#4 - Peloton (NASDAQ:PTON)
Another stock that Robinhood investors have been snapping up is Peloton (NASDAQ:PTON). In fact, Peloton is the ninth most popular stock on the trading app.
Peloton, if you’ll recall started off the year with a bit of controversy stemming from its holiday ad. But, as it turns out the Peloton couple (or at least the company) is getting the last laugh. To be fair, nobody could have predicted the incredible catalyst that Peloton received at the expense of gyms and fitness clubs. Many of those workout spots may never reopen. And in the meantime, many fitness enthusiasts have had the opportunity to test drive Peloton’s products as well as its community feel.
And it seems they’re liking it. In its most recent earnings report, the company reported that its subscriber base had climbed to 1 milllion users and increase of 113%. Overall, the company has 3.1 million global subscribers.
Cynics may site that we’ve seen this before. And fitness equipment has frequently the casualty of failed new year’s resolutions. But the fitness trend in this country is still expanding. The only question is the methods that consumers are using. Will consumers remain committed to Peloton after the pandemic subsides? That’s hard to say. But with the stock up 206% for the year, I’d say it’s been a great investment.
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
- $9.52
- Consensus Rating
- Hold
- Ratings Breakdown
- 3 Buy Ratings, 15 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $6.75 (29.1% Downside)
