Macquarie analyst Paul Golding lowered the firm’s price target on Peloton to $2.53 from $4.50 and keeps a Neutral rating on the shares after Q3 revenue missed market expectations on hardware and the company announced CEO Barry McCarthy is exiting. The firm remains cautious on Peloton as it notes that the company has to execute on a simultaneous costout and top-line recovery amid a management change.
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Read More on PTON:
- Peloton Announces Executive Leadership Transition and Strategy
- PTON Earnings: Peloton Plunges After CEO Steps Down; Layoffs Upcoming
- Peloton sees FY24 revenue $2.675B-$2.7B, consensus $2.71B
- Peloton reports Q3 revenue $717.7M, consensus $723.21M
- Peloton Interactive Unveils Restructuring for Enhanced Profitability
