PELOTON INTERACTIVE, INC.

(PTON)
  Report
Delayed Nasdaq  -  05/18 04:00:00 pm EDT
14.42 USD   -7.27%
05:01pPeloton Interactive, Inc. Announces Participation in the J.P. Morgan Global Technology, Media and Communications Conference
GL
05:00pPeloton Interactive, Inc. Announces Participation in the J.P. Morgan Global Technology, Media and Communications Conference
AQ
11:09aUBS Adjusts Peloton Interactive Price Target to $13 From $30, Maintains Sell Rating
MT
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Peloton plans workforce size review, production changes

01/21/2022 | 12:25am EDT
FILE PHOTO: A Peloton logo is seen after the ringing of the opening bell for the company's IPO at the Nasdaq Market site in New York City

(Reuters) - Peloton Interactive Inc's chief executive said on Thursday the company was reviewing the size of its workforce and "resetting" production levels, following a report earlier in the day that it was temporarily halting production of connected fitness bikes and treadmills after a significant drop in demand.

Shares in the exercise bike maker, once a pandemic darling, closed down 24% at about $24, wiping off nearly $2.5 billion in market value.

"We now need to evaluate our organization structure and size of our team," CEO John Foley said. "And we are still in the process of considering all options ... to make our business more flexible."

According to the CNBC report, Peloton, in a confidential presentation dated Jan. 10, said it had seen a "significant reduction" in demand and that it planned to pause bike production in February and March. It also won't manufacture the Tread treadmill machine for six weeks, beginning next month.

"Rumors that we are halting all production of bikes and Treads are false," Foley said.

Peloton earlier in the day said it was taking "significant corrective actions" to improve its profitability and estimated second-quarter revenue to be about $1.14 billion, compared with its previous forecast of $1.1 billion to $1.2 billion.

The company has seen a slump in demand for its fitness classes and equipment as people venture out of their houses to hit gyms again following gradual easing of pandemic-related curbs.

"During the pandemic, there was too little supply to meet the growing demand. Unfortunately, the company took those cues to bulk up supply just as demand began to falter," BMO Capital Markets analyst Simeon Siegel said.

Peloton has been working with consulting firm McKinsey & Co for a review of its cost structure and could cut jobs, CNBC reported earlier this week.

(Reporting by Kannaki Deka and Akanksha Khushi in Bengaluru; Additional reporting by Nathan Gomes, Aishwarya Nair and Akriti Sharma; Editing by Vinay Dwivedi, Sriraj Kalluvila and Shounak Dasgupta)


ę Reuters 2022
All news about PELOTON INTERACTIVE, INC.
05:01pPeloton Interactive, Inc. Announces Participation in the J.P. Morgan Global Technology,..
GL
05:00pPeloton Interactive, Inc. Announces Participation in the J.P. Morgan Global Technology,..
AQ
11:09aUBS Adjusts Peloton Interactive Price Target to $13 From $30, Maintains Sell Rating
MT
10:31aPeloton launches $750M 1st-lien leveraged loan for GCP; commitments due today
AQ
05/17Peloton Receives Two-Times Orders For $750 Mln Loan Sale
MT
05/16SECTOR UPDATE : Consumer Staples Stocks Hang on for Modest Monday Gains
MT
05/16SECTOR UPDATE : Consumer Discretionary Stumble Monday as Investor Again Shun Riskier Asset..
MT
05/16SECTOR UPDATE : Consumer
MT
05/16Peloton Interactive, iFIT Reach Settlement to Dismiss All Pending Litigation
MT
05/16Peloton and iFIT Announce Settlement of All Pending Litigation
PR
More news
Analyst Recommendations on PELOTON INTERACTIVE, INC.
More recommendations
Financials (USD)
Sales 2022 3 637 M - -
Net income 2022 -1 711 M - -
Net cash 2022 2,31 M - -
P/E ratio 2022 -2,78x
Yield 2022 -
Capitalization 4 865 M 4 865 M -
EV / Sales 2022 1,34x
EV / Sales 2023 1,34x
Nbr of Employees 8 662
Free-Float 88,4%
Chart PELOTON INTERACTIVE, INC.
Duration : Period :
Peloton Interactive, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends PELOTON INTERACTIVE, INC.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 30
Last Close Price 14,42 $
Average target price 23,18 $
Spread / Average Target 60,7%
EPS Revisions
Managers and Directors
Barry W. McCarthy President, Chief Executive Officer & Director
Jill Woodworth Chief Financial Officer
John Foley Executive Chairman
Yony Feng Chief Technology Officer
Shobz Ahluwalia Chief Information Officer
Sector and Competitors
1st jan.Capi. (M$)
PELOTON INTERACTIVE, INC.-59.68%5 246
FLUIDRA, S.A.-36.88%4 575
CALLAWAY GOLF COMPANY-25.44%4 030
ASICS CORPORATION-8.51%3 301
ACUSHNET HOLDINGS CORP.-22.76%3 103
MIPS AB (PUBL)-45.80%1 697