Wells Fargo & Company Has Lowered Expectations for Planet Fitness (NYSE:PLNT) Stock Price

Key Points

• Wells Fargo cut its price target on Planet Fitness from $90 to $80 but kept an "overweight" rating, saying the new target still implies about a 24.6% upside from the prior close.
• Analysts remain generally positive overall—MarketBeat shows a consensus rating of "Moderate Buy" with a consensus target of $109.27—even as several firms trimmed their targets recently.
• Planet Fitness beat quarterly expectations (EPS $0.83 vs. $0.79; revenue $376.26M vs. $366.48M) and set FY2026 guidance of $3.350–3.380 EPS, roughly in line with analyst forecasts of $3.38.

Planet Fitness (NYSE:PLNT - Get Free Report) had its price objective cut by Wells Fargo & Company from $90.00 to $80.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective suggests a potential upside of 24.63% from the stock's previous close.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. lowered their target price on Planet Fitness from $120.00 to $105.00 and set an "overweight" rating for the company in a report on Wednesday, February 25th. Morgan Stanley reiterated an "overweight" rating and issued a $117.00 target price on shares of Planet Fitness in a report on Tuesday, March 10th. UBS Group reiterated a "buy" rating on shares of Planet Fitness in a report on Wednesday, March 18th. Stifel Nicolaus lowered their target price on Planet Fitness from $105.00 to $90.00 and set a "buy" rating for the company in a report on Friday, April 24th. Finally, TD Cowen lowered their target price on Planet Fitness from $100.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 29th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Planet Fitness currently has an average rating of "Moderate Buy" and a consensus target price of $109.27.

Planet Fitness Trading Up 1.4%

PLNT stock traded up $0.90 during mid-day trading on Tuesday, reaching $64.19. The company's stock had a trading volume of 158,576 shares, compared to its average volume of 1,748,441. The company has a market cap of $5.14 billion, a price-to-earnings ratio of 24.52, a price-to-earnings-growth ratio of 1.13 and a beta of 1.12. The business's 50 day moving average price is $75.05 and its 200 day moving average price is $91.95. Planet Fitness has a 12 month low of $62.38 and a 12 month high of $114.47.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC purchased a new position in shares of Planet Fitness during the fourth quarter valued at approximately $27,000. Clearstead Advisors LLC boosted its position in shares of Planet Fitness by 135.9% during the fourth quarter. Clearstead Advisors LLC now owns 335 shares of the company's stock valued at $36,000 after buying an additional 193 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Planet Fitness by 184.5% during the second quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company's stock valued at $36,000 after buying an additional 214 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Planet Fitness during the fourth quarter valued at approximately $41,000. Finally, Hantz Financial Services Inc. boosted its position in shares of Planet Fitness by 51.9% during the third quarter. Hantz Financial Services Inc. now owns 404 shares of the company's stock valued at $42,000 after buying an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company's stock.

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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