Planet Fitness (NYSE:PLNT) Downgraded by Morgan Stanley to Equal Weight

Key Points

• Morgan Stanley downgraded Planet Fitness from "overweight" to "equal weight" and set a $47 price target, implying about an 8.2% upside from current levels.
• Multiple other firms have trimmed ratings and targets (including KGI, Piper Sandler, William Blair, Baird and JPMorgan), yet the MarketBeat consensus remains a “Moderate Buy” with a $87.62 average price target.
• Planet Fitness beat Q1 estimates (EPS $0.74 vs. $0.63; revenue $337.2M) but issued a guidance cut to $3.19 FY‑2026 EPS, canceled planned price hikes, leading to a sharp share drop and the opening of shareholder investigations.

Planet Fitness (NYSE:PLNT - Get Free Report) was downgraded by investment analysts at Morgan Stanley from an "overweight" rating to an "equal weight" rating in a report released on Friday. They currently have a $47.00 target price on the stock. Morgan Stanley's target price points to a potential upside of 8.23% from the company's current price.

A number of other equities research analysts also recently weighed in on the company. KGI Securities downgraded Planet Fitness to a "neutral" rating and set a $50.50 price target for the company. in a report on Friday. Piper Sandler downgraded Planet Fitness from an "overweight" rating to a "neutral" rating in a report on Friday, February 27th. William Blair downgraded Planet Fitness from an "outperform" rating to a "market perform" rating in a report on Thursday. Robert W. Baird lowered their price target on Planet Fitness from $112.00 to $100.00 and set an "outperform" rating for the company in a report on Tuesday. Finally, JPMorgan Chase & Co. lowered their price target on Planet Fitness from $120.00 to $105.00 and set an "overweight" rating for the company in a report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Planet Fitness currently has a consensus rating of "Moderate Buy" and a consensus price target of $87.62.

Planet Fitness Stock Down 1.3%

Shares of NYSE PLNT opened at $43.43 on Friday. Planet Fitness has a fifty-two week low of $37.03 and a fifty-two week high of $114.47. The business has a 50 day moving average price of $73.19 and a two-hundred day moving average price of $91.18. The firm has a market cap of $3.47 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 1.11 and a beta of 1.12.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.11. Planet Fitness had a negative return on equity of 97.97% and a net margin of 16.55%.The firm had revenue of $337.24 million during the quarter, compared to analyst estimates of $298.60 million. During the same quarter last year, the firm earned $0.59 EPS. Planet Fitness's quarterly revenue was up 21.9% on a year-over-year basis. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. On average, analysts anticipate that Planet Fitness will post 3.38 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PLNT. V Square Quantitative Management LLC acquired a new position in Planet Fitness during the 4th quarter worth $27,000. Clearstead Advisors LLC raised its stake in shares of Planet Fitness by 135.9% in the 4th quarter. Clearstead Advisors LLC now owns 335 shares of the company's stock worth $36,000 after buying an additional 193 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Planet Fitness by 184.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company's stock worth $36,000 after buying an additional 214 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Planet Fitness in the 4th quarter worth $41,000. Finally, Hantz Financial Services Inc. raised its stake in shares of Planet Fitness by 51.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 404 shares of the company's stock worth $42,000 after buying an additional 138 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company's stock.

Planet Fitness News Summary

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

• Positive Sentiment: Q1 beat — Planet Fitness reported $0.74 EPS vs. $0.63 consensus and revenue of $337.24M (above estimates); systemwide same‑club sales rose and memberships ended the quarter near 21.5M, showing underlying demand. PR Newswire: Q1 Results
• Neutral Sentiment: Analysts and media are re‑examining PLNT’s valuation after the guidance cut and weaker membership commentary; coverage is exploring whether the miss is cyclical or structural. Yahoo Finance: Valuation After Guidance Cut
• Neutral Sentiment: Headline pieces note PLNT among stocks hitting 52‑week lows as investors react to recent developments. MSN: 52-Week Low Coverage
• Negative Sentiment: Guidance cut and canceled price hikes — management lowered FY‑2026 EPS guidance to $3.19 (below consensus ~3.37) and said planned membership price increases were canceled after a weak sign‑up period, prompting investor concern about near‑term growth and pricing power. CNBC: Guidance Cut, Canceled Price Hikes
• Negative Sentiment: Shares plunged intra‑day (trading volatility and a temporary LULD pause were reported) as the market focused on the weaker outlook despite the beat. Benzinga: Shares Fall >30%
• Negative Sentiment: Analyst reactions — Bank of America kept a "neutral" rating but slashed its price target to $59 from $110; William Blair downgraded to market perform and other firms trimmed targets, increasing sell pressure. Benzinga: BofA PT Cut
• Negative Sentiment: Shareholder investigations — law firms Ademi LLP and Johnson Fistel have opened probes into potential securities claims related to Planet Fitness’s disclosures, which adds legal and reputational risk. PR Newswire: Ademi LLP Investigation GlobeNewswire: Johnson Fistel 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.

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