Peloton Interactive Inc (NASDAQ:PTON) is among the best Robinhood stocks under $20 to buy now.
Peloton shares are up more than 19% over the past month, and the Street sees more upside in the stock
On May 27, Telsey Advisory Group reaffirmed its Market Perform rating on Peloton Interactive Inc (NASDAQ:PTON) stock with a price target of $6 on the shares. The firm based its decision on Peloton’s improved balance sheet and expected growth as the company unlocks new revenue streams. According to Telsey, Peloton’s March quarter results exceeded expectations, and the company’s balance sheet improved significantly.
Peloton reported a 41% YoY increase in adjusted EBITDA and a 70% reduction in net debt during the quarter. Telsey noted that Peloton’s content licensing deal with Spotify and commercial sales have the potential to become bigger revenue sources. Peloton has struck a deal to distribute its exercise-focused content through Spotify’s platform.