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Investing.com - JPMorgan has reiterated an Overweight rating on Planet Fitness (NYSE:PLNT) with a price target of $108.00 ahead of the company’s third-quarter 2025 results. The target represents significant upside potential from the current price of $92.31, though InvestingPro analysis indicates the stock is currently trading near its Fair Value.
The fitness chain is scheduled to report its quarterly earnings on November 6, followed by an Analyst Day event in Boston on November 13, according to JPMorgan’s research note. The company enters earnings season with impressive gross margins of 59.7% and healthy revenue growth of 12.5% over the last twelve months.
Planet Fitness shares have underperformed in the second half of 2025, losing more than 10% of market capitalization following 10 consecutive negative trading sessions since September 30.
The stock’s recent decline comes after outperforming the S&P 500 by 4% and various retail and consumer discretionary indices by 11-14% during the first half of 2025.
JPMorgan attributes the recent underperformance to several factors, including seasonal weakness in September, extended timeframes for churn normalization leading to lower net membership additions, uncertainty among low and middle-income consumers, and growing competition in the high-value, low-price fitness segment. For deeper insights into Planet Fitness’s competitive position and additional ProTips, visit InvestingPro, where you’ll find comprehensive analysis and the full Pro Research Report.
In other recent news, Planet Fitness has reported a notable increase in same-store sales growth of 8.2%, surpassing the consensus estimate of 5.9%. This marks the 16th consecutive quarter of mid-single-digit or higher comparable sales, as highlighted by Jefferies, which maintains a Buy rating and a $175 price target for the company. Guggenheim also maintained a Buy rating while raising its price target from $110 to $120, attributing the increase to Planet Fitness’s performance relative to the S&P 500 and management’s commentary on sales strategies. Similarly, Raymond James adjusted its price target to $122 from $110, maintaining a Strong Buy rating based on future earnings projections. Stifel reiterated its Buy rating with a $120 price target, expressing optimism about the company’s enhanced advertising efforts and marketing strategies. TD Cowen reaffirmed its Buy rating with a $135 price target, despite recent stock pressures. These developments reflect analysts’ confidence in Planet Fitness’s ongoing growth and strategic initiatives.
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