4 Things Peloton Needs to Do to Become a Multibagger
In the video below, I will talk about what Peloton (NASDAQ: PTON) needs to do to become a multibagger in the future. Peloton is down 10% this week as fears of inflation rise. The stock also got downgraded by Wedbush to neutral on concerns that gym reopenings will boost competition. The 12-month price target was cut to $130 from $115.
In Q3, the company generated total revenue of $1.262 billion, which represented 141% year-over-year growth, exceeding expectations across all geographies. It added a record 414,000 net-connected fitness subscriptions in the quarter, to 2.08 million, up 135% year over year. Net adds were helped by the low average net monthly connected fitness churn of 0.31%, the best the company has seen in six years. Peloton averaged 26 monthly workouts per connected fitness subscription versus 17.7 in the year-ago period, an increase of 47% year over year.
More in the video below.
Source Fool.com
