#3 - Peloton (NASDAQ:PTON)
The next company on the list may surprise you as a tech company, but Peloton (NASDAQ:PTON) is as much a tech company as it is a fitness company. And if you need evidence of that once again you have to look no further than Apple.
Although in response to the Apple One bundle that includes Apple Fitness, Peloton’s chief executive officer said that its fitness equipment was its “secret sauce” that will be a differentiator. But he may be playing things a little coy. Peloton is managing to give its customers a “gym-like” experience in the privacy (and safety) of their own homes.
It makes sense. People aren’t just going to part with the kind of money they pay for a Peloton bike or treadmill just to get a good sweat. Peloton provides interactive streaming content and the ability to be part of a social community. That’s a benefit that fitness companies, and even a service like Apple, will find hard to match in the short term. And that gives Peloton a nice runway.
The stock isn’t on sale because of the selloff in the tech sector. However at the time of this writing, PTON stock is down about 10% from its recent high of just over $91 per share.
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
- $9.06
- Consensus Rating
- Hold
- Ratings Breakdown
- 3 Buy Ratings, 15 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $6.75 (25.5% Downside)
