These Analysts Revise Their Forecasts On Peloton Interactive After Q2 Earnings

Author: Avi Kapoor | August 23, 2024 09:11am

Peloton Interactive, Inc. (NASDAQ:PTON) reported better-than-expected second-quarter financial results on Thursday.

The company's quarterly losses dropped to $30.5 million from $241.1 million compared to the same period last year while its sales rose to $643.6 million, up from $642.1 million a year earlier and exceeding analyst expectations of $630.48 million, according to data from Benzinga Pro

Peloton Interactive shares climbed 35.4% to close at $4.55 on Thursday.

These analysts made changes to their price targets on Peloton Interactive following earnings announcement.

• JP Morgan analyst Doug Anmuth downgraded Peloton Interactive from Overweight to Neutral and lowered the price target from $7 to $5.
• Canaccord Genuity analyst Michael Graham maintained Peloton Interactive with a Hold and raised the price target from $4 to $5.
• TD Cowen analyst John Blackledge maintained Peloton Interactive with a Hold and raised the price target from $3 to $4.

Considering buying PTON stock? Here’s what analysts think:

Posted In: PTON