Long Position on PTON @ $85.50 on 9/16/2020 (Momentum)

Peloton Interactive, Inc. (PTON) provides interactive fitness products in North America.

It offers connected fitness products, such as the Peloton Bike and the Peloton Tread, which include touchscreen that streams live and on-demand classes.

The company also provides connected fitness subscriptions for multiple household users, and access to all live and on-demand classes, as well as Peloton Digital app for connected fitness subscribers to provide access to its classes. It has approximately 1.4 million members.

The company markets and sells its interactive fitness products directly through its retail showrooms and at onepeloton.com Peloton Interactive, Inc. was founded in 2012 and is headquartered in New York, New York.

Peloton Interactive, Inc. reported Quarter June 2020 earnings of $0.27 per share on revenue of $607.1 million. The consensus earnings estimate was $0.10 per share on revenue of $566.5 million. 

The company said in its shareholders letter it expects first quarter revenue of $720.0 million to $730.0 million. The current consensus revenue estimate is $458.7 million for the quarter ending September 30, 2020. The company also said it expects fiscal 2021 revenue of $3.50 billion to $3.65 billion. The current consensus estimate is revenue of $2.60 billion for the year ending June 30, 2021.

Apple has recently issued a new product that supports Peloton's platform. This should drive share prices higher.

Entry Point: $85.50

Stop Loss: $81.25

Trading Range: $17.70 to $98.61

Target Price: $94.00

Updates

9/23/2020 10:51:57 AM

PTON closed at $99.00

Position closed on 9/23/2020 at price of $99.00 with a 15.79% gain in 7 days.

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