#6 - Peloton (NASDAQ:PTON)
Peloton (NASDAQ:PTON) is another company that continues to show strength despite gyms and fitness centers reopening. Like Blue Apron, Peloton was seen as a “fad stock” that would quickly recede once the nation reopened.
That hasn’t occurred. Shares of PTON have nearly doubled since the start of the year with the bulk of that coming in the last month.
But let’s be honest, it still could. Many well-intended resolutions are expensive clothes hangers. But habits are funny things. The business case for Peloton is actually not that much different from work-from-home stocks. There is a large contingent of fitness enthusiasts who enjoy the social, and accountability, aspects of a gym. They also see it as a more cost-effective option.
But if you’ve already committed to the cost of buying a Peloton bike, then at least one of those arguments carries less weight. Particularly since Peloton emphasizes that riders are part of a community. In that regard, Peloton has a first-mover advantage over its competitors. The question for now is can Peloton hold on to or extend that lead?
About Peloton Interactive
Peloton Interactive, Inc operates interactive fitness platform in North America and internationally. The company offers connected fitness products with touchscreen that streams live and on-demand classes under the Peloton Bike, Peloton Bike+, Peloton Tread, Peloton Tread+, Peloton Guide, and Peloton Row names.
Read More - Current Price
- $9.38
- Consensus Rating
- Hold
- Ratings Breakdown
- 3 Buy Ratings, 16 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $6.97 (25.7% Downside)
