Planet Fitness (NYSE:PLNT) Shares Up 6% After Analyst Upgrade

Key Points

• Planet Fitness shares rose 6% after Morgan Stanley raised its price target from $47 to $51, though it maintained an “equal weight” rating and the new target remained below the stock’s recent trading level.
• Analysts hold a consensus “Moderate Buy” rating with an average price target of $70.24. The company recently exceeded quarterly expectations, reporting $0.88 in EPS and $365.22 million in revenue, with revenue up 7.1% year over year.
• Director Stephen Spinelli Jr. purchased 10,000 shares, while investors face legal overhang from a pending securities lawsuit alleging misleading disclosures about pricing, membership growth and guidance.

Shares of Planet Fitness, Inc. (NYSE:PLNT - Get Free Report) were up 6% during trading on Tuesday after Morgan Stanley raised their price target on the stock from $47.00 to $51.00. Morgan Stanley currently has an equal weight rating on the stock. Planet Fitness traded as high as $53.15 and last traded at $53.67. 1,312,042 shares changed hands during trading, a decline of 38% from the average session volume of 2,115,300 shares. The stock had previously closed at $50.63.

Other equities analysts have also recently issued research reports about the stock. Zacks Research upgraded shares of Planet Fitness from a "strong sell" rating to a "hold" rating in a research report on Friday, July 10th. Jefferies Financial Group set a $106.00 target price on Planet Fitness in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $55.00 price target on shares of Planet Fitness in a report on Wednesday, July 22nd. Canaccord Genuity Group upped their price target on Planet Fitness from $80.00 to $82.00 and gave the company a "buy" rating in a research report on Monday, July 20th. Finally, Roth Capital dropped their price objective on Planet Fitness from $109.00 to $64.00 and set a "buy" rating for the company in a report on Wednesday, May 20th. One 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 given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $70.24.

Insider Buying and Selling

In related news, Director Stephen Spinelli, Jr. acquired 10,000 shares of the firm's stock in a transaction on Monday, August 10th. The stock was acquired at an average cost of $49.28 per share, for a total transaction of $492,800.00. Following the acquisition, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.90% of the company's stock.

Planet Fitness News Roundup

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

• Positive Sentiment: Morgan Stanley increased its Planet Fitness price target from $47 to $51, citing valuation support. However, the new target remains below the recent trading level, and the firm retained its “equal weight” rating. Benzinga
• Neutral Sentiment: Multiple law firms reiterated that investors have until September 14, 2026 to seek lead-plaintiff status in a securities class action covering shareholders who purchased Planet Fitness securities between November 6, 2025, and May 6, 2026. The notices themselves are largely promotional and do not represent new findings against the company. SueWallSt shareholder deadline notice
• Negative Sentiment: The pending lawsuit alleges that Planet Fitness made misleading disclosures concerning Black Card pricing, net membership growth, marketing, and same-club sales guidance before lowering its 2026 targets and withdrawing its three-year growth algorithm. Several law firms say these developments preceded an approximately 31% one-day stock decline, creating potential legal and reputational overhang for PLNT. Bleichmar Fonti & Auld class action notice

Hedge Funds Weigh In On Planet Fitness

Several hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its holdings in Planet Fitness by 184.5% in the second quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company's stock worth $36,000 after buying an additional 214 shares during the period. Clearstead Advisors LLC grew its holdings in shares of 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 acquiring an additional 193 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of Planet Fitness in the 4th quarter worth approximately $41,000. Versant Capital Management Inc raised its position in shares of Planet Fitness by 285.9% in the 2nd quarter. Versant Capital Management Inc now owns 494 shares of the company's stock worth $26,000 after acquiring an additional 366 shares in the last quarter. Finally, Danske Bank A S purchased a new position in shares of Planet Fitness in the 3rd quarter valued at approximately $52,000. Hedge funds and other institutional investors own 95.53% of the company's stock.

Planet Fitness Trading Up 6.0%

The company has a market cap of $4.05 billion, a PE ratio of 18.17, a PEG ratio of 1.08 and a beta of 1.03. The stock has a 50 day moving average price of $52.38 and a 200 day moving average price of $64.99.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.03. The company had revenue of $365.22 million for the quarter, compared to analysts' expectations of $356.21 million. Planet Fitness had a negative return on equity of 59.46% and a net margin of 16.88%.The firm'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 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.254-3.254 EPS. Equities analysts expect that Planet Fitness, Inc. will post 3.21 EPS for the current fiscal 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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