Einhorn Buys Peloton (PTON) Dip as Stock Falls Below $5 After Earnings Miss

Hedge fund manager David Einhorn is purchasing shares of Peloton Interactive Inc. (PTON) as the stock fell below $5 following a disappointing fiscal second-quarter report. On February 20, 2026, the company reported revenue of $656.5 million, down 3% year-over-year and missing estimates, while Chief Financial Officer Liz Coddington announced her resignation. Peloton forecasts current quarter revenue between $605 million and $625 million, short of analyst expectations, though adjusted EBITDA is projected to rise 43% year-over-year. Despite reducing net debt to $319 million, analysts at Citigroup and J.P. Morgan cut price targets, and Argus downgraded the stock to "Hold."