PTON Stock Price: $185 Target (Up From $140) By Oppenheimer

By Amit Chowdhry ● January 25, 2021
  • The shares of Peloton Interactive Inc (NASDAQ: PTON) have received a price target increase from $140 to $185. This is why it happened.

The shares of Peloton Interactive Inc (NASDAQ: PTON) have received a price target increase from $140 to $185. And Oppenheimer analyst Jason Helfstein is maintaining a “Buy” rating on Peloton.

This new price target is based on 20 times the 2022 EV/GP estimate, which is in-line with tech companies like Netflix, Match, Spotify, and Wix. Helfstein pointed out that this bullish is based on its view that gym usage still has a long recovery path.

Used Peloton bikes have been selling rapidly on eBay and Facebook. And this reportedly caused Peloton to delay plans to launch a used bike marketplace as there is a lack of inventory, according to The New York Times correspondent Erin Griffith.

The $185 target represents a 15.8% upside to the closing price on Friday, January 22.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.