Peloton Falls as Analyst Factors to One other Tender Quarter By Investing.com
From Dhirendra Tripathi
Investing.com – Peloton stock (NASDAQ 🙂 fell 0.5% on Tuesday as a Raymond James analyst pointed to another weak quarter for the company.
According to StreetInsider, analyst Aaron Kessler maintains his market performance assessment of the fitness equipment maker while pointing out the latest data suggesting declining demand and rising costs amid supply chain bottlenecks.
One of the pandemic’s biggest winners when people stayed home and bought the company’s equipment to keep fit, Peloton was shocked when people ditched their equipment to exercise outside after the economy reopened. His attempts to open up the mass market by lowering the price of his flagship exercise bike also failed because the image of being a manufacturer of high-end products got in the way.
For the current quarter, Peloton expects sales between 1.1 and 1.2 billion US dollars. For the full year, the company expects sales of $ 4.4 billion to $ 4.8 billion.
According to Kessler, both quarterly and annual estimates are aggressive as the company factored in a stronger seasonal return in the current quarter.
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