- 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.
