By Dhirendra Tripathi

Investing.com – Peloton stock (NASDAQ:) fell 0.5% on Tuesday as a Raymond James analyst drew attention to another soft quarter for the company.

StreetInsider’s analyst Aaron Kessler maintained his market rank on the equipment maker. He also pointed out that the latest data shows a softening of demand, rising costs and supply chain bottlenecks.

Peloton, one of the biggest winners of the pandemic when people stayed home and bought the company’s equipment to keep fit, was left shocked as people junked its gear to exercise outside once the economy reopened. The company’s attempt to tap mass markets by dropping the price of the flagship exercise bike fell apart, despite its perception of itself as a manufacturer of premium items.

Peloton anticipates that revenue will range between $1.1 billion to $1.2 billion in the current quarter. The company expects revenue to reach $4.4 billion-$4.8 billion for the entire year.

Kessler stated that both the annual and quarterly estimates were aggressive. Kessler also believes the company accounted for a higher seasonality return during the current quarter.