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UBS has maintained a Neutral rating on Peloton, setting a price target of $10.00, while highlighting significant cost reduction opportunities, particularly in general and administrative expenses. With G&A costs currently at twice pre-pandemic levels, Peloton aims to cut these to about half of their current sales proportion, potentially saving over $200 million. As the company prepares for new leadership, it focuses on optimizing costs to stabilize its financial position, supported by a healthy liquidity ratio and a growing subscriber base generating substantial revenue.
Peloton Interactive's stock surged 8% to $10.39 following UBS's upgrade from "sell" to "neutral," with a price target increase from $2.50 to $10.00. Analysts cited the company's cost-cutting measures and the upcoming leadership of new CEO Peter Stern as key factors for optimism, predicting EBITDA exceeding $200 million.
Peloton has appointed Peter Stern, a Ford executive and cofounder of Apple Fitness+, as its new CEO, effective January 1. Stern, who has been a Peloton member since 2016, brings extensive experience in subscription services and product innovation, aiming to enhance the company's high-margin recurring revenue model. Interim co-CEO Karen Boone will remain until year-end, while Chris Bruzzo steps down from his role.
Peloton Interactive Inc. has appointed Peter Stern, a Ford Motor Co. executive, as its new CEO, effective January 1, to spearhead a turnaround for the struggling fitness company. In its latest financial report, Peloton projected second-quarter revenue between $640 million and $660 million, reflecting a 13% decline from the previous year and falling short of analysts' expectations of $663.5 million.
Peter Stern
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