Peloton Interactive (NASDAQ: PTON) is a rapidly growing connected fitness equipment and media business that's leading the reinvention of the home fitness industry. Here's why the stock is a buy.
Peloton has grown its connected fitness subscriber numbers at a blistering pace since its founding in 2012. At the end of its fiscal year ending June 2017, it had 107,708 subscribers -- a figure it more than doubled to 245,667 in the fiscal year ending June 2018 and more than doubled yet again to 511,202 in the fiscal year ending June 2019.
The annual doubling of connected fitness subscribers isn't over. On May 11, the company announced it had just passed 1 million subscribers. That's already 96% year-over-year growth, and there were still seven weeks to go in the current fiscal year at the time. The company was easily on pace to beat the 1,040,000 to 1,050,000 subscriber guidance for the end of June that it provided when it reported its last quarter.
Source Fool.com