• Best stocks to buy now
  • Contact
  • Disclaimer
Wednesday, September 20, 2023
No Result
View All Result
Best Stocks
  • News
  • Best stocks to buy now
  • Categories
    • Crypto
    • Dow Jones today
    • Pre-IPO and startups
    • Tech stocks
    • Utility stocks
  • Best Stocks toolsHOT
    • Stock News Sentiment
    • Stock Fundamentals Checker
    • Price Targets
    • Social Sentiments Checker
    • Indices
  • About us
    • About
    • Contact
Best Stocks
No Result
View All Result
Home News

Planet Fitness: Leading the Fitness Revolution with Affordable and Accessible Gyms

Elaine Mendonça by Elaine Mendonça
April 5, 2023
in News
Reading Time: 3 mins read
A A
0
BOWL stock news
0
SHARES
38
VIEWS
Share on FacebookShare on Twitter

As the world progresses towards a more fitness-conscious lifestyle, gyms and fitness centers have gained significant prominence in recent years. Planet Fitness (NYSE:PLNT) has emerged as a prominent force in this market, offering affordable and convenient gym services to the masses. The company’s strategic focus on creating a non-intimidating workout environment has proved immensely successful, commanding a loyal customer base of over 13 million.

According to Bloomberg.com, experts predict that Planet Fitness is poised for continued success with a consensus rating of “Moderate Buy” from 14 brokerages covering the company. The stock currently enjoys four hold ratings, eight buy recommendations and one strong buy endorsement. These ratings are not unfounded; in fact, they come as no surprise considering the company’s most recent quarterly earnings report.

On February 23rd of this year, Planet Fitness announced its quarterly earnings results that exceeded analysts’ expectations. The company reported an earning per share (EPS) of $0.53 – $0.06 higher than what was predicted by experts – cementing its ability to consistently outperform expectations. Additionally, the gym chain reported cumulative revenue of $281.30 million during Q1 2023, beating estimated revenue of $271.48 million.

Despite being relatively young compared to other industry players like Gold’s Gym or Equinox, Planet Fitness continues to achieve exponential growth year-over-year with its dedicated customer-centric approach that prioritizes affordability and accessibility over premium pricing models found elsewhere in the industry.

So where does Planet Fitness go from here?
Based on the average 12-month target price among brokerages covering the stock for last year – which stands at an impressive $90.67 – it is evident that there is plenty of growth potential yet to be tapped into for current investors and those contemplating jumping aboard.

In conclusion, it is safe to say that rival gym chains should watch out- as Planet Fitness carves out a niche within the industry that sets it apart as a leader in accessible and affordable fitness. With strong profitability and lucrative growth potential, Planet Fitness continues to be a force to be reckoned with, making it an excellent stock option for investors.

Planet Fitness Emerges as Analysts’ Favorite with Potential for Colossal Returns



In the ever-dynamic stock market, few companies can achieve the grade to graduate into “analysts’ favorites.” Planet Fitness is one of these lucky ventures. A plethora of research analysts has weighed in on PLNT shares since its inception, each with varying opinions and forecasts.

Recently, StockNews.com initiated coverage on shares of Planet Fitness releasing a research note on Thursday, March 16th. The note issued a “hold” rating on the stock. However, other analytics have demonstrated more confidence in the company’s potential growth.

For instance, Morgan Stanley lifted their price target on Planet Fitness from $92.00 to $93.00 and gave the company an “overweight” rating in a research note released on Monday, February 27th. Meanwhile, Cowen boosted their price objective from $90.00 to $92.00 and gave the stock an “outperform” rating in a report published on Monday, February 27th.

Robert W. Baird also displayed faith in planet fitness by raising their target price from $100.00 to $105.00 and given the company an “outperform” rating in a report released on Friday, February 24th.Piper Sandler is also among those who are bullish about Planet fitness by lifting their goal price from $79.00 to $93.00 and give the firm an “overweight” rating in a research report published on Thursday, December 22nd.

Shares of PLNT commenced trading at $$76.39 on Wednesday with a 50-day moving average of $79.28 and a two-hundred-day moving average of $73.84 reflecting upward momentum for both short-term and long-term investors.The organization boasts a market cap worths $6.83 billion alongside alluring ratios such as price-to-earnings ratio of 65:29 and a price-to-earnings-growth ratio of 1:44.

Planet Fitness’s beta value of 1.30, coupled with a 52-week high of $88.31 and a 52-week low of $54.15, signifies the company’s aggressive business model dedicated to exceeding the market forecast in subsequent quarters.

In conclusion, irrespective of your investment tendency, Planet Fitness proves to be a game-changer in the stock world. Since most research analysts are optimistic about its prospects, it presents as an organization capable of delivering colossal returns for growth and income-oriented investors.

Tags: PLNT
Elaine Mendonça

Elaine Mendonça

Over the last nine years, Elaine has managed investment portfolio using fundamental analysis and value investing, emphasizing long-term time horizons.

Discussion about this post

DISCLAIMER

Nothing on this website should be considered personalized financial advice. Any investments recommended here in should be made only after consulting with your personal investment advisor and only after performing your own research and due diligence, including reviewing the prospectus or financial statements of the issuer of any security.

The Best Stocks, its managers, its employees, affiliates and assigns (collectively “The Company”) do not make any guarantee or warranty about the advice provided on this website or what is otherwise advertised above.

READ MORE

Categories

Best Stocks to buy now
Crypto
Dow Jones Today
Pre-IPO and Startups
Tech stocks
Utility Stocks

Data and Tools
Stock Forecast
Dow Jones Today

Follow us on Social Media
Facebook – YouTube – Twitter

Write for us
Finance – Business

Best Stocks to Buy Now

We are a financial media dedicated to providing stock recommendations, news, and real-time stock prices.

  • Disclaimer
  • Privacy Policy
  • Best stocks to buy now
  • Contact
  • Write for us – Finance, Crypto

© 2023 Best Stocks

No Result
View All Result
  • Home
  • News
  • Best stocks to buy now
  • Categories
    • Crypto
    • Dow Jones Today
    • Pre-IPO and Startups
    • Tech stocks
    • Utility Stocks
  • Best Stocks Tools
    • Stock News Sentiment
    • Stock Fundamentals Checker
    • Price Targets
    • Social Sentiments Checker
    • Indices
  • About us
    • About
    • Contact

© 2023 Best Stocks