Canaccord Genuity analyst Susan Anderson maintained a Buy rating on Peloton Interactive today and set a price target of $10.00.
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Susan Anderson’s rating is based on Peloton Interactive’s promising outlook despite recent challenges. The company reported a decline in sales for the first quarter, but the results exceeded both internal and market expectations, demonstrating resilience in a competitive market. Peloton’s management has taken strategic steps to stabilize the business, focusing on profitability and subscription growth, which are crucial for long-term success.
Moreover, Peloton has introduced innovative offerings such as the AI-backed Peloton IQ and expanded into new health and wellness categories, indicating potential for future growth. The company’s efforts to tap into the commercial market, leveraging its Precor acquisition, also present significant opportunities. These factors, combined with management’s optimistic guidance for future earnings, underpin Anderson’s Buy rating for Peloton Interactive.
In another report released today, Roth MKM also reiterated a Buy rating on the stock with a $14.00 price target.
Based on the recent corporate insider activity of 91 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PTON in relation to earlier this year.