|Bid||0.00 x 900|
|Ask||0.00 x 2900|
|Day's range||13.06 - 14.58|
|52-week range||11.25 - 129.70|
|Beta (5Y monthly)||1.25|
|PE ratio (TTM)||N/A|
|Earnings date||10 May 2022|
|Forward dividend & yield||N/A (N/A)|
|1y target est||23.57|
On a day that the stock market is up over 1% overall, we have seen shares of Peloton Interactive (NASDAQ: PTON) drop as much as 10%. The market continues to try to figure out what to do with a potential U.S. recession, rising interest rates, and a shift away from pandemic stocks. Today's loudest voice was the Financial Times, which highlighted that Peloton actually has an inventory problem on its hands now that demand for bikes and treadmills has fallen.
...led us to carry too much inventory, particularly in bulky categories, including kitchen appliances, TVs and outdoor furniture. First, note the cyclicality of the business through the course of any given year: Inventory piles up in the third quarter in anticipation of the all-important holiday season.
Peloton Interactive's (NASDAQ: PTON) share price recently hit a 52-week low of $11.25 after trading as high as $171 over a year ago. With the introduction of vaccines allowing people to return to work, gyms, and elsewhere, there was some reduction in the need for and the use of Peloton equipment and services. On the other side of the ledger, the growth opportunities in the virtual fitness market have been estimated as rising to $79 billion by 2026 (from $11.4 billion in 2021).