Peloton Pedals Back To Profit: Analysts Weigh In On Company’s Growth Plan
Peloton Interactive Inc (NASDAQ:PTON) shares rose in trading on Friday, after the company reported upbeat quarterly sales.
The company reported its results amid an exciting earnings season. Here are some key analyst takeaways.
Macquarie Equity Research On Peloton Interactive
Analyst Paul Golding maintained a Neutral rating while raising the price target from $2.53 to $4.90.
“The company beat across most major metrics, delivering top-line growth for the first time in years,” Golding said in a note. He added, however, that paid subscribers of 2.98 million fell 2% sequentially, with churn rose from 1.2% to 1.9%, more than expected.
Management expects gross margins to expand on “HW margin expansion and mix shift towards Subscriptions,” the analyst stated. “Despite cost-out execution, uncertain rev outlook coupled with CEO search still underway may remain an overhang,” he further wrote.
JPMorgan On Peloton Interactive
Analyst Doug Anmuth had a Neutral rating while slashing the price target from $7 to $6.
“Peloton generated positive Adj. …
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