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Investing.com — Peloton (NASDAQ:PTON) dropped 4% after The Wall Street Journal said would-be bikers are losing their patience as delays push deliveries into 2021.
Peloton has been one of the biggest winners of the pandemic, with subscriptions for its classes almost doubling since March. Bikes cost close to $2,000, aside from a $39-a-month subscription fee. Delays are due to shipping problems, the Journal reported. That’s been good for rivals like Nautilus and NordicTrack, with customers turning to those companies for faster delivery after whining in complaints on Facebook (NASDAQ:FB) about the long waits.
It probably doesn’t help Peloton that we’ve had news of three pretty effective vaccines over the past three weeks, which will likely prompt at least some portion of the population to return to gyms and group cycling classes. Not that things are looking down.
Profit for the past two quarters has been at least double estimates, with sales also beating on both occasions. Revenue should cross the $1 billion mark for the current quarter, analysts estimate. And analysts still like the stock, with 22 saying buy, three saying hold and one single lone firm saying to sell, according to data compiled by Investing.com.
