Peloton Interactive Inc. shares closed 35.3 percent lower on Friday, wiping off about $9.2 billion in market value as analysts predicted a tough path ahead for the pandemic darling amid a return by economies to normalcy.
At least 15 analysts lowered their price target on the Peloton stock after the company cut its annual sales forecast by up to $1 billion and reported its slowest quarterly sales growth in more than a year.
