BofA and Telsey Cut Peloton (PTON) Price Targets

This update comes aft the institution reported its fiscal second-quarter results. Peloton Interactive, Inc. (NASDAQ:PTON) posted gross of $657 cardinal for the quarter, which was 3% little than Wall Street’s expectations of $677 million. This was driven chiefly by lower-than-expected Connected Fitness Product income to existing Members.

On February 6, Telsey Advisory Group besides reduced its terms people connected Peloton Interactive, Inc. (NASDAQ:PTON) from $8 to $6 and kept its Market Perform rating. This update came aft the banal experienced a important decline, which Telsey described arsenic “too severe,” adjacent erstwhile the institution continues to look maturation challenges.

Telsey pointed retired that the institution has achieved “better fiscal footing with improved profitability and a stronger equilibrium sheet” compared to the erstwhile year. However, the probe steadfast said that Peloton Interactive, Inc. (NASDAQ:PTON) has “yet to spot grounds of a near-term inflection to maturation successful hardware income and subordinate count.” Despite the improved fiscal position, Telsey expects the banal to enactment “range bound” successful the adjacent word due to the fact that of uncertainty astir the company’s maturation prospects.

Peloton Interactive, Inc. (NASDAQ:PTON) is simply a fittingness institution that provides users with workout instrumentality and at-home workout classes and programs.

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