UBS analyst Arpine Kocharyan cut her price target on Peloton stock to $4 from $8, and kept a Sell rating. She also cut sales and Ebitda estimates.
Peloton Interactive stock should continue its descent, said one UBS analyst who is pessimistic on the future of the at-home-fitness company’s growth.
Kocharyan said in a research note that her continued bearish stance on the stock comes from increased uncertainty over subscription growth “given increased uncertainty over subs growth outlook.” However, CEO Barry McCarthy said in Peloton’s fourth-quarter shareholder letter that “the slowdown exceeded our expectations through May and through the first three weeks of June as consumer spending shifted toward travel and experiences.”
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