Cowen Downgrades Peloton Interactive (PTON) to Market Perform

November 21, 2022 4:03 PM EST
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Price: $16.28 -4.12%

Rating Summary:
    17 Buy, 17 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 10 | Down: 32 | New: 9
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(Updated - November 21, 2022 4:10 PM EST)

Cowen analyst John Blackledge downgraded Peloton Interactive (NASDAQ: PTON) from Outperform to Market Perform with a price target of $12.00.

The analyst comments "We downgrade PTON to Market Perform on challenging post-pandemic trajectory and demand uncertainty amid turnaround effort. Our proprietary survey data also reflects a stabilization in consumer interest, but at lower levels relative to pre-pandemic demand. We cut '23-'27 estimates, Price Target to $12, downgrade to Market Perform."

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 $10.31 yesterday.

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