What happened Shares of Peloton Interactive (NASDAQ: PTON) were falling 4% in morning trading Wednesday after an analyst at Wedbush downgraded the home fitness stock to neutral from outperform. So what Peloton was a big winner after gyms were forced to close during the pandemic. Even as the COVID-19 outbreak looked to be fading, Wall Street was still pretty upbeat about the home fitness equipment maker's growth potential as it surmised it would keep many of the customers it won even after gyms began reopening. Image source: Peloton Interactive. Wedbush, however, thinks there may be too much competition now for Peloton to keep up the pace. In a note to investors, Wedbush analyst James Hardiman wrote consumers now have an "unprecedented and ever-growing list" of workout options. He argues Peloton is going to need to introduce innovative new products and initiate some savvy marketing if it expects consumers to choose it over the competition. Now what Peloton Interactive basically offers customers a stationary exercise bike and a treadmill, in a better-best tier. People can also sign up for workout classes separate from buying one of its expensive pieces of equipment. There had been talk at one time of introducing a rowing machine, but that might not be enough to bring in more customers. Given the recent bad publicity it got over forcing its customers to sign up for its monthly exercise courses at $40 a month or face having their equipment "bricked," consumers may decide their local gym is the best bet. 10 stocks we like better than Peloton InteractiveWhen our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Peloton Interactive wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 7, 2021 Rich Duprey has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Peloton Interactive. The Motley Fool has a disclosure policy.Source