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Peloton Interactive (NASDAQ:PTON) Muscles Through Black Friday Sales

Story Highlights

Peloton Interactive saw solid demand for its “discounted” offerings on Black Friday. The company certainly hopes that the good times continue well into the holiday season.

American exercise equipment and media company Peloton Interactive (NASDAQ:PTON) may have registered robust sales on Black Friday, as per Adobe Analytics data.

The data indicated that the company’s exercise equipment was one of the most frequently appearing items on consumers’ holiday shopping lists over the weekend. Also, the figures showed that sales of the exercise equipment category jumped more than 200% over the prior year’s sales.

Peloton prepared decisively for the holiday season and offered massive discounts on its products on Black Friday. The company even continued with its discounted offerings on Cyber Monday on Amazon.com’s (NASDAQ:AMZN) platform. It displayed its most sought-after original Peloton bike, along with other popular products. Peloton’s discounts on Black Friday even surpassed the numbers offered on Amazon’s Prime Day event when it was a top seller.

Interestingly, this year’s Black Friday witnessed softer sales as per Adobe Analytics, and companies hoped that Cyber Monday would be a better day.

Is Peloton a Buy or Sell?

Wall Street analysts are split on Peloton’s stock trajectory. On TipRanks, PTON stock has a Moderate Buy consensus rating based on nine Buys, ten Holds, and two Sells. Also, the average Peloton price forecast of $12.38 implies 22.1% upside potential to current levels.

PTON stock, a long-lost favorite of memeters, has collapsed 71.2% year to date while rising 20.7% in the past month. Although PTON’s price/sales multiple of 0.93x is currently trading at an 82.7% discount to its five-year average, the average investor is wary of the wild fluctuations accompanied by meme stocks and prefers to steer clear of them.

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