Peleton Tread's US Launch One of Several Catalysts For 2022, Oppenheimer Says
08:43 AM EST, 02/05/2021 (MT Newswires) -- Peloton Interactive (PTON) has delayed the US launch of its Tread treadmill, which could be one of several catalysts for fiscal 2022, Oppenheimer said in a note to clients.
The fitness company delayed the launch to May from February due to supply chain challenges amid elevated demand. Speaking on an earnings call, Chief Financial Officer Jill Woodworth said Tread would be a more meaningful contributor to performance in fiscal 2022.
The brokerage said Street's estimate of 33% revenue growth in fiscal 2022 undervalues opportunity from Tread's eventual U.S. rollout. Oppenheimer projects revenue growth of 56% in the fiscal year.
Other catalysts for 2022 include the Precor acquisition, a move into Australia and the funnel for digital fitness expanding, Oppenheimer said.
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