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Peloton Shares Spike 21% As Turnaround Plan Takes Hold Overview The Bike and Tread maker has been working to improve its balance sheet and looks to be more focused on profitability than growth. The connected fitness company posted quarterly results that came in well ahead of expectations and delivered a mixed outlook for the year ahead. Peloton (NASDAQ: NASDAQ:PTON ) has returned to sales growth for the first time in nine quarters. Peloton (NASDAQ: NASDAQ:PTON ) said on Thursday It is digging itself out of the red and making progress out a slight sales increase for the first time in nine quarters as it slashed its overall losses. The beleaguered connected fitness company, which two board members have run since former CEO Barry McCarthy resigned earlier this year, saw sales grow by 0.2% during its fiscal fourth quarter. While only a modest uptick, it’s the first time Peloton (NASDAQ: NASDAQ:PTON ) posted year-over-year revenue growth since its 2021 holiday quarter. Peloton (NASDAQ: NASDAQ:PTON ) likewise indicated it’s ready to focus on profitability over growth with significant cuts to its marketing and sales spending and meaningful increases to free cash flow and adjusted EBITDA. Those cuts helped Peloton (NASDAQ: NASDAQ:PTON ) narrow its quarterly losses to $30.5 million from $241.1 million in the year-ago period. Peloton (NASDAQ: NASDAQ:PTON ) shares rose more than 21% in Thursday's trading. based on a survey of analysts by LSEG, Here’s how the Bike and Tread maker performed compared with what Wall Street was anticipating: Loss per share: 8 cents vs. 17 cents expected Revenue: $644 million vs. $631 million expected For the three-month period that ended June 30, Peloton (NASDAQ: NASDAQ:PTON ) significantly narrowed its losses. The company posted a loss of $30.5 million, or 8 cents per share, compared with a loss of $241.8 million, or 68 cents per share, a year earlier. Sales rose to $643.6 million, up about 0.2% from $642.1 million a year earlier. That’s only a $1.5 million increase, but Peloton (NASDAQ: NASDAQ:PTON ) did it at a time when sales are typically a bit slower for the company, because the quarter bleeds into the summer when people are more focused on going out and traveling than working out. The last time Peloton (NASDAQ: NASDAQ:PTON ) delivered YoY sales growth was during its holiday season in 2021, which is typically the company’s strongest quarter so far. Secondary Market Gains During the quarter, sales for Peloton’s pricy connected fitness hardware fell about 4%, continuing a trend for the company. But subscription revenue rose by 2.3%, and the segment’s gross margin increased by 1 percentage point. Though hardware sales were down, Peloton (NASDAQ: NASDAQ:PTON ) is growing its subscription revenue through the secondary market where people can buy used stationary bikes for a fraction of the cost of a new one. During the quarter, subscription revenue from hardware purchased on the secondary market grew 16% year over year. While hardware sales have hurt Peloton’s overall performance, sales for its Tread are growing after it overcame a costly recall. During the quarter, sales from Peloton’s treadmill portfolio grew 42% YoY. Peloton (NASDAQ: NASDAQ:PTON ) is also seeing some positive omens in its Bike rental program, which allowed it to clear through a glut of inventory. During the quarter, average net monthly paid subscription churn for rentals was down 1.1 percentage points. Demand has been so steady, it no longer has the refurbished inventory levels necessary to supply that side of the program. The company ceased offering its original Bike rental program on Aug. 1 and since then, has seen demand grow for its Bike+ rental, refurbished original Bike sales and financed new Bike sales. “These alternative programs have stronger unit economics than original Bike rental, with more cash paid upfront and a stronger retention profile,” the company said in its shareholder letter. Ever since Peloton’s pandemic heyday came to an end, the company has struggled to generate free cash flow and ensure it has enough assets on its balance sheet to cover its many liabilities. Earlier this year, it announced a sprawling restructuring plan that included cutting 15% of the company’s global workforce to achieve $200 million in annualized cost savings by the end of fiscal 2025. Those efforts are starting to bear fruit. During the quarter, Peloton (NASDAQ: NASDAQ:PTON ) delivered adjusted EBITDA and free cash flow for the second consecutive quarter – a feat it had not pulled off since the height of the Covid-19 pandemic. It posted $70 million of adjusted EBITDA, far more than the $53 million that analysts had expected, according to StreetAccount. That metric was up $105 million compared with the year-ago period and $64 million quarter over quarter. The company also generated $26 million in free cash flow, compared with negative $74 million in the year-ago period and $8 million in the prior quarter. Improvements to Peloton’s balance sheet come after the company completed massive refinancing of its debt that staved off a looming liquidity crunch and pushed out its debt maturities by several years. Peloton (NASDAQ: NASDAQ:PTON ) noted that the search for its next CEO is “top of mind for all stakeholders.” “The process is well underway and we look forward to sharing more when we have an announcement,” it said. Profit over growth For the year ahead, Peloton (NASDAQ: NASDAQ:PTON ) is planning to invest in its hardware and software to deliver a better user experience, among other initiatives. However, its guidance assumes that investments in these new initiatives “will not deliver subscriber growth within the fiscal year,” indicating Peloton (NASDAQ: NASDAQ:PTON ) may finally be shifting its focus away from growth in favor of profitability and free cash flow generation. That’s evidenced by its reductions to sales and marketing spending — an expense that has long dragged down Peloton’s balance sheet and has been criticized as being too high for the company’s size. During the quarter, Peloton (NASDAQ: NASDAQ:PTON ) cut sales and marketing spending by $25.5 million, or 19% year over year. It said it expects to continue to make reductions to its marketing budget throughout fiscal 2025. For the current quarter, Peloton (NASDAQ: NASDAQ:PTON ) is projecting sales to be worse than Wall Street expected but is guiding to higher-than-forecast adjusted EBITDA. The company said it anticipates sales to be between $560 million and $580 million, compared with estimates of $609 million, according to LSEG. It’s expecting to post adjusted EBITDA of $50 million to $60 million, compared with estimates of $45 million, according to StreetAccount. Street Account analysts had expected the number of connected fitness subscribers to be 2.96 million during the current quarter, but Peloton projects a range of 2.88 million to 2.89 million instead. According to LSEG, for the full year Peloton ( NASDAQ:PTON ) expects sales to be between $2.4 billion and $2.5 billion, compared with estimates of $2.7 billion. Technical Outlook As of the time of writing, Peloton (NASDAQ: NASDAQ:PTON ) stock has experienced a significant increase of 24%. This rise has led to the stock being currently overbought, as indicated by its Relative Strength Index (RSI), which stands at 71. The daily price chart shows a gap up pattern, which is a strong indicator of a potential bullish reversal in the stock's performance. Furthermore, the Moving Average Convergence Divergence (MACD) is recorded at 0.097, which points to a slight bullish momentum in the market. This suggests that there is some upward pressure on the stock, reflecting a positive sentiment among investors. In addition to these indicators, it is noteworthy that Peloton's stock is trading above both the 50-day and 100-day moving averages, reinforcing the notion that the stock is currently in a strong upward trend. This combination of factors highlights the current bullish outlook for Peloton in the market.
NASDAQ:PTONLong
by DEXWireNews
PTON Peloton Buyout or Short Squeeze PotentialPTON Peloton Interactive is currently under the spotlight due to a significant uptick in call options activity. This increased activity is focused on the $4 and $5 strike prices, with expirations on June 21 and July 19. Market analysts and investors are buzzing with speculation that this might signal an imminent buyout, takeover, merger, or even a short squeeze. Over the past week, Peloton has seen a notable surge in call options volume at the $4 and $5 strike prices. This heightened activity suggests that traders are betting on a substantial upward movement in Peloton's stock price in the very near term. June 21 Expiration: Calls expiring this Friday indicate that some traders are expecting a major announcement or significant stock price movement within days. July 19 Expiration: The larger volume of calls expiring next month shows longer-term optimism, potentially linked to upcoming strategic moves by the company. Technically, Peloton’s chart is exhibiting highly bullish patterns that support the possibility of a breakout: Falling Wedge: The stock is at the end of a falling wedge pattern, a technical indicator often associated with impending bullish reversals. Double Bottom Pattern: Additionally, Peloton is forming a double bottom, another bullish pattern that indicates strong support and a potential for a significant upward movement. These patterns suggest a robust technical setup for a breakout, with targets potentially as high as $6.50. Buyout or Merger Speculation The speculation surrounding a potential buyout by AAPL, AMZN, NKE, or a merger, is not unfounded. Peloton, despite its struggles in the past year, remains a highly attractive acquisition target due to its strong brand and substantial user base. A buyout or merger could provide the necessary capital infusion and strategic direction to reinvigorate the company’s growth trajectory. Short Squeeze Potential Adding fuel to the speculative fire is the potential for a short squeeze. If the stock begins to rise rapidly due to buyout rumors or technical breakouts, short sellers may be forced to cover their positions, driving the stock price even higher in a feedback loop of buying pressure.
NASDAQ:PTONLong
by TopgOptions
Peloton CEO McCarthy Steps Down, Company Set to Cut 15% JobsPeloton Interactive Inc. ( NASDAQ:PTON ) has announced the departure of Chief Executive Officer Barry McCarthy, amidst plans to streamline operations by slashing approximately 15% of its global workforce. The company's stock surged by approximately 9% in early trading following the announcement, reflecting investor optimism in the wake of the restructuring efforts. McCarthy, a seasoned executive with notable stints at Spotify Technology SA and Netflix Inc., has spent the past two years at the helm of Peloton ( NASDAQ:PTON ), spearheading a comprehensive overhaul aimed at reinvigorating the company's growth trajectory. Despite his efforts, Peloton has faced challenges in scaling its business amidst intensifying competition and shifting consumer preferences. The New York-based fitness equipment maker, once hailed as a pandemic darling, has witnessed a dramatic reversal of fortunes in recent years, with its stock plummeting by over 90% from its peak valuation. However, amidst the turbulence, Peloton ( NASDAQ:PTON ) remains steadfast in its commitment to innovation and adaptation. The restructuring program unveiled by Peloton ( NASDAQ:PTON ) aims to achieve annual expense reductions exceeding $200 million, as the company seeks to realign its cost structure with its current business size. This includes a strategic reassessment of its retail showroom footprint and the elimination of approximately 400 jobs. Moreover, Peloton is actively engaged in refinancing discussions with leading financial institutions, underscoring its commitment to strengthening its financial position. In addition to the organizational restructuring, Peloton ( NASDAQ:PTON ) is refining its product offerings and market approach to better resonate with evolving consumer needs. The company's partnership with Hyatt Hotels Corp. to introduce Peloton bikes in hotel facilities highlights the companies commitment to expanding its customer base and driving sales growth. Despite the headwinds, Peloton ( NASDAQ:PTON ) remains optimistic about its prospects. The company has narrowed its revenue guidance for the fiscal year, reflecting a pragmatic assessment of current market dynamics. Moreover, Peloton is doubling down on its international expansion efforts, adopting a targeted and efficient approach to penetrate new markets while leveraging its global capabilities. Technical Outlook Peloton ( NASDAQ:PTON ) stock closed Wednesday's trading on a clean slate up 3.54% gains with a Relative Strength Index (RSI) of 40.55. However, traders ought to be cautious NASDAQ:PTON stock is trading below the 200, 100 and 50-day Moving Averages (MA) respectively.
NASDAQ:PTONLong
by DEXWireNews
Peloton Faces Uphill Battle as Sales Decline PersistsPeloton Interactive Inc., ( NASDAQ:PTON ) finds itself grappling with yet another setback as the fitness technology company anticipates a sales decline in the current quarter, contrary to Wall Street expectations. Despite efforts to revive its fortunes after a pandemic-induced slump, Peloton's ( NASDAQ:PTON ) comeback initiatives have fallen short, leading to a 15% drop in its shares. The company's struggles highlight the persistent challenges it faces in reigniting growth after the stay-at-home orders boost during the early days of the Covid-19 pandemic. A Disappointing Outlook: Peloton's ( NASDAQ:PTON ) projected revenue of $700 million to $725 million for the fiscal third quarter falls well below the $755.6 million expected by analysts. This forecast signals a decline from the year-earlier period's $749 million, underscoring the company's difficulty in bouncing back. CEO Barry McCarthy acknowledges the hurdles, stating, "We continue to explore ways to ignite growth across multiple vectors. Several of these new initiatives have performed strongly. Some have not." Failed Initiatives and Market Withdrawal: One notable setback for Peloton ( NASDAQ:PTON ) is the high-profile push into the college market, initiated through a partnership with the University of Michigan. McCarthy reveals that this effort failed to generate sufficient sales and will be phased out. The company had hoped to capitalize on selling fitness equipment to colleges, alumni, and boosters but faced a significant flop. McCarthy concedes, "What seemed like a good idea didn’t deliver. So instead of launching additional co-branded bikes in school colors, we will end-of-life this hardware initiative." Subscriber Decline and Revenue Challenges: Peloton ( NASDAQ:PTON ) expects paid app subscriptions to decrease by about 13% in the current quarter, with paid subscribers to the app declining by 16% to 718,000. The company's struggle to grow "at scale" remains a significant challenge, and McCarthy suggests that revenue won't show signs of improvement until the fourth quarter. Peloton ( NASDAQ:PTON ) has been contending with declining revenue for two years, emphasizing the prolonged impact of the post-pandemic slump. Free Cash Flow and Customer Service Concerns: One crucial aspect of McCarthy's turnaround strategy is achieving positive free cash flow, which now appears unlikely in fiscal 2024. Although there is optimism about reaching the threshold in the fourth quarter, Peloton ( NASDAQ:PTON ) faces headwinds in meeting this key goal. McCarthy also addresses quality problems in customer service, admitting that these issues have "tarnished" the Peloton brand. The company is currently undergoing a "reboot" in its customer service division, promising new management, systems, and third-party vendors to enhance member experience. Positive Indicators Amid Challenges: Despite the challenges, McCarthy highlights positive aspects of the business, including a 72% increase in sales through retailers like Dick’s Sporting Goods Inc. and Amazon.com Inc. during the holidays. The bike rental program is expected to see 100% growth in fiscal 2024, and the relaunch of the high-end treadmill, following a product recall three years ago, experienced "significantly stronger" demand than anticipated. Conclusion: Peloton's ( NASDAQ:PTON ) recent struggles underscore the uphill battle the company faces in returning to growth amid a persisting sales decline. CEO Barry McCarthy's candid acknowledgment of challenges, failed initiatives, and the commitment to a turnaround strategy reveals the complexity of the company's current situation. As Peloton ( NASDAQ:PTON ) navigates through this turbulent period, its ability to address customer service concerns, adapt to market demands, and successfully implement growth initiatives will play a crucial role in shaping its future trajectory.
NASDAQ:PTONShort
by DEXWireNews
PTON Peloton Interactive Options Ahead of EarningsAnalyzing the options chain and the chart patterns of PTON Peloton Interactive prior to the earnings report this week, I would consider purchasing the 8usd strike price Calls with an expiration date of 2025-1-17, for a premium of approximately $1.45. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. PTON might be a buyout this year. From one of these giants: AAPL, AMZN or NKE!
NASDAQ:PTONLong
by TopgOptions
From TikTok Partnership to Fitness-as-a-Service Triumph Peloton Interactive Inc. (NASDAQ: NASDAQ:PTON ) has embarked on a series of strategic initiatives to revitalize its subscriber base and global brand presence. From a groundbreaking partnership with TikTok to the innovative fitness-as-a-service (FaaS) model, Peloton is making waves in the fitness industry. This article explores the recent developments that have contributed to Peloton's impressive stock surge and analyzes the potential for sustained growth. TikTok Partnership: A Social Fitness Revolution In a bold move, Peloton has joined forces with TikTok to tap into the immense popularity of the short-form mobile video platform. The introduction of #TikTokFitness marks Peloton's foray into customized social content, including live classes, class clips, and celebrity collaborations. This strategic alliance not only enhances Peloton's global brand awareness but also positions the company to leverage TikTok's influence on culture and consumer behavior. The market responded positively to the news, with Peloton shares jumping 9.6% to $6.72 but plummeted 7.4% in todays trading session, reaching their highest close since August 2023. This collaboration signifies Peloton's willingness to explore new avenues for growth and engage with potential customers beyond its traditional channels. Fitness-as-a-Service Model: Driving Subscribers and Revenue Peloton's innovative fitness-as-a-service (FaaS) model has become a key driver of its recent stock surge. The introduction of a bike rental subscription program has resonated well with consumers, offering an affordable alternative to purchasing expensive fitness equipment. A recent company survey revealed that 60% of subscribers joined Peloton due to the flexibility of the rental program. Management forecasts a staggering 90% growth in its bike rental subscription business this year, showcasing the model's traction among consumers. This shift in approach not only attracts new subscribers but also establishes a recurring revenue stream for Peloton, contributing to the company's positive outlook for the second half of the fiscal year. Strategic Collaborations: Strengthening Partnerships for Growth Peloton's partnerships extend beyond TikTok, with collaborations that include major sports teams, universities, and renowned apparel companies. In fiscal Q1 alone, Peloton teamed up with the NBA, WNBA, Liverpool Football Club, the University of Michigan, and the New York Road Runners club. Additionally, a strategic deal was inked with lululemon, emphasizing Peloton's commitment to diversifying its partnerships for improved brand awareness and financial performance. Institutional Support: Confidence in Peloton's Future Large institutional investors have demonstrated confidence in Peloton's potential for growth. Notable increases in holdings by entities such as DNB Asset Management AS and Vanguard Group Inc. underscore the belief in Peloton's ability to navigate the competitive fitness landscape successfully. Conclusion: Peloton's recent strategic moves, from the TikTok partnership to the fitness-as-a-service model, have reignited investor confidence and propelled the stock to new heights. As the company continues to diversify its collaborations and capitalize on innovative business models, the future looks promising for Peloton Interactive Inc. Investors and fitness enthusiasts alike will be keenly watching as Peloton reshapes the industry and embraces new opportunities for sustained growth.
NASDAQ:PTONLong
by DEXWireNews
A Strategic Partnership with TikTok Sparks a Fitness RevolutionPeloton Reinvents Itself: In a bold move to redefine its image and capture a broader audience, Peloton Interactive has announced a groundbreaking partnership with TikTok to develop fitness content. This collaboration not only signifies Peloton's commitment to innovation but also marks a significant departure from its traditional approach of creating content exclusively within its network. The strategic move has already seen Peloton's stock surge by 14%, showcasing the potential impact of this groundbreaking venture. The Partnership: Peloton and TikTok are set to launch a co-branded hub, offering a unique fusion of Peloton's acclaimed fitness content, including live classes and celebrity collaborations, on the widely popular social media platform. For the first time, Peloton will produce custom social content tailored for use beyond its own ecosystem. This move aligns with Peloton's broader strategy, initiated six months ago, to rebrand itself and diversify its audience through a tiered pricing structure for its app. Financial Impact: The announcement of the Peloton-TikTok partnership has triggered a remarkable 15% jump in Peloton's stock price. While this surge is a positive sign for the company, it's essential to note that Peloton's standing on Wall Street has faced challenges since its peak in 2020 when its shares soared to over $160. However, the recent collaboration could be a game-changer, potentially indicating a strategic shift that investors are responding positively to. Peloton's Evolution: Peloton's journey over the past year has been characterized by a decline in demand for its stationary bikes and treadmills as the initial pandemic-driven fitness craze waned. The company's response to this shift involved a comprehensive rebranding effort and the introduction of a tiered pricing strategy for its app. The collaboration with TikTok appears to be a pivotal part of Peloton's evolving strategy to remain relevant in a changing market landscape. TikTok's Global Influence: With over 1 billion active users globally, TikTok's collaboration with Peloton opens up new horizons for both companies. TikTok's vast and diverse user base, combined with thousands of communities dedicated to fitness activities, provides an ideal platform for Peloton to reach a wider audience. This strategic partnership not only capitalizes on TikTok's immense reach but also leverages the platform's vibrant and engaged communities to enhance Peloton's brand visibility. Technical Analysis: Peloton Interactive has broken through the ceiling of a falling trend channel in the medium long term. This indicates a slower falling rate initially, or the start of a more horizontal development. The stock has given a positive signal from the double bottom formation by a break up through the resistance at 5.48. Further rise to $6.63 or more is signaled. Conclusion: Peloton's partnership with TikTok is a bold and strategic move that signals the company's determination to adapt and thrive in a dynamic market. The positive market response, with a significant surge in stock prices, reflects investor confidence in Peloton's ability to reinvent itself and capture a broader audience through innovative collaborations. As the fitness landscape continues to evolve, Peloton's journey with TikTok may well be the catalyst for a new era in interactive and socially driven fitness experiences.
NASDAQ:PTONLong
by DEXWireNews
PTON - Shift In Momentum In Action ↗️Hello TradingView Family / Fellow Traders, 📈 NASDAQ:PTON has been overall bearish trading within the falling channel in red. PTON is currently retesting the upper bound of the channel and a strong resistance zone highlighted in green. 🏹 For the bulls to assume control and shift the momentum from bearish to bullish, we need a daily candle close above the 7.5 resistance. Meanwhile, PTON would be bearish and can still trade lower. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
NASDAQ:PTON
by TheSignalyst
PTON Peloton Interactive Options Ahead of EarningsIf you haven`t sold the massive Head and Shoulders Bearish chart patter: Or reentered ahead of a previous earnings spike: Then analyzing the options chain and the chart patterns of PTON Peloton Interactive prior to the earnings report this week, I would consider purchasing the 7usd strike price at the money calls with an expiration date of 2023-8-25, for a premium of approximately $0.72. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. Looking forward to read your opinion about it.
NASDAQ:PTONLong
by TopgOptions
1
PTON | SHORTNASDAQ:PTON if the bearish line is at 8.64, then the suggested targets are as follows: Target 1: 8.38 Target 2: 8.17 Target 3: 7.94 These levels indicate potential price points where a bearish movement may occur based on the given data. Please note that market conditions can change rapidly, and it's important to conduct thorough research and analysis before making any trading decisions. *In addition, based on the daily candlestick chart, there is also a bearish engulfing pattern observed. This pattern typically indicates a reversal of the previous bullish trend and suggests further downside potential for PTON. Combining this pattern with the mentioned bearish line and targets, it reinforces the bearish sentiment for the stock. As always, it's important to consider other factors and perform your own analysis before making any investment decisions.
NASDAQ:PTONShort
by shkspr
Buying Peloton at trend of higher lows.Peloton - 30d expiry - We look to Buy at 8.61 (stop at 7.97) The trend of higher lows is located at 8.60. Trading has been mixed and volatile. Expect trading to remain mixed and volatile. We look to buy dips. We are trading at oversold extremes. Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. Our profit targets will be 10.14 and 10.54 Resistance: 10.00 / 11.00 / 12.00 Support: 9.09 / 8.40 / 7.68 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
NASDAQ:PTONLong
by VantageMarkets
Peloton (PTON) Rallies On Strong RevenuePeloton Interactive (PTON) rallies Wednesday after the second quarter financial results of fiscal 2023. The revenue came stronger than expectations, but the loss per share disappointed investors. Here are the key points: Peloton Revenue dropped 30% from the previous year same period, at $792.7 million topping the expectations of $710 million. The Loss per share was reported at $0.98 cents worse than the expectations of $0.64. That was the eighth quarter in a row with a loss. The hardware revenue came at $381 million, much higher than the $204 million in the previous quarter. Operating loss was $335.4M for the quarter vs the loss last year of $439M. The Gross margin was 29.7%. Adjusted EBITDA was -$122M for the quarter vs. -$267M a year ago. The total number of members in the quarter fell 1% Y/Y to 6.7 million. Peloton CEO McCarthy said an epic comeback is underway as losses shrank in 4Q, calling it a turning point as they generated more sales from subscriptions vs connected fitness products for Q3. The CEO also said that headcount reductions are over. Peloton Outlook The company now sees third-quarter FY23 revenue of $690 million to $715 million, against the consensus of $692.14 million. Peloton expects third-quarter gross margin of 39% and Q3 ending connected fitness subscriptions between 3.08 million to 3.09 million. Peloton Stock As of writing Peloton stock is 20.57% higher at $15.59 on strong volume, boosted by the earnings report and short covering; the short interest was almost 15%. PTON today hit the highest level since May 2022. The stock entered bullish territory in late January when the price breached above the 200-day moving average. The strong move today has also moved the price to an extremely overbought level as indicated by the RSI index which currently trades at 75.17 ringing a warning bell. The stock has a 52-week trading range between $6.66 and $40.35. The market capitalization stands at $4.4 billion. On January 11, Morgan Stanley maintains Peloton Iat Equal-Weight and cut the price target from $5 to $4.5. Goldman Sachs on November 4, kept Peloton Interactive at Neutral and cut the price target from $18 to $12.
NASDAQ:PTON
by Eventstra
Peloton remains a short.Peloton - 30d expiry - We look to Sell at 12.98 (stop at 14.41) The primary trend remains bearish. This stock has seen poor sales growth. The trend of lower highs is located at 13.15. The previous swing high is located at 13.35. Preferred trade is to sell into rallies. We look for a temporary move higher. Our profit targets will be 9.41 and 9.01 Resistance: 12.15 / 12.75 / 13.35 Support: 10.19 / 10.00 / 9.30 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
NASDAQ:PTONShort
by VantageMarkets
1