What happened

As if it needed another drubbing, battered fitness stock Peloton Interactive (PTON 2.23%) took the latest in a series of blows from analysts on Monday. Another prognosticator weighed in with a price cut on the company's shares; the second trading day in a row that has occurred. As a result, Peloton stock fell by over 1% on the day.

So what

Before the market open, Truist Securities' Youssef Squali shaved his price target on Peloton to $13 per share from his previous $15. He's maintaining his hold recommendation on the shares.

In a new research note, Squali predicted that the company's full-year 2023 guidance is likely to be uninspiring, given the many challenges to its business (which comprises both exercise equipment sales and streaming video services). He doesn't feel that Peloton will show significant growth until the second half of that year.

Squali's new take on the stock comes on the heels of another price target cut. This one was made Friday morning by Bank of America Securities analyst Justin Post, who's also reducing his target by $2. He now believes Peloton is worth $23 per share from the preceding $25, although he's keeping his buy recommendation.

Now what

The latest analyst moves come at an eventful time for the struggling Peloton. Although the company was hot during the pandemic, a return to the gym by many fitness enthusiasts has negatively affected its performance. Safety concerns haven't helped matters.

Earlier this month, the company announced that it would raise the prices of its Peloton Bike+ and its Tread treadmill, a sure sign that it's hungry for cash. Additionally, a restructuring program will lead to hundreds of job cuts in the near future.