, Siegel was the only analyst out of 23 Wall Street analysts to rate the stock a sell or underperform following the fourth quarter results. Both Evercore ISI and Stifel set a target price of $120, a significant increase from previous target prices, $62 and $72 respectively.
"Peloton, the stock, has taken on a life of its own that is driven by a view that the audience is limitless," Siegel said., where they interviewed 3,298 individuals from the US about Peloton. CivicScience found 67% of respondents were disinterested in Peloton products whereas 28% hadn't heard of the product.Bullish investors expect the market size for home fitness grow exponentially.
Siegel discovered there was a 0% increase in interest in learning about a Peloton product without seeing the price. This suggests the pandemic has not lifted the desire to own the product, Siegel said, in the September 15 research note.
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