Peloton Interactive Inc is a fitness and technology company that specializes in creating innovative exercise equipment and digital fitness content. It is best known for its high-quality stationary bikes and treadmills that come equipped with interactive screens, allowing users to participate in live and on-demand workout classes led by experienced instructors. Additionally, Peloton offers a subscription-based platform that provides access to a wide variety of fitness programs, including cycling, running, strength training, yoga, and more, fostering a connected community of fitness enthusiasts. By merging technology with fitness, Peloton aims to provide an engaging and motivating workout experience, allowing individuals to achieve their fitness goals from the comfort of their homes.
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Shares of exercise equipment company Peloton (NASDAQ:PTON)
jumped 9.4% in the morning session after it received a double rating upgrade from Bank of America analyst Curtis Nagle. The analyst raised Peloton's rating from Underperform (Sell) to Buy and increased the price target from $3.7 to $9, as the announcement of a new CEO raised the hopes of a turnaround.
Peloton (NASDAQ: PTON) published its fourth annual environmental, social, and governance (ESG) report today, highlighting progress made in the 2024 fiscal year (FY) towards its social and environmental impact goals.
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Shares of exercise equipment company Peloton (NASDAQ:PTON)
jumped 28.3% in the morning session after the company reported impressive third-quarter earnings. EBITDA handily beat Wall Street's estimates. In addition, Peloton's optimistic EBITDA forecast for the next quarter blew past analysts' expectations. On the other hand, its revenue guidance for next quarter came in slightly below Wall Street's estimates.
Separately, the company announced Peter Stern, as CEO and President effective January 1, 2025. Mr Stern previously served as President of Ford Integrated Services and also held leadership roles at Apple and Time Warner Cable.
Zooming out, we think this was a strong quarter with hopes for renewed optimism under the new leadership.
