On Nov 08, major Wall Street analysts update their ratings for $Planet Fitness (PLNT.US)$, with price targets ranging from $99 to $130.
BofA Securities analyst Alexander Perry maintains with a buy rating, and adjusts the target price from $100 to $110.
Macquarie analyst Paul Golding downgrades to a hold rating, and sets the target price at $99.
Jefferies analyst Randal Konik maintains with a buy rating, and adjusts the target price from $100 to $130.
TD Cowen analyst Max Rakhlenko maintains with a buy rating, and adjusts the target price from $92 to $110.
Baird analyst Jonathan Komp maintains with a buy rating, and adjusts the target price from $92 to $110.
Furthermore, according to the comprehensive report, the opinions of $Planet Fitness (PLNT.US)$'s main analysts recently are as follows:
Planet Fitness has been reported to have strong financial performance. Analysts recommend seizing opportunistic buying moments during market dips, considering the potential fluctuations in the stock's value.
The firm noted that Planet Fitness's Q3 revenue and adjusted EBITDA exceeded consensus expectations, with comparable sales and membership numbers surpassing forecasts. The company also received a positive initial response to the Classic Card price increase.
Planet Fitness has seen a 30% increase in share value year-to-date, which is attributed to the company's ability to command higher prices and introduce new equipment. However, there has been a notable slowdown in the growth of memberships. Analysts suggest that the current share price already accounts for the company's ability to increase prices. They recommend a cautious approach due to a combination of mixed factors and a deceleration in new members joining.
The assessment of Planet Fitness describes their third-quarter outcomes as robust. The comparison is made that 'Planet is the Amazon of gyms.' It is noted that with the initiation of the new CEO and the upcoming start of a new CFO, executive leadership is considered strong. There is anticipation for an uptick in comparable store sales and an increase in the pace of new gym constructions projected to last into 2025 and further.
Here are the latest investment ratings and price targets for $Planet Fitness (PLNT.US)$ from 6 analysts:
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
