On Nov 09, major Wall Street analysts update their ratings for $Planet Fitness (PLNT.US)$, with price targets ranging from $100 to $114.
Morgan Stanley analyst Megan Alexander maintains with a buy rating, and adjusts the target price from $89 to $114.
BofA Securities analyst Alexander Perry maintains with a buy rating, and maintains the target price at $110.
TD Cowen analyst Max Rakhlenko maintains with a buy rating, and maintains the target price at $110.
BMO Capital analyst Simeon Siegel maintains with a buy rating, and adjusts the target price from $87 to $100.
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:
The company's robust results were highlighted, and it is suggested to seize opportunities during share price dips due to the possibility of volatility in the stock.
The company demonstrated robust third-quarter outcomes, especially considering the widespread apprehensions investors held prior to the announcement. The expectation is that the company's solid foundational business will propel enduring value for its stock.
The company showcased a robust third quarter and improved its guidance for FY24, mainly due to an uptick in equipment sales. The performance exceeded expectations following price increases, and with a shift in marketing strategies to attract a wider customer base, this could potentially accelerate membership growth in FY25.
The multi-year bullish perspective on Planet Fitness is beginning to materialize, and the stance is particularly favorable, especially after acknowledging that previous short-term forecasts were too conservative.
The firm noted that Planet Fitness exceeded expectations in Q3 revenue and adjusted EBITDA, with comparative sales and membership numbers surpassing forecasts, which also includes positive initial responses to the Classic Card's price rise.
Here are the latest investment ratings and price targets for $Planet Fitness (PLNT.US)$ from 6 analysts:
Note:
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