NEW YORK, March 29, 2026, 4:07 PM EDT
Peloton Interactive Inc. jumped 8.85% Friday, finishing at $4.43. Trading spiked, with roughly 38.1 million shares changing hands. Earlier, hedge fund manager Eric Jackson disclosed he’s long the fitness stock — a wager on more upside. Business Insider
The rally has thrown the spotlight back on Peloton’s ability to translate improved cash figures into a sustained rebound. Back in February, Peloton flagged that third-quarter revenue would fall short of Wall Street’s forecasts. This week, the finance seat changed hands: interim CFO Saqib Baig replaced Liz Coddington, who stepped down. Reuters
Peloton is balancing a tough mix at the moment. The company slashed its fiscal 2026 revenue forecast down to $2.40 billion–$2.44 billion, yet it bumped up its adjusted EBITDA projection to $450 million–$500 million — that’s its preferred profit measure — and pushed its free cash flow target to at least $275 million. Recall, Peloton already eliminated 11% of its workforce back in January. Peloton Interactive, Inc.
EMJ Capital’s Jackson sees the market stuck on Peloton’s “prior narrative rather than its current financial reality,” he said to Business Insider. He lined up Peloton’s hardware-plus-subscription structure next to Chewy, Roku, and Sonos—who, he noted, fetch higher cash-flow multiples in trading. Business Insider
Peloton’s operating performance remains rocky. Revenue slipped 3% in the December quarter, landing at $657 million. The number of paid connected fitness subscribers — those with memberships tied to Peloton’s bikes and treadmills — also fell, down 7% to 2.661 million. For the third quarter, the company is projecting revenue between $605 million and $625 million, coming in under analyst expectations, according to Reuters. Peloton Interactive, Inc.
Stern’s efforts to move Peloton past its pandemic-era image have picked up pace. On March 16, the company rolled out a commercial-grade bike and treadmill designed for busy gym settings. “Peloton is going to the gym,” Stern declared. Peloton also reported that its commercial division boosted revenue by 10% year over year in the fiscal second quarter. Peloton Interactive, Inc.
Just a day after the announcement, Peloton tapped Sarah Robb O’Hagan—formerly CEO at EXOS—to fill the newly created role of chief content and member development officer, starting April 1. The move comes as Peloton pushes to expand beyond connected fitness and reposition itself as a broader wellness player. Back in February, Stern described Peloton’s “subscription base” as “highly committed,” even as the company stuck to aggressive cost cuts and continued to overhaul its product slate. Peloton Interactive, Inc.
The turnaround story could easily come apart if demand for equipment stays soft or if subscriber losses worsen. Reuters noted Peloton’s total membership shrank by over 6% year over year to 5.8 million in the December quarter, citing sluggish demand tied to shaky consumer confidence. The stock, despite Friday’s rally, is still trading at about half its 52-week high of $9.20—down a staggering 96% from its 2021 peak. Reuters
