JPMorgan’s Top 5 Stock Picks for 2023

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1. Peloton Interactive, Inc. (NASDAQ:PTON)

Year to Date Share Price Growth as of February 8, 2023: 91.75%

Number of Hedge Fund Holders In Q3 2022: 45

Peloton Interactive, Inc. (NASDAQ:PTON) is an American health and fitness company that is headquartered in New York. It provides a collaboration platform that enables people to exercise with each other and equipment such as exercise bikes.

The darling of Wall Street during the coronavirus pandemic, Peloton Interactive, Inc. (NASDAQ:PTON) saw its share price tank in 2022 as reopening and inflation hammered its business. However, this year, it’s back up by 91.75% and according to JPMorgan, it cash flows are improving and subscribers are growing as Peloton Interactive, Inc. (NASDAQ:PTON) takes the right step toward revenue growth. The bank increased the company’s share price target to $19 from $13 in February 2022 and kept an Overweight rating on the shares. In Q3 2022, 45 of the 920 hedge funds polled by Insider Monkey had invested in the company.

Peloton Interactive, Inc. (NASDAQ:PTON)’s largest hedge fund investor is Anand Desai’s Darsana Capital Partners which owns ten million shares that are worth $69 million.

Follow Peloton Interactive Inc. (NASDAQ:PTON)

Disclosure: None. You can also take a peek at 14 Small Cap Stocks with Huge Potential and 10 Best February Dividend Stocks To Buy.

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