Why Peloton Shares Are Falling

Peloton Interactive Inc shares are trading lower after the company reported worse-than-expected first-quarter EPS and sales results. The stock may also be seeing added pressure following positive data from Pfizer for its COVID-19 oral antiviral treatment candidate. Peloton is widely considered a stay-at-home play during the ongoing COVID-19 pandemic.

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Peloton reported quarterly losses of $1.25 per share which missed the analyst consensus estimate of a loss of $1.07 by 17%. Peloton reported quarterly sales of $805.20 million which missed the analyst consensus estimate of $810.76 million by 0.7%. This is a 6% increase over sales of $757.90 million in the same period last year.

See Also: Why Pfizer Shares Are Surging Today

Several anaylsts have updated their price targets for Peloton following the first-quarter earnings release:

• Keybanc analyst Edward Yruma maintains Peloton with a Overweight and lowers the price target from $155 to $110.
• Telsey Advisory Group analyst Dana Telsey downgrades Peloton from Outperform to Market Perform and lowers the price target from $135 to $70.
• Stifel analyst Scott Devitt downgrades Pelotonfrom Buy to Hold and lowers the price target from $120 to $70.
• Truist Securities analyst Youssef Squali downgrades Peloton from Buy to Hold and lowers the price target from $130 to $68.
• Exane BNP Paribas analyst Laurent Vasilescu downgrades Peloton from Outperform to Neutral and announces $89 price target.
• Needham analyst Bernie McTernan maintains Peloton with a Buy and lowers the price target from $130 to $105.
• Credit Suisse analyst Kaumil Gajrawala maintains Peloton with a Outperform and lowers the price target from $148 to $112.

Peloton provides interactive fitness products in North America and internationally. It offers connected fitness products with touchscreen that streams live and on-demand classes under the Peloton Bike, Peloton Bike+, Peloton Tread and Peloton Tread+ names.

Peloton has a 52-week high of $171.09 and a 52-week low of $80.48.