Forget Peloton: Here's 1 Fitness Stock to Buy in 2024
Peloton Interactive (NASDAQ: PTON) seems to get all the attention these days, at least when it comes to the exercise industry. It thrived before and during the pandemic. But in the past couple of years, the business has been fighting for its survival.
Its most recent financial update was cheered by investors, as maybe things will start to trend in the right direction. If you're considering buying this consumer discretionary stock right now, though, think again. There's a better fitness stock to buy in 2024.
Investors might be bullish on Peloton after its latest earnings report. Revenue of $643.6 million in its fiscal fourth quarter (ended June 30) was a tiny 0.2% higher than in the year-ago period. This could be a sign that things are stabilizing. Perhaps this is exactly what the market is thinking, given the stock's huge bounce.
Source Fool.com
Peloton Interactive Inc. Stock
Currently there is a rather positive sentiment for Peloton Interactive Inc. with 11 Buy predictions and 3 Sell predictions.
With a target price of 6 € there is a hugely positive potential of 50.75% for Peloton Interactive Inc. compared to the current price of 3.98 €.
