Peloton launches a new exercise bike and treadmill

News

Peloton launches a new exercise bike and treadmill

09.09.2020 News

Shares of Peloton Interactive, which rose 184% since the beginning of the year, fell 3.6% over the past three trading days, despite two price target increase from experts of investment companies.

Last week, JP Morgan raised its target price for Peloton shares from $ 58 to $ 105. On Friday, analysts at JMP Securities raised the target price of shares of the fitness company from $ 59 to a new high on Wall Street to $ 109, considering that about 50% of gym visitors in the United States do not return to exercise after quarantine measures that can stimulate Peloton sales.

Peloton earns by selling subscriptions to various online fitness classes, but its biggest source of income – is the sale of simulators for training at home.

According to Bloomberg News, the company intends to release a new treadmill Tread on screen for less than $ 3,000, which will be more accessible than the current offer at the price of over $ 4,000 – a model that will remain as a premium product called Tread +. The new Peloton treadmill will have a cheaper belt configuration than most other treadmills.

Also reported that the company plans to release more expensive stationary bike called Bike +, which probably prompts Peloton to lower the price ($ 2245) on the existing model.

Coronavirus pandemic has dramatically increased demand for Peloton products and services, but also limited the company’s ability to manufacture and supply simulators. Management explained that the company has doubled production, but still lags behind in the implementation of orders.

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