#4 - Peloton (NASDAQ:PTON)
The Peloton (NASDAQ:PTON) commercial isn’t looking so off-brand these days is it? It seems like a lifetime ago, but late last year, Peloton created quite the stir with an ad that came across to many consumers as anything but the empowering message the brand intended. However, with gyms closing all around America, consumers are looking for ways to keep their fitness regimen going. And Peloton is there to be the hero.
According to Evercore ISI analyst Lee Horowitz via MarketWatch, March downloads of the Peloton app have increased five times compared to February. This was based on a review of third-party app data from Sensor Tower. Wrote Horowitz, “We are seeing Peloton subscriber growth and engagement clearly benefiting from global quarantines.”
PTON stock climbed nearly 10% in the week of trading that ended March 27. The stock is still down for the year. However, like many stocks benefiting from the coronavirus, PTON stock’s performance now looks less bad than the broader market.
Of course, like Blue Apron, there’s no guarantee that Peloton will continue to benefit once customers are released back to their local gym. But you have to believe that there will be a certain amount of “stickiness” as users feel part of an online community.
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)
