Morgan Stanley Raises Planet Fitness (NYSE:PLNT) Price Target to $51.00

Key Points

• Morgan Stanley raised Planet Fitness’s price target from $47 to $51 while maintaining an “equal weight” rating, implying only 0.87% upside from the $50.56 share price. The broader analyst consensus remains “Moderate Buy,” with an average target of $70.24.
• Planet Fitness exceeded quarterly expectations, reporting $0.88 in earnings per share versus the $0.85 consensus and revenue of $365.22 million versus $356.21 million expected. Revenue increased 7.1% year over year.
• Director Stephen Spinelli Jr. purchased 10,000 shares for approximately $492,800, increasing his position by 28.16%. However, the stock remains well below its 52-week high, and ongoing class-action litigation contributes to negative investor sentiment.

Planet Fitness (NYSE:PLNT - Get Free Report) had its price target hoisted by investment analysts at Morgan Stanley from $47.00 to $51.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's price target points to a potential upside of 0.87% from the stock's current price.

A number of other analysts have also issued reports on the company. Roth Capital cut their target price on Planet Fitness from $109.00 to $64.00 and set a "buy" rating on the stock in a research report on Wednesday, May 20th. KeyCorp lowered their target price on Planet Fitness from $100.00 to $65.00 and set an "overweight" rating for the company in a report on Friday, May 8th. Bank of America reiterated a "neutral" rating and set a $59.00 price target (down from $110.00) on shares of Planet Fitness in a research note on Friday, May 8th. Stifel Nicolaus dropped their price objective on shares of Planet Fitness from $105.00 to $90.00 and set a "buy" rating for the company in a report on Friday, April 24th. Finally, Jefferies Financial Group set a $106.00 price target on shares of 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 given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $70.24.

Planet Fitness Price Performance

Shares of PLNT stock opened at $50.56 on Tuesday. The business has a fifty day moving average of $52.38 and a 200 day moving average of $64.99. Planet Fitness has a 1 year low of $37.03 and a 1 year high of $114.26. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 1.08 and a beta of 1.03.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.85 by $0.03. The business had revenue of $365.22 million for the quarter, compared to the consensus estimate of $356.21 million. Planet Fitness had a net margin of 16.88% and a negative return on equity of 59.46%. The business's revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 EPS. Planet Fitness has set its FY 2026 guidance at 3.254-3.254 EPS. As a group, equities research analysts expect that Planet Fitness will post 3.21 earnings per share for the current year.

Insider Transactions at Planet Fitness

In other Planet Fitness news, Director Stephen Spinelli, Jr. bought 10,000 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was purchased at an average cost of $49.28 per share, for a total transaction of $492,800.00. Following the completion of the purchase, the director owned 45,516 shares of the company's stock, valued at $2,243,028.48. This trade represents a 28.16% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.90% of the company's stock.

Institutional Investors Weigh In On Planet Fitness

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. increased its holdings in Planet Fitness by 1.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 9,236,173 shares of the company's stock valued at $1,001,848,000 after purchasing an additional 149,503 shares in the last quarter. SRS Investment Management LLC boosted its position in shares of Planet Fitness by 4.5% in the fourth quarter. SRS Investment Management LLC now owns 4,877,578 shares of the company's stock worth $529,071,000 after buying an additional 212,145 shares during the period. Steadfast Capital Management LP grew its stake in shares of Planet Fitness by 4.6% in the third quarter. Steadfast Capital Management LP now owns 1,888,992 shares of the company's stock valued at $196,077,000 after buying an additional 83,215 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Planet Fitness by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,658,435 shares of the company's stock valued at $179,924,000 after buying an additional 26,575 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Planet Fitness by 1.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,389,098 shares of the company's stock worth $134,201,000 after acquiring an additional 24,981 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness News Summary

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

• Positive Sentiment: Director Stephen Spinelli Jr. purchased 10,000 Planet Fitness shares for approximately $492,800 on August 10, increasing his direct stake by 28%. The insider buying may signal confidence in the company’s long-term prospects. Planet Fitness Director Spinelli Buys 10,000 Shares
• Neutral Sentiment: The latest announcements largely repeat the same class-action information from different law firms rather than introduce new operating or financial developments. Investors who bought PLNT shares between November 6, 2025, and May 6, 2026, may seek appointment as lead plaintiff before the September 14 deadline. Rosen Planet Fitness Class Action Notice
• Negative Sentiment: The volume of legal notices reinforces investor concerns about potential litigation costs, management credibility, and disclosure practices. The stock has decreased substantially from its 52-week high and remains below its 50-day and 200-day moving averages, suggesting that the litigation overhang is adding to already weak sentiment. Levi and Korsinsky Planet Fitness Class Action Notice

About Planet Fitness

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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