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Planet Fitness Stock Sees Surge After Analyst Upgrade
19 Aug
Summary
- Morgan Stanley raised its price target to $51, a slight increase.
- The company's recent earnings and revenue surpassed analyst expectations.
- Planet Fitness stock is down significantly year-to-date and from its 52-week high.
Shares of Planet Fitness experienced a notable increase of 4.7% in recent trading. This rise followed an announcement that Morgan Stanley had raised its price target for the company's stock from $47 to $51. Although this represents a valuation adjustment rather than a strong bullish endorsement, the market reacted positively. The stock closed at $53.36, marking a 5.4% gain from the previous close.
This uptick occurred subsequent to Planet Fitness's August 6th quarterly report, which revealed earnings per share of $0.88, surpassing the expected $0.85, and revenue of $365.2 million, exceeding the $356.2 million forecast. These results showed a year-over-year revenue increase of 7.1%. The market's response highlighted the significance of this news, given the stock's historical volatility.
Despite the recent gains, Planet Fitness is down 51.8% year-to-date. At $52.92 per share, it is trading 52.7% below its 52-week high of $111.97, which was recorded in November 2025. An investment of $1,000 made five years prior would now be worth approximately $739.73.
