Why The Peloton Stock Fell 5.15% (PTON)

By Amit Chowdhry ● Jan 24, 2023
  • The stock price of Peloton Interactive (PTON) fell by 5.15% today. This is why.

The stock price of Peloton Interactive (PTON) fell by 5.15% today.

Why: Research report

Price target: Reduced from $14 to $12

Rating: Downgraded from Outperform to Neutral

Analyst firm: Baird

Baird analysts adjusted the rating while noting that Peloton has been an extremely challenging call down substantially from early 2021 highs as demand pull-forward and poor execution have become more clear. And despite the sizable decline, the analysts are stepping to the sideline now balancing the still-positive long-term view of the Connected Fitness long-run penetration potential, the company’s status as an industry leader, and turnaround progress behind CEO Barry McCarthy with a more cautious view of the environment including signs of accelerated return to gyms.