Planet Fitness (NYSE:PLNT) Given New $75.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo raised its Planet Fitness price target to $75 from $65 and maintained an Overweight rating, implying about 25% upside from the stock’s current price.
• Planet Fitness reported quarterly revenue of about $360 million, up 9% year over year, and earnings of $0.83 per share, beating analyst estimates; management also raised its 2026 forecast.
• Analyst sentiment is broadly positive: MarketBeat reports a Moderate Buy consensus and an average price target of $70.61, though same-club sales growth was a modest 1.5%.

Planet Fitness (NYSE:PLNT - Get Free Report) had its price target boosted by research analysts at Wells Fargo & Company from $65.00 to $75.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's target price points to a potential upside of 25.17% from the company's current price.

A number of other equities analysts have also issued reports on the stock. Weiss Ratings reiterated a "sell (d+)" rating on shares of Planet Fitness in a research report on Monday, September 14th. Morgan Stanley lifted their price objective on Planet Fitness from $51.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 27th. Zacks Research raised Planet Fitness from a "strong sell" rating to a "hold" rating in a research note on Friday, July 10th. JPMorgan Chase & Co. raised their target price on Planet Fitness from $60.00 to $62.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Finally, Jefferies Financial Group set a $106.00 target price on Planet Fitness in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $70.61.

Planet Fitness Price Performance

Planet Fitness stock opened at $59.92 on Friday. The firm has a market capitalization of $4.53 billion, a P/E ratio of 20.31, a P/E/G ratio of 1.23 and a beta of 1.02. The stock has a fifty day moving average price of $49.05 and a two-hundred day moving average price of $61.52. Planet Fitness has a 52-week low of $37.03 and a 52-week high of $114.26.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its earnings results on Thursday, November 5th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.81 by $0.02. Planet Fitness had a net margin of 16.88% and a negative return on equity of 59.46%. The company had revenue of $359.98 million for the quarter, compared to the consensus estimate of $348.34 million. During the same quarter in the previous year, the company earned $0.80 EPS. The firm's revenue for the quarter was up 9.0% compared to the same quarter last year. On average, equities research analysts predict that Planet Fitness will post 3.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Stephen Spinelli, Jr. purchased 10,000 shares of Planet Fitness stock in a transaction dated Monday, August 10th. The shares were bought at an average cost of $49.28 per share, with a total value of $492,800.00. Following the completion of the transaction, the director directly owned 45,516 shares in the company, valued at $2,243,028.48. This trade represents a 28.16% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher Tanco purchased 2,328 shares of Planet Fitness stock in a transaction dated Monday, September 14th. The shares were purchased at an average cost of $51.23 per share, for a total transaction of $119,263.44. Following the completion of the transaction, the director owned 2,328 shares of the company's stock, valued at approximately $119,263.44. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its stake in Planet Fitness by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,238,129 shares of the company's stock valued at $92,091,000 after acquiring an additional 21,914 shares in the last quarter. Van Berkom & Associates Inc. boosted its position in Planet Fitness by 21.1% during the 1st quarter. Van Berkom & Associates Inc. now owns 990,819 shares of the company's stock worth $73,697,000 after acquiring an additional 172,586 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Planet Fitness by 7.2% during the 1st quarter. Bank of America Corp DE now owns 779,251 shares of the company's stock worth $57,961,000 after acquiring an additional 52,289 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Planet Fitness by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 732,411 shares of the company's stock worth $54,477,000 after acquiring an additional 13,089 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Planet Fitness during the 2nd quarter worth approximately $44,399,000. 95.53% of the stock is currently owned by institutional investors.

Key Headlines Impacting Planet Fitness

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

• Positive Sentiment: Third-quarter revenue rose 9% year over year to about $360 million, exceeding estimates of roughly $348 million. Adjusted earnings of $0.83 per share also topped the $0.81 consensus estimate. Planet Fitness third-quarter results
• Positive Sentiment: Management raised its 2026 forecast following the earnings beat, signaling improved expectations for the full year. Planet Fitness raises 2026 forecast
• Positive Sentiment: The company authorized a new $500 million share buyback and said it repurchased and retired $50 million of Class A shares in the quarter. Repurchases can support per-share results and signal confidence in the business. Planet Fitness third-quarter results
• Positive Sentiment: Planet Fitness plans to raise regional Black Card prices in the second quarter of 2027, which could help lift membership revenue if customers accept the increases. Three takeaways for long-term investors
• Neutral Sentiment: Management is reviewing its domestic corporate-owned clubs, potentially paving the way for sales and a greater focus on franchising; the financial impact and timing remain uncertain. The company also announced plans to enter Portugal through its acquisition of Be-Fit. Planet Fitness third-quarter results
• Negative Sentiment: System-wide same-club sales increased just 1.5%, a relatively modest gain that may temper enthusiasm about the strength of established-club growth despite the overall revenue and earnings beats. Planet Fitness third-quarter results

About Planet Fitness

Planet Fitness, Inc NYSE: PLNT is a franchised fitness-center company that operates under the Planet Fitness brand. The company follows a “high-value, low-price” model designed to make gym memberships accessible to a broad range of consumers. Its clubs offer cardiovascular and strength-training equipment, group and individual exercise areas, and a welcoming environment known as the “Judgement Free Zone.”

Planet Fitness generates revenue primarily through membership dues, franchise royalties and fees, and sales of merchandise and other services.

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