Peloton Interactive has soared nearly 115% in 2020, as the pandemic has closed gyms and refocused consumers’ attention on health and wellness. Yet UBS warns that all the good news may already be reflected in the share price.
He said in a research note that demand for at-home connected fitness products and the company’s higher subscription rates have prompted him to raise his estimates for revenue. And his research points to better-than-expected trends for the company as many consumers have adapted to stay-at-home fitness.
Not many analysts have been willing to be cautious about Peloton. It is no surprise, given that the shares have surged 114.4% in 2020. Even those that are dialing back their expectations are still bullish.
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