PTON Stock Dropped More Than 17.48% Today

PTON Stock is down 17.48% today and trading around $12.33 per share. Usually, Peloton Interactive, Inc. shares trade within the $2.07 range, so this move is significant. We are seeing a dive in the overall market, but with Peleton dropping more significantly than other similar companies in the space.

Peleton hits 52 Week Low

PTON has just dropped below their 52-Week Low, and is trading around $14.06. If PTON ends up closing below its previous all-time low, this will be very bearish. Alternatively, if PTON is able to close above its previous 52 week low, we may be in for a rebound. Given the overall market trend I don;t think we've seen the bottom yet for Peleton, even though analysts are still indicating a buy or hold rating on the stock

Citigroup upgrades PTON to buy

Citigroup just released their rating for PTON. As of Apr 20, 2022 Citigroup rates PTON as a buy, compared to their previous rating of hold for PTON.

Here is the current analyst rating distribution for PTON. In total there are 28 PTON analyst ratings.

18 Buys
9 Holds
1 Sells

Analyst Ratings have provided relatively strong indicators of future price movement, which is why they are used to determine a PTON stock forecast. However, this shouldn't be the only factor when determining whether to invest in Peloton Interactive, Inc., I would use Analyst Ratings as a datapoint along with other fundamental indicators and investment metrics.

Peleton Stock News

Peloton Interactive Inc (NASDAQ: PTON) reported a third-quarter FY22 sales decline of 24% year-on-year to $964.3 million, missing the consensus of $972.88 million. Ending digital subscriptions rose 10% Y/Y to 0.976 million, and ending connected fitness subscriptions grew 42%
We finished the quarter with $879 million in unrestricted cash and cash equivalents, which leaves us thinly capitalized for a business of our scale.

Based on the most recent news I don't think we've seen the bottom yet for Peleton.