Why Pelton (PTON) Stock Keeps Climbing Higher

Peloton Interactive Stock (NASDAQ: PTON) has rocketed up 42% in the last thirty days.  It is pushed past JP Morgan’s target prices of $40 and doesn’t appear to be stopping. In recent months the fears of a global recession and a coronavirus pandemic peaked however the interest in Peloton stock rose, particularly among investors and investors in technology companies.

According to the WSJ, Peloton Interactive Inc. (PTON) has a “buy” offer from 25 brokerage firms that are keeping a close eye on the share’s performance compared to competitors.

PTON stock is very bullish on many technical indicators, specifically the 50MA and 200MA.  The 50-day moving average is the SMA200, which is generally used by long-term trend followers, and one that mainly looks for the most important trends, regardless of whether the stock is on a bull or bear trend. The 200-day moving average, or S MA, is easier to calculate, but most shareholders will view the above-average cross as a means to an end – the – annual forecast, which is most likely a sign that stocks are either on a bullish or pronounced trend, with a cross below the 200-day average indicating a negative trend and a cross above indicating a future upward trend.

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Why is Peloton Stock (PTON) Up?

The answer why Peloton stock is very simple- more revenue due to the coronavirus. Pelton reported an 11% increase in subscribers and a 66% surge in revenue. Cash is king.  Peloton investors should also be delighted to know that subscribers spike 94% (886,100) and are on pace to break 1 million soon.

Although these are all great nows, we cannot be oblivious to the HUGE risk of subscription-based businesses with an economy that is likely to drop. The Fed is doing everything they can to keep the economy from sinking into a depression, but if they don’t get America open soon, expect the worse.  That is why we are VERY cautious about subscription-based businesses in this environment.

Peloton Stock Price Targets

May-07-20 Reiterated Telsey Advisory Group Outperform $39 → $53
Apr-30-20 Reiterated JMP Securities Mkt Outperform $41 → $43
Apr-20-20 Downgrade BMO Capital Markets Market Perform → Underperform $26
Apr-16-20 Reiterated JP Morgan Overweight $35 → $40
Apr-15-20 Initiated ROTH Capital Buy $38
Apr-03-20 Initiated Rosenblatt Buy $42
Feb-28-20 Initiated Macquarie Outperform $38
Feb-06-20 Reiterated Canaccord Genuity Buy $37 → $40
Feb-04-20 Initiated BMO Capital Markets Market Perform
Feb-03-20 Initiated BMO Capital Markets Market Perform
Jan-15-20 Initiated Wedbush Outperform $37
Dec-12-19 Reiterated UBS Buy $30 → $40
Dec-12-19 Initiated Argus Buy $40
Oct-24-19 Initiated Bernstein Outperform
Oct-22-19 Initiated William Blair Outperform
Oct-21-19 Initiated UBS Buy $30
Oct-21-19 Initiated Telsey Advisory Group Outperform $29
Oct-21-19 Initiated SunTrust Buy $30
Oct-21-19 Initiated Stifel Buy $35
Oct-21-19 Initiated Raymond James Outperform $32

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