5 Best Streaming Stocks to Buy Now

4. Peloton Interactive, Inc. (NASDAQ: PTON)

Number of Hedge Fund Holders: 63
Total Value of Hedge Fund Holdings: $5.66 Billion

New York-based exercise equipment and media company Peloton Interactive, Inc. (NASDAQ:PTON) ranks 4th in our list of the 10 best streaming stocks to buy now. The company was founded in 2012 and was funded by a kickstart campaign in 2013. The company has over 1.09 million fitness subscribers and 3.1 million members in total. Peloton Interactive, Inc. has a market cap of $28.2 billion. The company’s total revenue in 2020 came in at $607.1 million. Shares of PTON increased 182% over the past twelve months. In April, B of A Securities maintained a Buy in PTON but lowered the price target to $150.

Peloton has a subscription service in which it streams live and recorded workouts for its customers.

There were 63 hedge funds that reported owning stakes in Peloton Interactive, Inc. at the end of the fourth quarter, up from 58 funds a quarter earlier. The total value of these stakes at the end of Q4 is $5.66 billion.

Carillon Tower Advisers mentioned that PTON continues to benefit from its dominant role in the secular movement toward at-home linked health, which has sent its stock higher during the pandemic in its Q4 2020 investor letter:

“Peloton Interactive operates a connected fitness platform offering live and on-demand classes allowing users to exercise at home. The firm continues to take advantage of its strong position in the secular trend toward at-home connected fitness, which has led its shares higher throughout the pandemic. More recently, the company announced its intentions to acquire a global fitness equipment provider which should assist Peloton in its ongoing efforts to expand manufacturing capacity to keep pace with the robust demand for its products.”

Courtesy of Peloton