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Investing.com - Stifel has reiterated its Buy rating on Planet Fitness (NYSE:PLNT) stock, maintaining a price target of $120.00. According to InvestingPro data, analyst targets range from $105 to $175, with the stock currently trading near $104, suggesting potential upside. The company maintains impressive gross profit margins of 59.7%.
The research firm expects Planet Fitness to benefit from its expanded advertising budget and more effective marketing strategies, which it believes will drive better-than-expected same-store sales growth.
Stifel also anticipates minimal consumer resistance to the upcoming Black Card membership price increase, suggesting the company should be able to implement the change without significant customer pushback.
The firm noted that investors reacted negatively to management’s comments about a slightly higher click-to-cancel attrition rate, despite Planet Fitness beating second-quarter expectations and raising guidance. Stifel believes this market reaction was excessive and presents a buying opportunity for investors.
The research firm also highlighted that Planet Fitness’s innovation opportunities should drive stronger returns and potentially encourage franchisees to accelerate new location openings.
In other recent news, Planet Fitness reported its second-quarter 2025 earnings, surpassing both earnings per share and revenue expectations. The company posted an EPS of $0.86, exceeding the forecast of $0.79, and reported revenue of $340.9 million, surpassing the anticipated $329.56 million. Jefferies reiterated its Buy rating with a $175.00 price target, highlighting the fitness chain’s 8.2% same-store sales growth, which exceeded consensus estimates of 5.9%. This marks 16 consecutive quarters of mid-single-digit or higher comparable sales for Planet Fitness. Additionally, Guggenheim raised its price target on the stock to $120 from $110, maintaining a Buy rating. Raymond James also increased its price target to $122 from $110, while keeping a Strong Buy rating. These adjustments reflect the firm’s updated earnings estimates and price-to-earnings multiples. These developments indicate continued analyst confidence in Planet Fitness’s performance and growth prospects.
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