Stifel Upgrades Planet Fitness (PLNT) Stock to Buy, Raises PT

On May 22, Stifel analysts upped Planet Fitness, Inc. (NYSE:PLNT)’s stock from “Hold” to “Buy,” increasing the price objective to $120 from the prior target of $82.

The upgrade comes after an evaluation of its recent performance and expected growth catalysts. The analysts have noted stabilized gross joins and numerous factors that can fuel comparable sales to mid-to-high-single-digit growth in the upcoming years. Planet Fitness, Inc. (NYSE:PLNT) continues to focus on improving marketing strategies, which analysts opine can be optimized to see better results.

A smiling person in sports gear testing out a piece of new fitness equipment.

Additionally, the firm expects that Planet Fitness, Inc. (NYSE:PLNT) will increase its Black Card pricing. This can result in a 3% – 4%-point benefit to its comparable sales (comps). Its efforts focused on enhancing the Black Card Spa experience have been regarded as a favourable move.

Stifel upped its comp and unit growth estimates for Planet Fitness, Inc. (NYSE:PLNT) as it anticipates sustained member growth and a multi-year pricing tailwind to fuel performance. Because of the strength and durability of its model, the company delivered healthy growth in Q1 2025 despite higher volatility in the macroeconomic environment. Its total revenue went up by 11.5% YoY to $276.7 million.

Planet Fitness, Inc. (NYSE:PLNT) is engaged in franchising and operating fitness centers under the Planet Fitness brand.

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Disclosure: None.