Planet Fitness (NYSE:PLNT) Trading 6% Higher After Analyst Upgrade

Planet Fitness, Inc. (NYSE:PLNT) shot up 6% during mid-day trading on Tuesday after Morgan Stanley raised their price target on the stock from $47.00 to $51.00. Morgan Stanley currently has an equal weight rating on the stock. Planet Fitness traded as high as $53.15 and last traded at $53.67. 1,312,042 shares were traded during trading, a decline of 38% from the average daily volume of 2,115,300 shares. The stock had previously closed at $50.63.

Other equities analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $55.00 target price on shares of Planet Fitness in a research note on Wednesday, July 22nd. Robert W. Baird set a $72.00 price target on Planet Fitness in a research note on Friday, August 7th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Planet Fitness in a research report on Monday, July 20th. TD Cowen reiterated a “hold” rating on shares of Planet Fitness in a research note on Friday, May 29th. Finally, Canaccord Genuity Group lifted their price objective on Planet Fitness from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.24.

Insiders Place Their Bets

In other news, Director Stephen Spinelli, Jr. acquired 10,000 shares of Planet Fitness stock in a transaction on Monday, August 10th. The stock was acquired at an average cost of $49.28 per share, for a total transaction of $492,800.00. Following the purchase, the director owned 45,516 shares in the company, valued at $2,243,028.48. This trade represents a 28.16% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Key Headlines Impacting Planet Fitness

Here are the key news stories impacting Planet Fitness this week:

• Positive Sentiment: Morgan Stanley increased its Planet Fitness price target from $47 to $51, citing valuation support. However, the new target remains below the recent trading level, and the firm retained its “equal weight” rating. Benzinga
• Neutral Sentiment: Multiple law firms reiterated that investors have until September 14, 2026 to seek lead-plaintiff status in a securities class action covering shareholders who purchased Planet Fitness securities between November 6, 2025, and May 6, 2026. The notices themselves are largely promotional and do not represent new findings against the company. SueWallSt shareholder deadline notice
• Negative Sentiment: The pending lawsuit alleges that Planet Fitness made misleading disclosures concerning Black Card pricing, net membership growth, marketing, and same-club sales guidance before lowering its 2026 targets and withdrawing its three-year growth algorithm. Several law firms say these developments preceded an approximately 31% one-day stock decline, creating potential legal and reputational overhang for PLNT. Bleichmar Fonti & Auld class action notice

Institutional Investors Weigh In On Planet Fitness

Institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Planet Fitness during the fourth quarter valued at approximately $108,796,000. Assenagon Asset Management S.A. purchased a new stake in Planet Fitness during the 2nd quarter valued at $44,399,000. Freestone Grove Partners LP boosted its stake in Planet Fitness by 149.2% during the 3rd quarter. Freestone Grove Partners LP now owns 527,634 shares of the company’s stock valued at $54,768,000 after purchasing an additional 315,941 shares during the last quarter. SRS Investment Management LLC increased its holdings in shares of Planet Fitness by 4.5% in the 4th quarter. SRS Investment Management LLC now owns 4,877,578 shares of the company’s stock worth $529,071,000 after purchasing an additional 212,145 shares in the last quarter. Finally, Mane Global Capital Management LP bought a new stake in shares of Planet Fitness in the 3rd quarter worth $20,760,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Performance

The stock has a fifty day simple moving average of $52.38 and a 200 day simple moving average of $64.99. The firm has a market cap of $4.05 billion, a P/E ratio of 18.17, a price-to-earnings-growth ratio of 1.08 and a beta of 1.03.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.03. Planet Fitness had a negative return on equity of 59.46% and a net margin of 16.88%.The firm had revenue of $365.22 million for the quarter, compared to the consensus estimate of $356.21 million. During the same period in the prior year, the company posted $0.86 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. Planet Fitness has set its FY 2026 guidance at 3.254-3.254 EPS. Research analysts predict that Planet Fitness, Inc. will post 3.21 earnings per share for the current year.

Planet Fitness Company Profile

Planet Fitness, Inc is a franchisor and operator of fitness centers based in Hampton, New Hampshire. Established in 1992, the company designs and equips its clubs to offer a non-intimidating workout environment, often marketed under its “Judgment Free Zone” philosophy. Planet Fitness markets affordable membership plans and a variety of cardio and strength-training equipment, positioning itself to attract casual and first-time gym users.

The company operates through a network of franchised and company-owned clubs.