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Peloton Slides After Goldman Downgrade on 458% Share Price Rally

    
Source: Peloton

Peloton Interactive Inc. slid in extended trading Wednesday after Goldman Sachs issued a rare downgrade of the stock to a hold-equivalent rating, citing a more than fivefold share-price rally over the past year.

The 458% gain in Peloton shares since it was added to a Goldman buy list in 2019 suggests that “much of the near term opportunity is priced in,” analyst Heath Terry wrote in a research report cutting the rating to neutral from buy. Peloton fell as much as 3.9% in postmarket trading.