PTON - Peloton Interactive, Inc.
Chart Events
Slow Stochastic
Performance Outlook
- Short Term2W - 6W
- Mid Term6W - 9M
- Long Term9M+
| Previous Close | 28.75 |
| Open | 29.19 |
| Bid | 0.00 x 1200 |
| Ask | 0.00 x 1200 |
| Day's Range | 28.02 - 29.44 |
| 52 Week Range | 17.70 - 37.02 |
| Volume | 7,596,606 |
| Avg. Volume | 6,700,501 |
| Market Cap | 7.963B |
| Beta (5Y Monthly) | N/A |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -2.11 |
| Earnings Date | May 04, 2020 - May 14, 2020 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | 37.55 |
Fair Value
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- Analyst Report: Peloton Interactive Inc
Investor's Business Daily VideoCan Peleton Still Workout?
Peloton Interactive has a more regular shape of a double bottom but it has its problems.Very deep and still below IPO price.On the plus side, back above 50-day moving average line.
Yahoo Finance VideoHow to maintain your physical, mental health during the coronavirus pandemic
Women's Health editor-in-chief Liz Plosser breaks down the importance of maintaining your physical and mental health as more people are confined to their homes. She joins Yahoo Finance's On The Move panel to discuss.
- Reuters
Peloton halts live classes as employee tests positive for COVID-19
Peloton, whose flagship product is a stationary exercise bike priced at over $2,200, had said on Friday an employee at its New York City-based production studio has tested positive for COVID-19, according to a report https://www.theverge.com/2020/4/3/21207751/peloton-live-classes-employee-tested-positive-covid-19 by The Verge. Peloton said https://blog.onepeloton.com/peloton-covid-19-initiatives on Monday it would continue to add new, pre-recorded content on its Peloton App, which has a monthly subscription cost of $12.99.
- Benzinga
Peloton Cancels April Live Classes
Peloton (NASDAQ: PTON) canceled live classes Monday, and the BBC reports that the move came after one of its New York employees tested positive for coronavirus.Users of the company's exercise bikes can purchase a monthly subscription to access both livestreamed and recorded classes.Peloton has suspended production in its New York and London studios until April 30, the company said in a statement. Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.The company had continued to operate its New York and London studios in adherence with local government and public health guidance, Peloton told the BBC. "That said, we have decided to pause production of all live classes ... in the interim, we will continue to monitor the situation as it evolves." Peloton shares were trading up 0.75% at $28.96 at the time of publication Monday. The stock has a 52-week high of $37.02 and a 52-week low of $17.70.Related Links:Peloton Reports Q2 Earnings Beat, Stock Falls On OutlookPeloton Reports First Sales Beat As A Public CompanyPhoto courtesy of Peloton. See more from Benzinga * Why Planet Fitness Is Trading Higher Today * Why Jacobs Engineering's Stock Is Trading Higher * Why Intel's Stock Is Trading Higher Today(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- Zacks
Is Peloton Interactive (PTON) Outperforming Other Consumer Discretionary Stocks This Year?
Is (PTON) Outperforming Other Consumer Discretionary Stocks This Year?
- Zacks
5 Top Stocks to Buy With the $1,200 Coronavirus Stimulus Check
A one-time $1,200 cash payment from the federal government is widely expected to arrive around the middle of April. Here's how to use it -
- Bloomberg
What I Learned From Trying to Cut My Own Hair
(Bloomberg Opinion) -- Writing to shareholders this week, BlackRock Inc.s chief executive officer Larry Fink ruminated on how business and society will be reshaped by the searing experience of the new coronavirus:“People worldwide are fundamentally rethinking the way we work, shop, travel and gather. When we exit this crisis, the world will be different. Investors’ psychology will change. Business will change. Consumption will change. And we will be more deeply reliant on our families and each other to stay safe.”I had a similar epiphany this week while trying to cut my own hair — it turns out my regular $30 haircut isn’t as essential as I’d thought. Preparing a meal for my family later that evening made me think that eating out or getting dinner delivered isn’t as rewarding as home cooking. Right now the do-it-yourself version also feels a whole lot safer, and probably will do for a while.Compared to the courage shown by medical workers and those in other essential functions, and the devastation wrought by coronavirus on already vulnerable communities, many of us in the western world have it easy. We’re asked to do no more than stay home. But in between worrying about our jobs, our parents and how to entertain or home-school children, we’re reevaluating priorities. What will we do differently when this is over? What will we prize more and what will we give up? Once the immediate battle to protect employees and remain solvent has passed, the business world will have to confront these questions too. Two themes stand out: Instead of visiting far-flung places and seeking out mass entertainment, I’m sure there will be a bias toward more modest, local activities. And where the coronavirus has exposed dependency or vulnerability, as with the business world’s complex cross-border supply chains, we’ll seek more security and resilience.Looming above all of this is the damage that the lockdowns are inflicting on people’s incomes. The longer the economic shutdown lasts, the more reluctant the world’s consumers will be to spend, period. With more than 10 million Americans filing new unemployment claims in the past fortnight, the omens aren’t good.In the worst-affected sectors such as travel, hospitality and leisure, businesses are already facing a bleaker future. Increased consumer awareness about the negative environmental and social impact of mass tourism has now been compounded by the realization that people on planes and pleasure boats carried the virus around the globe. Lufthansa AG’s boss, Carsten Spohr, thinks the German airline will have to shrink because the economy will be smaller than before. Easyjet Plc’s founder, Stelios Haji-Ioannou, said similar this week when calling on the carrier to cancel a big order from Airbus SE.Even once travel restrictions are lifted, demand for cruises may remain weak for a “significant length of time,” Carnival Corp. warned. The beleaguered company had to offer bond-buyers an 11.5% interest rate to get them to back a $4 billion debt offering. That’s a bad sign.Fitness is another industry that relies on cramming people into confined spaces. Until recently it was booming but customers are discovering much cheaper ways to work out. Having sampled online classes and the time-saving benefit of exercising at, or close to, home, some memberships won’t be renewed. Good news for Peloton Interactive Inc.’s indoor cycling business, perhaps not for Planet Fitness Inc. or The Gym Group Plc. Until coronavirus came along, the tech world seemed hell-bent on taking agency away from individuals and consigning ownership to the dustbin. Why learn to cook when you can have food delivered in 30 minutes? Why own a car when you can take an Uber? Why look after your gadgets, when those nice people at Apple will fix them for you. But as my colleague Adam Minter pointed out this week, it’s only in a crisis that you discover the drawbacks of not being able to repair your own phone.There will be winners from this realignment too. Right now, auto sales are collapsing in Europe because you can’t go to a showroom and you’re not meant to drive far, but the freedom and security of owning a vehicle might cause sales to rebound more quickly than other discretionary purchases (provided of course that governments can curb unemployment). In China, emerging from the first virus wave, cautious consumers have begun returning to car dealers. Home improvement stores saw a brisk trade from customers wanting to fix up their homes, balconies and allotments whilst on lockdown, and some hardware stores remain open. Once the housing market reopens, urbanites may decide they’ve had enough of crowded cities and tiny apartments. The countryside is suddenly more appealing — the more so if employers become more trusting of those who want to work from home. Coronavirus has exposed our vulnerability and it won’t be the last crisis. Our planet-warming emissions mean more pain is preordained. Faced with uncertainty or disaster, humans respond by trying to strengthen their communities. We’ll also seek more control over our lives. For societies, that means equipping our health services, paying key workers properly and securing supplies. As individuals, it means out-sourcing fewer decisions and mastering things for ourselves. This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Chris Bryant is a Bloomberg Opinion columnist covering industrial companies. He previously worked for the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- TheStreet.com
Peloton Initiated Buy at Rosenblatt as Virus Forces Gyms to Close
Peloton was initiated with a buy rating and $42 price target at Rosenblatt Securities, which sees the subscription exercise company benefiting as the coronavirus forces gyms to close.
- TechCrunch
Peloton launches an Android TV app
With gyms across the country closed for business, at-home exercise companies like Peloton have found an unexpected opportunity. As the connected fitness company looks to onboard new customers, they're also expanding platform support, announcing today that they would be bringing their app to Android TV, the OS used by millions of smart TVs. Peloton has not been unaffected by the virus.
- Zacks
The Zacks Analyst Blog Highlights: Moderna, Regeneron, Zoom Video, Netflix and Peloton
The Zacks Analyst Blog Highlights: Moderna, Regeneron, Zoom Video, Netflix and Peloton
- Yahoo Finance
'It's unfathomable': Fitness companies describe how coronavirus derailed the booming industry
Boutique fitness studios and fitness franchises across the U.S. are among the industries feeling the financial blow from the coronavirus.
- Benzinga
Video: 'Peloton Girl' Calls Out Citron's Andrew Left For Dismal Price Target
Actress Monica Ruiz criticized Citron Research's Andrew Left for giving a bleak outlook for Peloton Interactive Inc. (NASDAQ: PTON).What Happened Twitter user "Typical VC" posted a video on Twitter on Tuesday, saying that he had booked Ruiz's services on Cameo to talk about Citron.> Booked "Peloton girl" on Cameo to address Peloton short seller, @CitronResearch pic.twitter.com/UwCbKt6omH> > -- Typical VC (@typicalVC) March 31, 2020"I just thought that I would be a good person to talk a little s--t to you," Ruiz can be heard saying, referring to Left. "One bad little bit of promotional materials, or...press isn't going to kill a company like Peloton, especially right now."Who's Ruiz? The actress shot to fame last year when one of her expressions from a Peloton ad was turned into a meme on social media, as reported by the Los Angeles Times.Citron's Price Target Citron has given a price target of $5 on Peleton's shares by the end of 2020. Left maintained the price target in an analysis early March, even as the novel coronavirus (COVID-19) pandemic increased demand for home fitness products and services. "With a potential recession on the horizon, selling $2k bikes with a $39 a month subscription might not be the best business model," Left said in the note.Other analysts have said that Peloton is likely to continue to gain momentum during the widespread lockdowns.Price Action Peleton's shares closed 5.31% higher at $27.96 on Wednesday and added another 0.86% in the after-hours session.Photo Credit: Courtesy of Peloton.See more from Benzinga * Biden's Lead Over Trump Has Widened Despite Coronavirus Campaign Setback: Reuters/Ipsos Poll * New York City Investigates Amazon For Human Rights Violation During Coronavirus Pandemic * Here's How The 'MAGA' Tech Giant Stocks Performed In Q1(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- TheStreet.com
Can Peloton Keep Pedaling Higher on the Charts?
During the popular 'Lightning Round' segment of Mad Money Tuesday night, one caller asked Jim Cramer about Peloton Interactive . Cramer said, "This does fit the stay-at-home thesis." Let's take a short break from our morning workout and check out a few charts of PTON.
- Zacks
Top Stock Trades to Beat Coronavirus Blues in April
The coronavirus pandemic has hit markets bad. But investors shouldn't shun stocks in April but should instead look for avenues to invest in areas under focus owing to rise in infected cases.
- Benzinga
Cramer Weighs In On Peloton, Planet Fitness And More
On CNBC's "Mad Money Lightning Round", Jim Cramer said Peloton Interactive Inc (NASDAQ: PTON) is very interesting because it's the ultimate stay-at-home stock. He's not sure if people are still going to buy it in case of recession, but at least it has a good thesis.Solaredge Technologies Inc (NASDAQ: SEDG) is pretty dangerous so Cramer would not buy it.See Also: Analysts Favor Peloton As Stay-At-Home Customers Take To Home WorkoutsCramer likes Uber Technologies Inc (NYSE: UBER) as a long-term deal, but he thinks it needs a better balance sheet.We're going into a recession where a lot of things won't be built, said Cramer. Nucor Corporation (NYSE: NUE) was upgraded Tuesday and it yields 4.2%. Cramer would be a buyer if it yields 5%.Before the pandemic, Planet Fitness Inc (NYSE: PLNT) was one of the Cramer's favorite stocks. Now, there are a lot of bad things for business and Cramer wants to wait and see what happens.See more from Benzinga * Q4 Earnings Outlook For PVH * NanoViricides Searches For Coronavirus Treatment In Ligand Library: 'A Humanitarian Thing To Do' * 7 Real Estate Stocks Moving In Wednesday's Pre-Market Session(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- Benzinga
Analysts Favor Peloton As Stay-At-Home Customers Take To Home Workouts
Analysts believe that Peloton Interactive Inc. (NASDAQ: PTON) will continue to gain momentum as people turn to home workouts to maintain fitness during widely imposed stay-at-home orders.What Happened Peloton, which went public last year, sells home workout equipment bundled with a streaming service composed of exercise classes for $12.99 per month. The company is currently giving away a 90-day trial of its service, which is usually valid for a month, reported CNBC.Peloton also offers an app, which offers workouts for those people without its exercise equipment. The total downloads of this app rose fivefold in March compared to February. According to analyst Lee Horowitz of Evercore ISI, the conversion rate from the app to equipment is nearly 10%.Horowitz wrote in a research note, "With the most up-to-date data through March, we are seeing Peloton subscriber growth and engagement clearly benefiting from global quarantines."On Tuesday, Wedbush's James Hardiman told CNBC, "If you go as far to buy the bike, you're not somebody who's planning on going back to traditional fitness patterns, once you're bought in you're bought in." He reflected, "That is not a temporary uptick in demand. That will have a lasting impact."Why It Matters Peloton claims to be the "largest interactive fitness platform" in the world, with over 2 million members.In its Q2 results, as of December 31, Peloton reported a rise in quarterly revenue by 77% to $446.3 million. In the same period in 2018, the company's revenue stood at $262.9 million.What Else While Peloton finds favor with analysts, there has been a growth in the sale of home exercise materials like Yoga mats, which have risen up the ranks on Amazon Inc.'s (NASDAQ: AMZN) best-selling product list. Price Action Peloton shares traded 0.94% higher at $26.80 in the after-hours session on Tuesday. The shares had closed the regular session 4.15% lower at $26.55.Photo Credit: Courtesy of Peloton.Latest Ratings for PTON DateFirmActionFromTo Mar 2020JP MorganMaintainsOverweight Mar 2020WedbushMaintainsOutperform Feb 2020Canaccord GenuityMaintainsBuy View More Analyst Ratings for PTON View the Latest Analyst Ratings See more from Benzinga * Pandemic Necessities: Guns, Jigsaw Puzzles, Yeast Among Items Flying Off The Shelves(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- Investor's Business Daily
Here's How Much Peloton Downloads Have Spiked On Coronavirus
Peloton's move to cut subscription prices late last year appears to be paying off amid the coronavirus outbreak.
- Yahoo Finance
Advice on staying healthy amid the coronavirus: 'Stay away from anything that causes inflammation'
Gym closed during the coronavirus pandemic? No problem. Here are some helpful tips to staying healthy from the founder and CEO of Life Time Fitness.
- Zacks
The Zacks Analyst Blog Highlights: Peloton Interactive, Amazon.com, Facebook and PayPal
The Zacks Analyst Blog Highlights: Peloton Interactive, Amazon.com, Facebook and PayPal
- TheStreet.com
Peloton Shares Outperform as Coronavirus Prompts Consumers to Exercise at Home
Peloton, the subscription exercise equipment and service provider, has strongly beat the S&P; 500 index over the past month, as sales appear to be rising, a media report says. The coronavirus has prompted consumers to work out at home.
- Insider Monkey
Hedge Funds Have Never Been This Bullish On Peloton Interactive, Inc. (PTON)
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]
- Yahoo Finance
Coronavirus 'will profoundly impact how we consume fitness': Women's Health top editor
More Americans may be flocking to at-home online workouts now that several major U.S. cities have mandated that gyms temporarily close their doors due to the new coronavirus outbreak.
- Benzinga
5 Ways You Can Work Out During The Coronavirus Crisis
We're not getting out much right now. But "can't get out" doesn't have to mean "can't get a workout."Here are five ways we'll still be able to get our sweat on during our collective coronavirus self-quarantine.Connected Stationary Bike It is not a coincidence that Peloton Interactive Inc (NASDAQ: PTON) stock was up more than 14% Monday as the rest of the market coasted downhill. Still making fun of Peloton now?While the online-connected exercise biking company did close its in-person New York and London studios and retail showrooms as the virus spread across the country, the company's stationary bikes with subscription programming that streams into your home is one of the trendiest ways you can get your endorphins flowing and burn calories while remaining comfortably socially distanced from everyone else.Another connected bike-riding option is from the Canadian company Zwift. With the Zwift set-up, users hook their own bike up to a rig and then connect to an app that lets you simulate riding at several locations around the world. The Zwift platform also works for runners using a treadmill, all without risking speading the virus. Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.Or How About Just Go For a Real Bike Ride? Quarantining to avoid spreading the virus is one thing. If you think or know you are infected, doctors are imploring you to stay isolated. But self-isolation to avoid contracting the virus is different -- the main thing is to avoid close contact with others, thus minimizing risk of spread.> We've seen a surge in cycling since the beginning of March, with warmer temperatures and after recommendations from @NYCMayor and @nycHealthy regarding COVID-19. This week we've seen a 50+% increase in cycling on all East River Bridges (vs 2019).https://t.co/LU74aCrDf2 pic.twitter.com/fOxqT8idjr> > -- NYC DOT (@NYC_DOT) March 11, 2020It's OK to exercise outside, as long as you can keep a safe distance - about 6 feet - from strangers. Harvard Medical School says it is not only OK, but suggests getting out for walks, runs or other exercise.The New York City Department of Transportation said last week that the number of cyclists is up in the city. It is probably partly because it's getting warmer, but also because more people are biking instead of taking public transportation to avoid other people. But it's also a good way to get more exercise when the gym is closed or your basketball league has canceled all its games.Runners, You Can Still Log Your Miles You don't want to go enter a road race: those giant masses of runners at the starting line would be a public health nightmare right now. But if you have a runner's high addiction, don't worry. You can get your fix. Solo runs are good -- experts say it's actually safer to be outside doing something by yourself than inside. Health experts do suggest avoiding long, intense runs for a while, because they can tax your body's defense system and might make you more susceptible to infection.Other At-Home Workouts Anybody who travels a lot and tries to get regular exercise has looked into ways to turn a hotel room into a small personal gym. Body weight exercises, like pushups, squats or dips, can be done anywhere, including your own den of quarantine. People who can't go to the gym because of coronavirus are in the same boat as those who don't have time to go and can try these microworkouts at home. What If You Miss The Camaraderie Of The Gym? Some people like their workouts around other people. Seeing other people working out can be motivating and encouraging. In Spain and Italy, people have figured out how to do joint workouts with social distance. Behold the balcony fitness class.Related Links:Coronavirus Live Updates: What's Going On In The US And Around The World4 Micro Workouts For When You're Too Busy To Go To The GymPhoto courtesy of Peloton.See more from Benzinga * Could Warren Buffett Bail Out The Airlines? * Roku Analyst Lifts Sell Rating Off Stock On Lower Price, Long-Term Outlook * Morgan Stanley Upgrades Tesla On More Realistic Stock Price, Can Weather Coronavirus Downturn(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- TipRanks
Amazon, Facebook among Wedbush’s Best Ideas for 2020
Following last week’s pattern to a T, the market has continued to seesaw. After yet another circuit breaker was triggered on March 16, just three minutes after the session began, stocks followed up the drop by rallying on President Trump’s $1 trillion stimulus package one day later.Amid the volatility, it makes sense that investors are at a loss when it comes to investing inspiration. However, Wall Street’s seasoned pros can lend a hand. They know the ins and outs of the market, and are often well versed in the industries they cover. So, when investing firm Wedbush added three new names to its Best Ideas for 2020 list, we were intrigued.Bearing this in mind, we ran three of the firm’s stock picks through TipRanks’ database to get a better sense of the broader analyst community’s opinion. We revealed that the Street is overwhelmingly bullish on all of the names, with each earning a “Strong Buy” consensus rating. Not to mention the stocks sport some impressive upside potential. Here are all the details on Wedbush’s picks.Amazon.com (AMZN)First up on Wedbush’s list is internet titan Amazon. The company earned the coveted spot based on its ability to deliver earnings over the long run, even given the current economic climate.Weighing in on Amazon for the firm, analyst Michael Pachter argues that the company is “uniquely-positioned to gain meaningful market share across a number of verticals in a multitude of countries” as a result of the coronavirus outbreak. “Over the near-term, consumers appear to be spending more of their time and money shopping online in order to avoid crowds, to limit the amount of time wasted searching for products that could be sold out at brick-and-mortar outlets, and, in some situations, to adhere to the rules implemented by different governmental bodies,” he explained.Having said that, this ramp up in demand has created challenges. Over the past weekend, the rush of online shopping caused some supply shortages and delivery delays. Pachter doesn’t dispute the fact that this is disappointing, but believes that any negative impact from the increase in demand is a “high-class” problem.Pachter expounded on this, noting, “Over the long-term, we expect Amazon to absorb the learnings from this difficult period and adapt its supply chain and delivery network best practices accordingly. In addition, we expect consumers’ increasing reliance on the company at present to result in the acceleration of market share capture that should benefit Amazon and its investors for the next several years.”As the Wedbush analyst expects Amazon Web Services, Fulfillment by Amazon and ads to fuel margin growth, it’s no wonder he’s staying with the bulls. Along with his Outperform call, he maintained his $2,325 price target, which represents a premium EV/EBITDA multiple compared to its competitors. It also puts the upside potential at 29%. (To watch Pachter’s track record, click here)All in all, the rest of the Street is on the same page. Out of 39 analysts that have published a recent review, 38 see the stock as a Buy, making the consensus rating a Strong Buy. At $2,425, the average price target is a bit more aggressive than Pachter’s, and brings the upside potential to 34%. (See Amazon stock analysis on TipRanks)Facebook (FB)With people relying on constant news coverage to get updates on the pandemic and healthcare officials encouraging the practice of social distancing, Wedbush cites social media giant Facebook as standing to gain amid the ongoing public health crisis.Analyst Michael Pachter, who also covers this stock, thinks that fears related to the outbreak have driven a substantial increase in user engagement, which in turn has led to impression growth across several properties.“Given the seemingly unprecedented and unrelenting volume of news related to the global pandemic, the reliance that a large percentage of the world’s population has on Facebook as its primary source of information, and an increasingly-pervasive stay-at-home attitude accentuated in some instances by the government, we believe that many Facebook users have been accessing its properties at meaningfully elevated levels over the last several weeks,” the analyst wrote.According to Pachter, the “positive momentum” should remain throughout the first quarter of 2020 in several key regions. On top of this, he calls both the high-end of management’s guidance for Q1 top-line growth and the Street’s estimates for full year 2020 “overly conservative."Additionally, the company will most likely continue expanding its reach internationally and increase WhatsApp, Messenger and Instagram monetization. Taking all of this into consideration, the deal is sealed for Pachter. As a result, he kept both his Outperform call and $250 price target as is. This conveys his confidence in FB’s ability to climb 67% higher in the next twelve months.What do other analysts think about FB’s prospects? Its Strong Buy consensus rating, which breaks down into 35 Buys, 2 Holds and 1 Sell assigned in the last three months, suggests that a majority are bullish. Should the $252.79 average price target be met, a 69% twelve-month gain could be in the cards. (See Facebook stock analysis on TipRanks)Peloton Interactive (PTON)As for the final spot on Wedbush’s Best Ideas list, it goes to Peloton Interactive. The company uses technology to provide an at-home workout experience through its stationary bikes, treadmills and live fitness classes that can be streamed through its app. With it now offering a free 90-day trial subscription and jumping 29% in the last two days, Wedbush believes PTON is well positioned within the space.Over the past few days, the governments of several states such as California, New York, New Jersey and Connecticut have called for the closure of gyms, with others expected to follow suit. As a result, more and more consumers will turn to at-home fitness solutions as a way to exercise during this time.Writing for Wedbush, analyst James Hardiman notes that while the market for traditional gyms isn’t going anywhere, he expects to see a long-term surge in demand for at-home fitness products and services. This conclusion is based on the improvement of technology and the fact that time poverty is getting worse. “Additionally, not only is PTON arguably the company in our coverage best insulated from the current coronavirus pandemic, but increasingly we see PTON as a potential beneficiary of widespread social distancing efforts, accelerating what we believe is already an inevitably shift,” he stated.Some investors have expressed concern that shares are still down year-to-date despite the coronavirus-driven boost. That being said, Hardiman points out that PTON’s better-than-expected quarterly results, increased full-year guidance and progression past the post-IPO share lockup period indicate that gains could be on the horizon. Additionally, the fitness name settled its lawsuits with FlyWheel, eliminating a significant competitor, and the National Music Publishers' Association (NMPA). It will now work with the NMPA to “further optimize Peloton's music licensing systems and processes.”It should be noted that a recession could hamper the company and that lockdowns of major cities could result in delivery headwinds. However, with regards to the recession risk, Hardiman argues “while a recession certainly won’t help demand for such a premium-priced product, our consumer research suggests that recessionary churn could prove to be comparatively low given a willingness of members to cut back on other subscriptions before cancelling their Peloton membership.”To this end, Hardiman left both an Outperform rating and $35 price target on the stock. The implication? A return of 45% could be lining investors’ pockets should the target be met in the coming months. (To watch Hardimon’s track record, click here)All in all, other analysts also have high hopes for PTON. 13 Buys and 2 Holds issued in the last three months add up to a Strong Buy Street consensus. In addition, the $36.20 average price target implies 42% upside potential from current levels. (See Peloton stock analysis on TipRanks)
