TD Cowen Issues Pessimistic Forecast for Planet Fitness (NYSE:PLNT) Stock Price

Key Points

• TD Cowen cut its price target on Planet Fitness from $100 to $90 while maintaining a "buy" rating, a level the firm says implies roughly a 40% upside from the stock's current price (~$64.10).
• Planet Fitness posted a quarterly EPS beat ($0.83 vs. $0.79) and revenue of $376.3M, and set FY2026 guidance of $3.350–3.380 EPS, roughly in line with analysts' average forecast of $3.38.
• Analyst sentiment is mixed but overall positive with a consensus "Moderate Buy" and an average price target of $110.64, even as the stock trades near its 1-year low (~$64) well below its $114.47 1-year high.

Planet Fitness (NYSE:PLNT - Get Free Report) had its target price lowered by equities research analysts at TD Cowen from $100.00 to $90.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. TD Cowen's price target indicates a potential upside of 40.40% from the stock's current price.

A number of other research analysts have also recently issued reports on PLNT. Jefferies Financial Group reaffirmed a "buy" rating and issued a $175.00 target price on shares of Planet Fitness in a report on Tuesday, February 24th. Wells Fargo & Company initiated coverage on shares of Planet Fitness in a report on Wednesday, March 11th. They issued an "overweight" rating and a $90.00 target price for the company. Stifel Nicolaus dropped their price objective on shares of Planet Fitness from $105.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, April 24th. Morgan Stanley reissued an "overweight" rating and set a $117.00 price objective on shares of Planet Fitness in a research note on Tuesday, March 10th. Finally, Piper Sandler cut shares of Planet Fitness from an "overweight" rating to a "neutral" rating in a research note on Friday, February 27th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $110.64.

Planet Fitness Price Performance

Planet Fitness stock traded down $0.36 during mid-day trading on Wednesday, reaching $64.10. The company had a trading volume of 1,550,091 shares, compared to its average volume of 1,755,398. Planet Fitness has a 1 year low of $63.41 and a 1 year high of $114.47. The company has a market capitalization of $5.13 billion, a P/E ratio of 24.47, a P/E/G ratio of 1.15 and a beta of 1.31. The stock's 50-day simple moving average is $76.14 and its 200-day simple moving average is $92.35.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its earnings results on Tuesday, February 24th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.04. Planet Fitness had a net margin of 16.55% and a negative return on equity of 97.97%. The company had revenue of $376.26 million during the quarter, compared to analysts' expectations of $366.48 million. During the same period last year, the company posted $0.70 earnings per share. The firm'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. On average, equities analysts forecast that Planet Fitness will post 3.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PLNT. V Square Quantitative Management LLC purchased a new stake in Planet Fitness in the 4th quarter worth approximately $27,000. Clearstead Advisors LLC grew its stake 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 acquiring an additional 193 shares during the period. EverSource Wealth Advisors LLC grew its stake 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 acquiring an additional 214 shares during the period. 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. grew its stake 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 acquiring an additional 138 shares during the period. 95.53% of the stock is owned by hedge funds and other institutional investors.

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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