Telsey reiterates Market Perform rating on Peloton stock despite earnings beat

Published 08/08/2025, 11:06
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Investing.com - Telsey Advisory Group maintained its Market Perform rating and $8.00 price target on Peloton Interactive (NASDAQ:PTON) following the company’s fourth-quarter fiscal 2025 results. According to InvestingPro data, the stock has gained 7.7% over the past week, though it remains volatile with a beta of 2.09.

Peloton reported adjusted EBITDA of $140 million for the quarter, significantly exceeding Telsey’s forecast of $85 million and the company’s guidance range of $66-85 million. The outperformance was attributed to strong execution, cost savings benefits, and higher-than-anticipated hardware sales across both Peloton and Precor products. Despite this improvement, InvestingPro analysis shows the company remains unprofitable with a net loss of $171 million in the last twelve months, though it maintains healthy liquidity with a current ratio of 1.65.

The fitness equipment maker issued fiscal 2026 guidance calling for adjusted EBITDA between $400-450 million, above Telsey’s estimate of $359 million. Management announced a new $100 million cost savings plan and projected a return to positive revenue growth from the second through fourth quarters of fiscal 2026, which would mark the first topline growth since the second quarter of fiscal 2022.

Despite these positive developments, Telsey noted that Peloton’s leadership provided limited specifics during the earnings call regarding new products and higher pricing strategies. The firm also expressed concern about the first-quarter fiscal 2026 guidance, which calls for sales to decline approximately 9% year-over-year, worse than the roughly 6% decline in the fourth quarter of fiscal 2025.

Telsey maintained its Market Perform rating based on concerns about stabilizing subscriber trends, the lack of a clear roadmap to sales growth, and continued pressure on consumer spending for big-ticket items. The firm’s $8 price target represents an enterprise value-to-sales multiple of approximately 1.5 times its revised fiscal 2026 sales estimate of $2.47 billion. InvestingPro analysis suggests the stock is currently slightly undervalued, with additional insights available in the comprehensive Pro Research Report, which covers this and 1,400+ other US stocks with detailed metrics and expert analysis.

In other recent news, Peloton Interactive reported impressive financial results for Q4 2025, surpassing analyst expectations. The company announced an earnings per share (EPS) of $0.05, significantly beating the forecasted EPS of -$0.05. Additionally, Peloton’s revenue reached $607 million, exceeding the anticipated $580.54 million and marking a 4.54% surprise. In another development, Goldman Sachs upgraded Peloton’s stock from Neutral to Buy, raising its price target from $7.00 to $11.50. This upgrade was attributed to new management initiatives aimed at platform growth and monetization, which could lead to higher incremental returns on capital. These recent developments reflect a positive shift in Peloton’s strategic direction and financial performance.

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