Planet Fitness (NYSE:PLNT) Sets New 1-Year Low After Analyst Downgrade

Key Points

• Planet Fitness stock hit a new 52-week low after William Blair downgraded PLNT from Outperform to Market Perform, trading as low as $37.03 and plunging roughly 33% intraday from the prior close.
• The company beat Q1 estimates (EPS $0.74 vs. $0.63; revenue $337.2M, ~22% y/y; memberships near 21.5M) but issued weaker FY2026 guidance (EPS $3.19 vs. ~3.37 consensus) and canceled planned price increases, weighing on the near-term outlook.
• Analyst sentiment is mixed with multiple price-target cuts yet an average target of $109.27 and a "Moderate Buy" consensus, while the shares currently trade at a $3.41B market cap and a P/E of 16.27, highlighting a disconnect between targets and market price.

Planet Fitness, Inc. (NYSE:PLNT - Get Free Report)'s stock price hit a new 52-week low on Thursday after William Blair downgraded the stock from an outperform rating to a market perform rating. The stock traded as low as $37.03 and last traded at $44.10, with a volume of 3024623 shares traded. The stock had previously closed at $63.96.

PLNT has been the topic of several other research reports. TD Cowen cut their price target on shares of Planet Fitness from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, April 29th. UBS Group reiterated a "buy" rating on shares of Planet Fitness in a report on Wednesday, March 18th. Piper Sandler downgraded shares of Planet Fitness from an "overweight" rating to a "neutral" rating in a report on Friday, February 27th. Macquarie Infrastructure cut their price target on shares of Planet Fitness from $112.00 to $100.00 and set a "neutral" rating on the stock in a report on Thursday, January 29th. Finally, Royal Bank Of Canada cut their price target on shares of Planet Fitness from $120.00 to $85.00 and set an "outperform" rating on the stock in a report on Wednesday, April 29th. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $109.27.

Key Planet Fitness News

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

• Positive Sentiment: Q1 results beat expectations — Planet Fitness reported $0.74 EPS vs. $0.63 expected and revenue of $337.2M (≈22% y/y growth); system-wide same-club sales rose ~3.5% and membership ended the quarter near 21.5M. Zacks: Planet Fitness Tops Q1
• Neutral Sentiment: Trading was temporarily halted early in the session for an exchange LULD (limit up/limit down) pause — a technical market control rather than company-specific news, but it can amplify intraday volatility.
• Neutral Sentiment: Robert W. Baird trimmed its price target to $100 — a reduction in view but still well above current levels, so impact is mixed. American Banking News: Baird Lowers PT
• Neutral Sentiment: Wells Fargo cut its price target from $90 to $80 but maintained an overweight rating — reflects differing analyst views on recovery potential despite recent weakness. TickerReport / Benzinga note
• Negative Sentiment: Company issued weaker FY2026 guidance — EPS guide set at $3.19 (versus ~ $3.37 consensus) and revenue guidance centered around ~$1.4B, signaling slower growth and reducing near-term earnings expectations. Company Press Release / Guidance
• Negative Sentiment: Management cited weak signups in the crucial New Year period and canceled planned price increases — WSJ reports this and notes management cut growth projections, which directly pressures forward revenue and margin assumptions. WSJ: Planet Fitness Slashes 2026 Views
• Negative Sentiment: Analyst action: William Blair downgraded PLNT from Outperform to Market Perform — another signal that sell-side conviction has softened after the guidance cut.

Institutional Investors Weigh In On Planet Fitness

Hedge funds have recently bought and sold shares of the stock. V Square Quantitative Management LLC purchased a new stake in Planet Fitness in the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC boosted its position in 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 purchasing an additional 214 shares in the last quarter. Clearstead Advisors LLC boosted its position in 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 purchasing an additional 193 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in Planet Fitness in the 4th quarter worth approximately $41,000. Finally, Hantz Financial Services Inc. boosted its position in 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 purchasing an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company's stock.

Planet Fitness Trading Down 33.3%

The stock has a market cap of $3.41 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 1.12 and a beta of 1.12. The business has a 50-day moving average price of $73.99 and a 200-day moving average price of $91.54.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its earnings results 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 negative return on equity of 97.97% and a net margin of 16.55%.The firm had revenue of $337.24 million for the quarter, compared to analyst estimates of $298.60 million. During the same quarter last year, the firm 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. Equities analysts expect that Planet Fitness, Inc. will post 3.38 earnings per share for the current year.

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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