Planet Fitness

PLNT · NYSE

$52.96+$0.07 (+0.13%)TodayMarket closed · Oct 20, 7:51 PM ET

Prev close $52.89

PLNT analyst rating

BuyConsensus of 14 analysts over the last 12 months. 71% rate it a buy.

Strong buy0
Buy10
Hold4
Underperform0
Sell0

12-month price target · 20 analysts

Average $68.83 (+30.0% upside)

Low: $49.69
Now: $52.96
High: $111.30

Upgrades and downgrades

The latest rating actions, newest first

PLNT analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
RBC Capital	Oct 5, 2026	Maintains	Outperform	$65.00 → $60.00	27%
Baird	Oct 5, 2026	Maintains	Outperform	$72.00 → $60.00	49%
Morgan Stanley	Aug 18, 2026	Maintains	Equal-Weight	$47.00 → $51.00	60%
RBC Capital	Aug 7, 2026	Maintains	Outperform	$70.00 → $65.00	27%
Canaccord Genuity	Jul 20, 2026	Maintains	Buy	$80.00 → $82.00	49%
JP Morgan	Jul 9, 2026	Maintains	Overweight	$60.00 → $62.00	47%
Roth Capital	May 20, 2026	Maintains	Buy	$109.00 → $64.00	49%
UBS	May 15, 2026	Maintains	Buy	$120.00 → $79.00	46%
Macquarie	May 8, 2026	Maintains	Neutral	$90.00 → $45.00	47%
TD Cowen	May 8, 2026	Downgrade	Buy → Hold	$90.00 → $50.00	54%

The case for and against

Updated Oct 14, 2026

Bull case

Planet Fitness is viewed favorably because its highly franchised model, recurring royalty and membership streams, and dominant HVLP positioning provide durable cash generation even in a still-uncertain macro backdrop. Recent operating trends support that view: revenue beat consensus by 2.4%, SSS rose 1.7%, EBITDA beat by 1.0%, and Black Card mix reaccelerated to 67.9% in Q2, while NPS improved 9 points y/y, signaling better retention and stronger long-term membership growth. Although near-term member growth and guidance were softer, the company still has a path to expand from >2,300 domestic clubs toward 4,000+, with valuation at historical trough multiples and $200m of stock repurchases reinforcing upside fundamentals.

Bear case

Planet Fitness is facing a weaker fundamental setup as management lowered FY26 guidance to +1% same-club sales, +7% revenue, and +6% adjusted EBITDA growth after softer 1Q net joins, while attributing roughly 1.5% of the comp reset to paused Black Card price increases and the rest to weaker member growth. The outlook is further pressured by implied 2H same-store-sales deceleration, elevated churn near 3.8% per month, competitive intensity from HVLP rivals, and uncertainty around the $10 promo that could cap pricing power and push membership mix toward lower-rate plans. With marketing still being reset after missing its core beginner audience and Summer Pass participation only tracking in line year over year, the company appears more exposed to slower demand and lower-margin growth than its valuation can comfortably absorb.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.