FMP
Peloton Q4 Earnings Preview
Aug 28, 2021 2:04 AM - Davit Kirakosyan
Image credit: FMP
Peloton Interactive Inc. (NASDAQ: PTON) will report fiscal Q4 results this Thursday. Wall Street analysts have an average Overweight rating on the company with price targets ranging from $45 to $185. Shares closed 1.37% lower on Monday at $106.59.
Analysts expect the company to post a revenue of $923.5 million and $0.34 EPS loss vs. revenue of $607.1 million and $0.27 EPS in the same quarter last year.
The company saw a decline in its stock price at the start of the year, but climbed back from May when the news on Delta variant hit the US headlines.
Oppenheimer analysts lowered their revenue estimates by 6% to $4.98 billion ahead of Q4 report, as 3P data suggests a slowdown in June/July product deliveries and connected-fitness sub growth. Analysts mentioned that the outgoing visits to Affirm.com (onepeloton.com to affirm.com has an 88% correlation to hardware (Bikes + Treads) deliveries) declined 38% quarter-on-quarter. While the brokerage believes the company will meet Q4 connected-fitness sub expectations on shorter-delivery times, it now expects 2022 guidance to be more conservative, and below consensus expectations.
However, Oppenheimer analysts mentioned that they remain long-term bulls on the company and will use post-quarter weakness as a buying opportunity.
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