Peloton Stock Up - Goldman Sets Wall Street High Price Target

佩洛顿股票上涨-高盛设定华尔街高价目标

2020/07/20 17:17  TheStreet

Shares of Peloton( PTON ) - Get Reporton Monday were higher after Goldman Sachs analysts raised their price target on the home-workout-technology company to a Wall-Street-high $84 a share from $66.

The investment firm affirmed its buy rating on Peloton shares.

The firm said sustained demand and above-average delivery wait times point to connected-subscriber growth exceeding Goldman's prior guidance estimates.

Goldman's note says the subscriber growth is not simply a pull-forward of potential subscribers due to Peloton's "relatively low penetration of the fitness market."

Instead, the New York company is "increasing the consumer value proposition for both Peloton products and the broader digital ecosystem."

Goldman now expects Peloton's revenue to rise 13.5% per year between 2020 and 2022 with its adjusted gross profits expected to climb 13.2% annually over the same time period.

Peloton shares at last check jumped 9.1% to $63.85.

Peloton is part of a group of e-commerce companies on which Goldman Sachs is more bullish as the coronavirus pandemic lockdown drags on in the U.S.

Monday's note says that Internet stocks have returned a positive 39% on a market-capitalization-weighted basis. That compares with flat returns from the S&P 500, which marks a "significant reversal in performance" since March 16, when internet stocks had returned -18%.

"Major outperformers during this period include Amazon,( AMZN ) - Get ReportEtsy,( ETSY ) - Get ReportWayfair,( W ) - Get Reportand Peloton, each of which benefited from an acceleration in ecommerce demand amid shelter-in-place measures," Goldman's note said.

Last week, analysts at UBS downgraded Peloton to neutral from buy on valuation concerns, though the firm also raised its price target $58 from $48 on increased earnings estimates.

"We believe the stock is fairly valued at these levels, as investors are already pricing in a high degree of expectations for forward subscriber/revenue growth and [for a] path toward profitability in the coming years, UBS's note stated.

周一,在高盛(Goldman Sachs)分析师将这家家庭健身科技公司的目标价从每股66美元上调至华尔街最高的84美元后,该公司股价上涨。

这家投资公司确认了其对佩洛顿股票的买入评级。

该公司表示,持续的需求和高于平均水平的送货等待时间表明,联网订户的增长超出了高盛之前的指导估计。

高盛的报告称,由于佩洛顿“在健身市场的渗透率相对较低”,订户增长不仅仅是潜在订户的拉动。

相反,这家纽约公司正在“提高佩洛顿产品和更广泛的数字生态系统的消费者价值主张”。

高盛现在预计,2020年至2022年间,佩洛顿的收入将以每年13.5%的速度增长,同期调整后的毛利润预计将每年增长13.2%。

Peloton股价在最新检查中跃升9.1%,至63.85美元。

随着冠状病毒大流行在美国的拖延,佩洛顿是高盛(Goldman Sachs)更为看好的一批电子商务公司中的一员。

周一的报告说,互联网股票的市值加权回报率为正39%。相比之下,标准普尔500指数的回报率持平,这标志着自3月16日以来“业绩出现了显著逆转”,当时互联网股票的回报率为-18%。

高盛的报告称:“在此期间,主要的优胜者包括亚马逊(Amazon)、Get ReportEtsy、(Etsy)-Get ReportWayfair、(W)-Get ReportWayfair和Peloton,这两家公司都受益于在就地避难措施下电子商务需求的加速。”

上周,瑞银(UBS)分析师出于估值担忧,将peloton的评级从买入下调至中性,不过由于收益预期上升,该公司也将目标价从48美元上调至58美元。

我们相信股票在这些水平上的估值是合理的,因为投资者已经在定价中考虑到了对远期订户/收入增长的高度预期,以及[作为一个]瑞银在报告中表示,未来几年将实现盈利。

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