Peloton’s Q3 FY2024 earnings showed a 3% QoQ uptick in hardware sales, yet analysts maintain PTON stock forecast at neutral, citing ongoing cash burn above $100M per quarter. For third-quarter fiscal 2024, management expects Ending Paid Connected Fitness Subscriptions in the range of 2.99-3.01 million, remaining flat from the prior-year levels (from midpoint of guidance). On the other hand, Ending Paid App Subscriptions is suggested in the range of 0.73-0.75 million. Revenues for the quarter is projected to be between $700 million and $725 million, down 5% (from midpoint of guidance) from the year-ago levels. For fiscal 2024, the company forecasts Ending Paid Connected Fitness Subscriptions in the range of 3.05-3.06 million, remaining unchanged from the prior-year levels. On the other hand, Ending Paid App Subscriptions is envisioned in the range of 0.70-0.80 million, down 8% (from midpoint of guidance) from the year-earlier levels. Revenues for the quarter are expected to be between $2,675 million and $2,750 million, down 3% (from midpoint of guidance) from a year ago. The company currently has a Zacks Rank #3 (Hold). But no company on Earth can cut its way to profitability without making sure revenue comes in. To that end, Peloton is looking to make a bit of a pivot to “wellness,” reports note. While it could be argued that Peloton was always about wellness—especially given its focus on exercise—there was room to do more. Forward-looking PTON stock forecast scenarios hinge on Peloton’s ability to integrate AI-powered fitness analytics, a niche attracting higher-margin customers.