As a result of the home-fitness craze during COVID-19, $PTON is up 4.46% today. Wall Street giant, Goldman Sachs, believes Peloton Interactive Inc. isn’t stopping there, as 12-month price targets were elevated from $84 to $96. As their stock currently sits at $70.30, there is major upside investing in a company banking on the success of the home-fitness trend with momentum on their side.
According to the Robintrack graph, thousands of new Robinhood users jumped on $PTON as soon as the price jumped. Will Peloton Interactive Inc. ride the momentum and reach their lofty goals? Will they need COVID-19 to keep consumers inside their homes and unable to reach the local gyms? That much will become clear in the following weeks.
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