed favorable now that the shares were trading lower. A fresh upgrade on the stock was helping drive the shares higher.

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Image courtesy of "CNBC"

Peloton took $182 million impairment charge last quarter as ... (CNBC)

Peloton's took a $182 million hit in its previous fiscal quarter as inventory levels ballooned and consumer demand for its bikes and treadmills waned.

Then-CEO and co-founder John Foley responded by saying Peloton needed to "right-size" production levels. As demand dropped off from a pandemic peak, Peloton's inventories grew sizably during the latest period to total $1.4 billion on the company's balance sheet, compared with $937.1 million a year earlier. The company's market cap has fallen to about $4.5 billion from a high of about $50 billion early last year.

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