Planet Fitness (NYSE:PLNT) Earns Neutral Rating from Bank of America

Key Points

• Bank of America reissued a "neutral" rating and cut its price target to $59 from $110, implying roughly a 36.8% upside from the prior close.
• Planet Fitness beat Q1 estimates (EPS $0.74 vs. $0.63; revenue $337.2M, +21.9% y/y) but lowered FY‑2026 guidance to $3.19 and canceled planned price hikes, triggering a >30% share plunge, trading halts, analyst downgrades, and shareholder investigations.
• Despite the selloff, MarketBeat's consensus remains a Moderate Buy with an average price target of $100.38, while the stock was trading around $43.14, well below its 52‑week high of $114.47.

Planet Fitness (NYSE:PLNT - Get Free Report)'s stock had its "neutral" rating reissued by stock analysts at Bank of America in a report issued on Friday,Benzinga reports. They currently have a $59.00 target price on the stock, down from their prior target price of $110.00. Bank of America's target price would suggest a potential upside of 36.76% from the stock's previous close.

Several other equities research analysts have also weighed in on PLNT. Wells Fargo & Company lowered their target price on shares of Planet Fitness from $90.00 to $80.00 and set an "overweight" rating on the stock in a report on Tuesday. TD Cowen lowered shares of Planet Fitness from a "buy" rating to a "hold" rating in a report on Friday. Canaccord Genuity Group lowered their target price on shares of Planet Fitness from $128.00 to $122.00 and set a "buy" rating on the stock in a report on Friday, April 10th. Zacks Research lowered shares of Planet Fitness from a "hold" rating to a "strong sell" rating in a report on Monday, March 2nd. Finally, Stifel Nicolaus lowered their target price on shares of Planet Fitness from $105.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $100.38.

Planet Fitness Stock Performance

Shares of PLNT stock opened at $43.14 on Friday. Planet Fitness has a 52-week low of $37.03 and a 52-week high of $114.47. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 16.47, a P/E/G ratio of 1.11 and a beta of 1.12. The firm has a fifty day moving average of $73.19 and a 200-day moving average of $91.18.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.11. Planet Fitness had a net margin of 16.55% and a negative return on equity of 97.97%. The company had revenue of $337.24 million during the quarter, compared to analysts' expectations of $298.60 million. During the same quarter in the prior year, the company posted $0.59 EPS. The business's 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, sell-side analysts predict that Planet Fitness will post 3.38 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new position in Planet Fitness during the 4th quarter worth about $27,000. Clearstead Advisors LLC lifted its position in Planet Fitness by 135.9% during 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 lifted its position in Planet Fitness by 184.5% during 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 acquired a new position in Planet Fitness during the 4th quarter worth about $41,000. Finally, Hantz Financial Services Inc. lifted its position in Planet Fitness by 51.9% during 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.

Key Headlines Impacting Planet Fitness

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

• Positive Sentiment: Q1 beat — Planet Fitness reported Q1 EPS of $0.74 vs. consensus $0.63 and revenue of $337.2M (above estimates), with systemwide same‑club sales up and revenue up ~21.9% year‑over‑year. This shows underlying demand and helped the company beat street expectations. Planet Fitness, Inc. Announces First Quarter 2026 Results
• Positive Sentiment: Membership base and trends — Planet Fitness ended the quarter with ~21.5 million members and reported modest same‑club sales growth, evidence the franchise model and scale remain intact even as sign‑up momentum softened. Planet Fitness, Inc. Announces First Quarter 2026 Results
• Neutral Sentiment: Valuation and coverage pieces — Several articles are re‑examining PLNT’s valuation after the guidance change; these analyses are informing investor debate on whether the selloff creates a buying opportunity or signals longer‑term weakness. A Look At Planet Fitness (PLNT) Valuation After Guidance Cut And Membership Growth Concerns
• Neutral Sentiment: Intraday volatility — Trading was briefly halted under an LULD pause during the heavy move, reflecting sharp intraday volatility rather than new fundamental information. (Market halt reported in coverage.)
• Negative Sentiment: Guidance cut & canceled price hikes — Management lowered FY‑2026 EPS guidance to $3.19 (below consensus ~3.37) and canceled planned membership price increases after a “slow” start to the year, citing internal and external headwinds. That guidance reset is the primary driver of the selloff. Planet Fitness stock plunges 30% after company slashes guidance, cancels planned price hikes
• Negative Sentiment: Share price reaction & downgrades — Headlines noted a >30% plunge and intraday halts; firms have cut ratings and price targets (William Blair downgrade, Robert W. Baird cut target), amplifying downside pressure. Robert W. Baird Lowers Planet Fitness NYSE: PLNT Price Target to $100.00
• Negative Sentiment: Shareholder investigations — Two law firms have opened inquiries into potential securities claims regarding Planet Fitness’s disclosures, which raises legal and governance overhangs for the stock. Shareholder Alert: Ademi LLP Investigates Claims of Securities Fraud against Planet Fitness, Inc. Planet Fitness, Inc. Shareholders Are Encouraged to Reach Out to Johnson Fistel

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.

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