After analyzing the top 50 best-selling exercise bikes on Amazon (AMZN), JMP Securities believes Peloton, with 600-plus Bike sales over the last month, represents 1% of unit sales but 19% of sales revenue for the category. This "rough estimate" supports the view that Peloton’s category position is strengthening coming out of COVID, the analyst tells investors in a research note. The firm continues to view Peloton as offering a "best-in-class customer experience and hardware product." However, JMP awaits more certainty that the category has stabilized before recommending the shares.
Published first on TheFly
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