Peloton Interactive Inc investors want answers to two questions when the company reports results on Thursday: Will the Delta coronavirus variant drive a new surge in sales, and are customers ready to look past a recall by the exercise bike and treadmill makers?
A Peloton exercise bike is seen after the ringing of the opening bell for the company's IPO at the Nasdaq Market site in New York City, September 26, 2019.
“If the Delta variant continues to delay the return to normality -- and worse yet, if it leads to incremental gym closures come winter time -- I do think that could be a positive catalyst for Peloton,” said James Hardiman of Wedbush Securities. He added that “it's way too early to make that assessment right now.” He downgraded Peloton shares from outperform to neutral on July 14 due partly to uncertain future demand. The stock is down 34% from its high on Jan. 14.
The lower-priced Tread will debut in the United States for $2,495. It had launched in Canada and the United Kingdom but was recalled in May for a manufacturing problem. Peloton announced it will be released in the United States on Aug. 30 after finding a fix for faulty screws that caused the touchscreen console on the Tread to fall off.
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