Peloton Stock Soared 44% Last Week, but Here's Why the Rally Might Fade
Peloton Interactive (NASDAQ: PTON) makes at-home exercise equipment fitted with digital screens, which can be used to stream everything from virtual classes to music. Its stock soared to an all-time high of $163 near the end of 2020 on the back of surging sales as consumers sought ways to remain active during lockdowns.
But demand has plunged since then, and the company's losses grew so large that it has been in a fight for survival over the past year. As a result, Peloton stock now trades at just $4.84 -- a whopping 97% discount to its record high.
The company reported its financial results for the fiscal 2024 fourth quarter and full year (ended June 30) last week, sending its stock soaring 44%. While there were some positive takeaways in the report, I don't think they will be enough to reverse the company's fortunes. Here's why.
Source Fool.com
Peloton Interactive Inc. Stock
Our community is currently high on Peloton Interactive Inc. with 9 Buy predictions and 6 Sell predictions.
As a result the target price of 5 € shows a slightly positive potential of 19.73% compared to the current price of 4.18 € for Peloton Interactive Inc..
