Raymond James' 4 Takeaways From Peloton Interactive (PTON) Investor Meeting

Raymond James analyst Aaron Kessler reiterated an Outperform rating on Peloton Interactive (NASDAQ: PTON) after the company provided an update on its most important strategic priorities, an overview of the company's new products, and provided thoughts on the FY21 opportunity. Key takeaways include:

1) Long-term opportunity to reach 100M subscribers (vs. 1.5M today across Connected Fitness and Digital)

2) SAM has grown to 20M HH (up 43%) with COVID-19 accelerating adoption and fast growth from younger users (25-34) and those under $100k in income

3) Vertically integrated model should continue to be a key competitive moat (hardware, software, media, retail, logistics)

4) Engagement trends remain strong – 2 new verticals in next few months (vs. 10 today), traction with new artist and music series, continued class diversification (cycling now 63% in FY20 vs. 94% of classes in FY17).

For an analyst ratings summary and ratings history on Peloton Interactive click here. For more ratings news on Peloton Interactive click here.

Shares of Peloton Interactive closed at $86.40 yesterday.

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