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Planet Fitness Inc (NYSE:PLNT). stock reached an all-time high of 110.95 USD, marking a significant milestone for the company. According to InvestingPro data, the company commands a market capitalization of $9.25 billion and maintains impressive gross profit margins of nearly 60%. This achievement reflects a robust 44.41% increase over the past year, underscoring the company’s strong market performance and investor confidence. The fitness chain’s stock has been on an upward trajectory, driven by expanding membership numbers and strategic growth initiatives, with revenue growing at 10.26% over the last twelve months. As the company continues to capitalize on the growing demand for health and wellness services, its stock has become an attractive option for investors seeking growth in the sector. While analysts maintain a bullish outlook with price targets reaching up to $150, InvestingPro analysis suggests the stock may be trading above its Fair Value. For deeper insights, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro, covering over 1,400 US stocks including Planet Fitness.
In other recent news, Planet Fitness has seen several key developments that may interest investors. TD Cowen reiterated its Buy rating and set a price target of $125, citing the fitness chain’s potential to exceed earnings estimates due to strong sales and margins. Canaccord Genuity also raised its price target to $126, highlighting successful market share gains and stable membership trends despite concerns over the new click-to-cancel feature. JPMorgan increased its price target to $108 after discussions with Planet Fitness executives, expressing optimism about the company’s growth prospects under its current leadership. Stifel upgraded Planet Fitness to a Buy rating with a new price target of $120, noting potential growth from improved marketing strategies and possible legislative changes affecting gym memberships. Additionally, Planet Fitness announced updates following its annual stockholders’ meeting, including the approval of a new incentive plan and amendments to its charter. These changes are part of the company’s efforts to align with stockholder interests and enhance corporate governance.
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