Morgan Stanley analyst Lauren Schenk notes that data from Similarweb indicate that Peloton web traffic decelerated to down 27% year-over-year in fiscal Q3 without the help of the "significant promotions" observed in fiscal Q2. The firm, which sees "slight upside" to management’s net add guidance, but thinks "the material beat bulls were initially hoping for is unlikely," has an Equal Weight rating and $4.50 price target on Peloton shares.
Published first on TheFly
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