Needham analyst Bernie McTernan has reiterated their neutral stance on PTON stock, giving a Hold rating on November 3.
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Bernie McTernan has given his Hold rating due to a combination of factors impacting Peloton Interactive’s current market position. Despite the company’s better-than-expected first-quarter results, which led to an increase in adjusted EBITDA estimates for 2026 by 6%, there are lingering concerns about Peloton’s ability to achieve sustainable subscriber growth.
While the recent price increase met company expectations and churn is expected to remain stable, the short-lived spike in churn post-price increase raises questions about long-term subscriber retention. Additionally, although Peloton is introducing new products and potential content upgrades, the overall outlook remains cautious, warranting a Hold rating until more consistent growth patterns are observed.
According to TipRanks, McTernan is a 4-star analyst with an average return of 5.8% and a 47.20% success rate. McTernan covers the Consumer Cyclical sector, focusing on stocks such as Super Group (SGHC), DraftKings, and Flutter Entertainment PLC.
In another report released on November 3, Telsey Advisory also maintained a Hold rating on the stock with a $9.00 price target.