Planet Fitness, Inc. (NYSE:PLNT) shares traded higher Friday as investors weighed strong quarterly execution against a reduced full-year outlook.
The fitness chain also faced fresh analyst pressure after a Wall Street analyst downgraded the stock, citing slowing membership momentum and limited near-term catalysts.
On Thursday, the company reported first-quarter financial results and cut its fiscal-year 2026 guidance below estimates.
Q1 Highlights
Planet Fitness reported adjusted earnings per share of 74 cents, beating the consensus estimate of 63 cents. In addition, it reported revenue of $337.23 million, beating the consensus estimate of $299.32 million and representing a 21.9% year-over-year increase.
Planet Fitness said system-wide same club sales increased 3.5% in the quarter, while system-wide sales rose $88 million year-over-year to $1.4 billion.
Bank of America Securities analyst Andrew G. Didora downgraded the stock from Buy to Neutral, lowering the price forecast from $110 to $59.
Analyst’s Take
The analyst turned cautious on Planet Fitness after the company cut its 2026 outlook, citing weaker-than-expected member sign-ups, marketing execution issues, and the decision to delay a planned Black Card price increase.
The analyst said first-quarter membership growth missed internal expectations, with Planet Fitness adding 700,000 net new members during what is typically the company’s strongest sign-up period of the year. Management attributed the shortfall to marketing missteps that targeted more fitness-focused consumers instead of beginners.
Bank of America also noted that Planet Fitness lowered its 2026 guidance across key metrics, including same-club sales growth, revenue, EBITDA and earnings per share.
Didora said new marketing initiatives and a fresh advertising campaign may take time to gain traction, limiting near-term catalysts for the stock. The analyst also lowered 2026 EPS estimates to $3.22 from $3.39 and reduced the 2027 forecast to $3.70 from $4.10.
Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price forecastof $92.00 (23 analysts). Recent analyst moves include:
- Guggenheim: Buy (Lowers forecast to $95.00) (May 8)
- Wells Fargo: Overweight (Lowers forecast to $65.00) (May 8)
- Keybanc: Overweight (Lowers forecast to $65.00) (May 8)
PLNT Price Action: Planet Fitness shares were up 4.12% at $45.82 at the time of publication on Friday, according to Benzinga Pro data.
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