6. Peloton Interactive, Inc. (NASDAQ:PTON)
On May 8, 2026, Goldman Sachs raised the firm’s price target on Peloton Interactive, Inc. (NASDAQ:PTON) to $8 from $7 and kept a Buy rating on the shares. The firm said Peloton’s Q3 results included a modest increase to the low end of its FY26 revenue guidance and improved adjusted EBITDA expectations, supported by stable subscription trends and continued cost efficiencies. Goldman Sachs added that churn is expected to remain flat year over year despite pricing increases, while management also pointed to improving marketing traction and longer-term growth opportunities tied to commercial offerings and content licensing initiatives, including the company’s recent partnership with Spotify.
On May 7, 2026, Peloton Interactive, Inc. (NASDAQ:PTON) reported Q3 EPS of 6c, versus the consensus estimate of 8c. Revenue totaled $630.9M, versus the consensus estimate of $617.76M. Ending Paid Connected Fitness Subscriptions totaled 2.662 million, down 218,000 or 7.6% year over year and in line with the midpoint of company guidance. CEO and President Peter Stern said the company made progress during the quarter in strengthening member relationships, expanding global reach, diversifying revenue streams, and developing additional long-term growth initiatives. Stern also highlighted improved financial performance, including revenue growth, a significant increase in adjusted EBITDA, and a notable reduction in net debt. Management added that the launch of the Peloton Commercial Series and the new global Spotify partnership represent steps toward expanding Peloton into a broader wellness ecosystem.
For FY26, Peloton expects revenue of $2.42B to $2.44B, versus the consensus estimate of $2.43B. The company also expects a total gross margin of about 52.5%, adjusted EBITDA of $470M to $480M, and free cash flow near $350M. Ending Paid Connected Fitness Subscriptions are projected to range from 2.55 million to 2.57 million by year-end.
Peloton Interactive, Inc. (NASDAQ:PTON) provides connected fitness equipment, subscription services, and wellness content across North America and international markets.
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