World of Hyatt (H) and Peloton (PTON) Team Up with Plans to Reward Members for Wellbeing
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Telsey Comments on Peloton Interactive (PTON)
May 3, 2024 5:44 AM EDTTelsey analyst Dana Telsey reiterated a Market Perform rating and $4.00 price target on Peloton Interactive (NASDAQ: PTON).
The analyst comments "Peloton had two big announcements today in the form of the departure of CEO Barry McCarthy after just over two years in the role and a large $200MM restructuring program that will eliminate 15% of the company's global workforce. These announcements overshadowed a return to positive FCF and better-than-expected adjusted EBITDA in... More
Bernstein SocGen Group Downgrades Peloton Interactive (PTON) to Market Perform
May 3, 2024 5:15 AM EDTBernstein SocGen Group analyst Aneesha Sherman downgraded Peloton Interactive (NASDAQ: PTON) from Outperform to Market Perform with a price target of $3.80.
The analyst comments "The key question in the PTON investment thesis is: can this business ever grow again? New mgmt, cost-cuts... More
Peloton (PTON) to lay off 15% of global workforce, CEO to step down
May 2, 2024 7:37 AM EDT(Updated - May 2, 2024 9:59 AM EDT)
Peloton (NASDAQ: PTON) shares opened higher Thursday before giving up those gains and more after the company announced cost-cutting measures and a change in its top leadership. The fitness equipment and media company reported third-quarter earnings that fell short of analyst expectations by $0.09, posting an adjusted loss per share of -$0.45 compared to the estimated -$0.36. Despite this, revenue for the quarter was nearly in line with consensus estimates, totaling $717.7 million against an expected $718 million.
The company's revenue declined from the same quarter last year, when it reported... More
