Peloton (PTON) to Cut 15% Staff, Announces Cost Reduction
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 9/8/2026
- S&P 500 falls as AI worries hit software makers
- Brent crude hits six-week high near $97 as Houthi strike targets Saudi Aramco
- Qualcomm stock surges 9.5% on Amazon AI deal & 25M share warrant
- Energy stocks rise premarket as oil prices climb on Middle East supply fears
- Novartis shares plunge 10% as failed drug trial clouds growth outlook
- Citi initiates UiPath coverage with Buy rating and $23 target
- Harry and Meghan surprised by King Charles' letter on their status
- S&P 500 falls as AI worries hit software makers
- WestPark Capital Starts Akebia Therapeutics (AKBA) at Buy
- After an 18% summer selloff in chip stocks, Citi asks what comes next
- After-Hours Movers: LULU, IOT, PATH, DOCU, ASAN, GWRE, ZS, PL, SWBI, OXM
- After-Hours Movers: AVGO, SNOW, HPE, NTAP, NTSK, CHPT, FIVE, TLYS, PVH, RARE
- After-Hours Movers: DELL, PANW, GTLB, CRDO, MDB, HPE, SMCI
- After-Hours Movers: WDAY, ADSK, S, RBRK, MRVL, ULTA, GAP, AFRM
- After-Hours Movers: NVDA, CRM, SNPS, CRWD, OKTA, NTNX
Peloton Interactive (PTON) PT Lowered to $3.50 at Goldman Sachs
May 3, 2024 6:02 AM EDTGoldman Sachs analyst Eric Sheridan lowered the price target on Peloton Interactive (NASDAQ: PTON) to $3.50 (from $5.75) while maintaining a Neutral rating.
The analyst comments "Peloton's 3FQ24 earnings report reflected a few key themes: a) a continued overall muted demand environment for the category and dynamics around the companys go-to-market strategy driving near-term subscriber headwinds; b) Peloton... More
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
