The Numbers Behind Peloton's Strong Quarter

佩洛顿强劲季度背后的数字

2020/07/09 12:20  Benzinga Staff Writer

Peloton Interactive Inc (NASDAQ: PTON) seems poised to benefit from a longer-term change in consumer habits, according to BofA Securities.

The Peloton Analyst: Justin Post maintained a Buy rating for Peloton, while raising the price target from $54 to $72.

The Peloton Thesis: Peloton’s app downloads on iOS and Android rose by 343% year-on-year in the fourth quarter of fiscal 2020, versus 134% in the previous quarter, although downloads declined in May and June from April’s levels, Post said in the note.

Peloton’s searches climbed 204% year-on-year in the fiscal fourth quarter, versus 70% in the prior quarter, and remained well ahead of its competitors. Post said monthly total visits to the company’s side were 2.95 million in June, well above the pre-COVID levels and competition, despite the decline from April’s peak levels.

Post raised the revenue and EBITDA estimates for the fiscal fourth quarter from $529 million to $548 million and from $67 million to $76 million, respectively, citing robust demand.

Strong demand is likely to continue into the first quarter of fiscal 2021, the analyst said. He raised the revenue and EBITDA estimates for fiscal 2021 from $2.50 billion to $2.62 billion and from $41 million to $117 million, respectively, on higher unit sales and subscriptions.

PTON Price Action: Shares of Peloton rose 2.5% to $64.09 at the time of publication Thursday.

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据美国银行证券称,佩洛顿互动公司(纳斯达克股票代码:PTON)似乎准备从消费者习惯的长期变化中受益。

The peloton分析师:贾斯汀·波斯特(Justin Post)维持对佩洛顿的买入评级,同时将目标价从54美元上调至72美元。

佩洛顿的命题:“华盛顿邮报”在报告中称,2020财年第四季度,佩洛顿在iOS和Android上的应用下载量同比增长了343%,而上一季度为134%,尽管5月和6月的下载量比4月份的水平有所下降。

第四财季,Peloton的搜索量同比攀升了204%,而上一季度为70%,仍然遥遥领先于竞争对手。华盛顿邮报表示,尽管与4月份的峰值水平相比有所下降,但6月份公司一侧的月度总访问量为295万人次,远高于COVID之前的水平和竞争。

Post将第四财季营收和EBITDA预估分别从5.29亿美元上调至5.48亿美元,从6,700万美元上调至7,600万美元,理由是需求强劲。

这位分析师表示,强劲的需求可能会持续到2021财年第一季度。他将2021财年的收入和EBITDA预期分别从25亿美元上调至26.2亿美元,从4100万美元上调至1.17亿美元,原因是销量和订阅量增加。

PTON价格行动:周四发布时,peloton的股价上涨2.5%,至64.09美元。

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