Peloton Interactive analysts give mixed reviews: “Better than expected…

Peloton Interactive analysts give mixed reviews: “Better than expected…

Facebook
Twitter
LinkedIn

shares of Peloton Interactive Inc PTON The pre-market recovered slightly on Friday after falling further in the previous trading session unexpectedly high quarterly losses in the third quarter. Shares are back in the red after the market opens.

These analysts offer mixed earnings reviews.

Truist Securities on Peloton Interactive

analyst Youssef Squali reiterated a hold rating while lowering the price target to $10 from $15.

Peloton Interactive’s third-quarter results and fourth-quarter guidance showed that management is making “progress on repairing” the company, reducing costs and inventories while stabilizing cash flows and liquidity “in a low-demand environment,” Squali said in a statement.

“A seasonally weak fourth quarter and initiatives to accelerate growth in FY24 weighs on ST results – we now expect FCF profitability in 1H24 versus 2H23 previously,” the analyst wrote.

“A lot of work remains to prove that various new initiatives (FaaS, CPO, Digital, new products, partnerships and a revamped app) will result in significant growth and profitability,” he added.

Needham on Peloton Interactive

analyst Bernie McTernan maintained a Buy rating while lowering the price target to $10 from $20.

Estimates for the company were lowered to “reflect a more conservative view of product gross margins, which we now expect to remain negative in fiscal 2024, and moderately higher S&M expenses,” McTernan said.

“We expect the number of subscribers to decline slightly in fiscal 2024 given the development of gross adds,” he added.

Cash other stock reviews by analysts.

Telsey Group on Peloton Interactive

analyst Dana Telsey reaffirmed a Market Perform rating while lowering the price target to $10 from $11.

“Peloton’s 3Q23 revenue and EBITDA were better than expected as promotions and new initiatives such as FAAS and CPO (combined 24% of hardware sales in 3QF23) drove increased hardware sales and new subscribers,” Telsey wrote in a note. “The company has also made progress in…



Source story

More to explorer