Planet Fitness (NYSE:PLNT) Given New $100.00 Price Target at Robert W. Baird

Key Points

• Robert W. Baird cut its price target on Planet Fitness from $112 to $100 while keeping an "outperform" rating, with the new target implying about a 58.10% upside from the stock's prior close.
• The analyst consensus remains a "Moderate Buy" with a mean price target of $109.93, even as several firms (JPMorgan, RBC, Stifel and others) have trimmed their targets in recent months.
• Planet Fitness recently beat quarterly expectations—EPS $0.83 vs. $0.79 est. and revenue $376.26M vs. $366.48M (+10.5% YoY)—and set FY2026 guidance of $3.35–$3.38 EPS, in line with analyst forecasts.

Planet Fitness (NYSE:PLNT - Get Free Report) had its price target cut by analysts at Robert W. Baird from $112.00 to $100.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Robert W. Baird's price target points to a potential upside of 58.10% from the stock's previous close.

PLNT has been the topic of several other reports. William Blair restated an "outperform" rating on shares of Planet Fitness in a research note on Tuesday, January 13th. JPMorgan Chase & Co. lowered their price target on Planet Fitness from $120.00 to $105.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 25th. UBS Group restated a "buy" rating on shares of Planet Fitness in a research note on Wednesday, March 18th. Royal Bank Of Canada lowered their price target on Planet Fitness from $120.00 to $85.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 29th. Finally, Stifel Nicolaus lowered their price target on Planet Fitness from $105.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, April 24th. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $109.93.

Planet Fitness Stock Down 3.3%

Shares of PLNT opened at $63.25 on Tuesday. Planet Fitness has a 12-month low of $62.38 and a 12-month high of $114.47. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of 24.14, a P/E/G ratio of 1.13 and a beta of 1.12. The stock's 50-day moving average price is $75.05 and its 200 day moving average price is $91.95.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.04. Planet Fitness had a negative return on equity of 97.97% and a net margin of 16.55%.The firm had revenue of $376.26 million for the quarter, compared to analyst estimates of $366.48 million. During the same period in the previous year, the company posted $0.70 earnings per share. The company's quarterly revenue was up 10.5% compared to the same quarter last year. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. Equities research analysts expect that Planet Fitness will post 3.38 EPS for the current year.

Institutional Investors Weigh In On Planet Fitness

Several large investors have recently modified their holdings of PLNT. Goldman Sachs Group Inc. grew its stake in shares of Planet Fitness by 1.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,389,098 shares of the company's stock valued at $134,201,000 after purchasing an additional 24,981 shares during the period. Empowered Funds LLC bought a new stake in shares of Planet Fitness in the 1st quarter valued at approximately $1,891,000. EverSource Wealth Advisors LLC grew 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 valued at $36,000 after purchasing an additional 214 shares during the period. First Trust Advisors LP boosted its holdings in shares of Planet Fitness by 25.8% in the 2nd quarter. First Trust Advisors LP now owns 142,689 shares of the company's stock worth $15,560,000 after acquiring an additional 29,305 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in shares of Planet Fitness in the 2nd quarter worth approximately $267,000. 95.53% of the stock is currently owned by institutional investors.

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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