Peloton Stock: Next Stop, $4?
Shares of Peloton Interactive (NASDAQ: PTON) hit a new all-time low on Friday. One analyst believes that the stock can head even lower in the near term.
Arpine Kocharyan at UBS is slashing her price target from $8 to $4 this week. She is sticking to her sell rating, a market call that has been particularly astute when it comes to the beleaguered connected fitness pioneer. The stock has shed nearly half of its value in 2023, down a brutal 97% from the all-time peak it reached in early 2021.
A lot has gone wrong at Peloton after the initial pandemic surge for its stock and its products. Things aren't getting better, according to Kocharyan. After a positive trend in visits to the Peloton website in May and June, the data that she's seeing shows traffic taking a negative turn in July and August.
Source Fool.com
Peloton Interactive Inc. Stock
Peloton Interactive Inc. is currently one of the favorites of our community with 10 Buy predictions and no Sell predictions.
As a result the target price of 9 € shows a very positive potential of 57.89% compared to the current price of 5.7 € for Peloton Interactive Inc..
