Planet Fitness (NYSE:PLNT) Stock Price Expected to Rise, KeyCorp Analyst Says

Key Points

• KeyCorp raised Planet Fitness’s price target from $65 to $68 and maintained an “overweight” rating, implying about 13.8% upside from the stock’s current price.
• Planet Fitness beat Q3 estimates, reporting EPS of $0.83 versus $0.81 expected and revenue of about $360 million, up 9% year over year; the company also raised its 2026 forecast.
• Analyst sentiment is broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average target price of $70.76. The company also approved a new $500 million share-repurchase program.

Planet Fitness (NYSE:PLNT - Get Free Report) had its target price increased by equities researchers at KeyCorp from $65.00 to $68.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. KeyCorp's price objective points to a potential upside of 13.77% from the stock's current price.

Several other brokerages also recently weighed in on PLNT. Jefferies Financial Group set a $106.00 target price on shares of Planet Fitness in a research note on Thursday, August 6th. Robert W. Baird dropped their price target on shares of Planet Fitness from $72.00 to $60.00 and set an "outperform" rating on the stock in a research note on Monday, October 5th. Wells Fargo & Company boosted their price objective on shares of Planet Fitness from $65.00 to $75.00 and gave the stock an "overweight" rating in a report on Friday. Raymond James Financial reissued a "strong-buy" rating and issued a $72.00 price objective on shares of Planet Fitness in a research report on Thursday. Finally, Zacks Research raised shares of Planet Fitness from a "strong sell" rating to a "hold" rating in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $70.76.

Planet Fitness Stock Down 0.5%

NYSE PLNT opened at $59.77 on Friday. The stock has a market cap of $4.51 billion, a PE ratio of 20.32, a P/E/G ratio of 1.23 and a beta of 1.02. Planet Fitness has a fifty-two week low of $37.03 and a fifty-two week high of $114.26. The business has a 50 day moving average price of $49.05 and a two-hundred day moving average price of $61.52.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.02. The company had revenue of $359.98 million during the quarter, compared to the consensus estimate of $348.34 million. Planet Fitness had a net margin of 16.88% and a negative return on equity of 59.46%. Planet Fitness's revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the company earned $0.80 earnings per share. Sell-side analysts anticipate that Planet Fitness will post 3.22 EPS for the current fiscal year.

Insider Activity

In related news, Director Christopher Tanco purchased 2,328 shares of the business's stock in a transaction that occurred on Monday, September 14th. The shares were purchased at an average cost of $51.23 per share, with a total value of $119,263.44. Following the completion of the acquisition, the director directly owned 2,328 shares of the company's stock, valued at approximately $119,263.44. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO William Bode sold 7,000 shares of the stock in a transaction on Monday, September 14th. The shares were sold at an average price of $51.22, for a total transaction of $358,540.00. Following the transaction, the chief operating officer owned 32,939 shares in the company, valued at $1,687,135.58. This trade represents a 17.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.90% of the company's stock.

Institutional Investors Weigh In On Planet Fitness

A number of institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. bought a new position in shares of Planet Fitness during the second quarter valued at approximately $44,399,000. Leeward Investments LLC MA acquired a new stake in shares of Planet Fitness during the 3rd quarter worth approximately $10,558,000. Montanova Capital LLC acquired a new stake in shares of Planet Fitness during the 2nd quarter worth approximately $11,473,000. Van Berkom & Associates Inc. lifted its holdings in shares of Planet Fitness by 21.1% in the 1st quarter. Van Berkom & Associates Inc. now owns 990,819 shares of the company's stock worth $73,697,000 after purchasing an additional 172,586 shares during the last quarter. Finally, Amundi lifted its holdings in shares of Planet Fitness by 118.2% in the 1st quarter. Amundi now owns 260,327 shares of the company's stock worth $19,363,000 after purchasing an additional 141,010 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company's stock.

Key Planet Fitness News

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

• Positive Sentiment: Q3 results topped expectations: Planet Fitness reported adjusted earnings of $0.83 per share versus the $0.81 consensus and revenue of about $360 million, up 9% year over year. The company also raised its 2026 forecast. Planet Fitness Raises 2026 Forecast After Q3 Earnings Beat
• Positive Sentiment: Large buyback authorization: The board approved a new $500 million share-repurchase program; Planet Fitness also repurchased and retired $50 million of shares during the quarter. Buybacks can support per-share results and signal confidence, though their impact depends on execution. Planet Fitness Announces Third Quarter 2026 Results
• Positive Sentiment: Analyst became more bullish: Wells Fargo raised its price target to $75 from $65 and maintained an “overweight” rating. Wells Fargo Raises Planet Fitness Price Target
• Positive Sentiment: Planned Black Card price increases: Management plans regional Black Card price hikes in Q2 2027, which could support future revenue per member. Planet Fitness: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: Growth and portfolio changes: Planet Fitness announced plans to enter Portugal through its acquisition of Be-Fit and began a strategic review of its domestic corporate-owned clubs, potentially including sales. The review’s outcome and financial effect are not yet clear. Planet Fitness Announces Third Quarter 2026 Results
• Neutral Sentiment: System-wide same-club sales increased 1.5% in Q3, a measure investors may watch alongside the stronger overall revenue growth. Planet Fitness Announces Third Quarter 2026 Results

Planet Fitness Company Profile

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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