This Stock Is Down 96%, and One Wall Street Analyst Thinks It Could Gain 226% in 2024
The market is holding steady in 2024 following a heady 2023. That may be thanks to investor enthusiasm at the prospect of interest rates falling year and many companies reporting positive business trends. In the meantime, you still have the opportunity to find bargain stocks before they take off.
Peloton Interactive (NASDAQ: PTON) is down 96% from its highs, but at least one Wall Street analyst expects it to gain 226% in 2024, according to CNN Business. The fitness equipment maker has had a rough few years, and the stock trades at the dirt-cheap valuation of less than 1 times trailing-12-month sales. Is now the time to buy?
Peloton's sales soared early in the pandemic, but it got too big too quickly, and it's now picking up the pieces. There were a series of missteps, mostly related to overestimating demand and making heavy investments that turned into losses. Revenue continues to decline after peaking in 2021.
Source Fool.com
Peloton Interactive Inc. Stock
Our community is currently high on Peloton Interactive Inc. with 11 Buy predictions and 4 Sell predictions.
Based on the current price of 2.94 € the target price of 7 € shows a potential of 138.38% for Peloton Interactive Inc. which would more than double the current price.
