El precio de las acciones de Peloton sube, los inversores ven signos de recuperación

Investing.com – Peloton Interactive Inc (NASDAQ:PTON) stock price rose 4.2% on Friday after hedge fund manager Eric Jackson disclosed a long position at $4, noting that the company’s cash generation ability and insider buying indicate a mispricing in the market for this fitness equipment manufacturer.

EMJ Capital founder Jackson stated that Peloton generated $345 million in free cash flow over the past twelve months, while its trading price is only 5 times that number—representing a significant discount compared to other subscription-based companies. He pointed out that Chewy (NYSE:CHWY) trades at 20 times free cash flow, Roku (NASDAQ:ROKU) at 22 times, and Sonos (NASDAQ:SONO) at 10 times.

The company’s balance sheet reports $1.18 billion in cash, which accounts for 67% of its current market value. Jackson mentioned that seven insiders, including CEO Peter Stern and former CFO Liz Coddington, purchased shares in March at a price of $3.86 in the open market.

Peloton reported fourth-quarter revenue of $656 million, a 19% increase quarter-over-quarter, but down year-over-year. The company has achieved positive free cash flow for four consecutive quarters, and management raised the full-year EBITDA and free cash flow guidance by about $25 million, although revenue guidance was cut by 1%.

The monthly subscription user churn rate for the first quarter of fiscal year 2026 improved from 1.8% in the previous quarter to 1.6%, even after the company implemented price increases. As of the most recent quarter, the total number of connected fitness subscription users was 2.73 million.

Jackson stated that he analyzed 26 earnings call transcripts spanning three CEO tenures using a proprietary system called TonalityIQ, which detected “presumptive confidence” in Stern’s language—he noted that this pattern had appeared prior to similar re-ratings in other turnaround situations.

The company refinanced its $800 million convertible bonds maturing in February 2026 by extending the maturity date to 2029 through a $1 billion term loan and $300 million in new convertible bonds. Total debt stands at $1.95 billion, with annual interest expenses of about $140 million, while free cash flow is $345 million.

Peloton’s next earnings report is expected to be released around May 8, when the company will announce its third-quarter results for fiscal year 2027. Jackson indicated that the subscription user count and churn rate data in that report will determine whether the subscription user base is stabilizing.

Short interest in Peloton represents 16.7% of the float. Institutional options activity includes the purchase of 10,000 May $4/$5 call spreads on March 24, representing an options premium of $3.3 million.

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