Raymond James analyst Aaron Kessler downgraded shares of Peloton Interactive Inc. PTON,
to perform in the market since surpassing on Friday, after a profit report in which the company showed a continuation of strong demand for its exercise bike, but also maintained delays in delivery. Shares have fallen 7.5% in Friday morning trading. Kessler is concerned that demand for Peloton equipment may “soften a bit” once social distancing restrictions are reduced after further advances in vaccine distribution. While he still has a long-term positive outlook on the company’s fundamentals, he argued that the shares appear to be fairly valued at approximately 26 times their expectations on gross profits from the 2021 calendar and 21 times their expectations on gross profits. of the 2022 calendar, from the publication of its note before the negotiation began on Friday. Shares of Peloton have gained 23% in the last three months, as the S&P 500 SPX,
has risen 11%.