A vast majority of Wall Street thinks Peloton is undervalued following its IPO flop. Here's what analysts are saying.
On its first day of trading in September, the company closed 11% below its initial price of $29 per share, erasing. Since, the company has struggled to recover lost ground and is trading around $24 per share, roughly 17% below its IPO price.
Wall Street thinks that's a discount. Of the 18 analysts who initiated coverage on shares of the bicycling exercise company Monday, 17 have rated shares a "buy" and one has given shares a "hold" rating. So far, there are no sell ratings. Price targets range from $24 to $37, showing that nearly all analysts currently covering Peloton think that the stock is undervalued where it is currently trading at roughly $24 per share.
Here's a roundup of what some analysts who initiated coverage of Peloton are saying about the company:
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