FMP

FMP

Enter

Piper Sandler Increases Planet Fitness Price Target to $89, Citing Long-Term Confidence

- (Last modified: Jul 12, 2024 1:45 AM)

twitterlinkedinfacebook
blog post cover photo

Image credit: FMP

Planet Fitness (NYSE:PLNT) shares rose around 3% intra-day on Thursday after Piper Sandler analysts increased their price target to $89 from $80, while maintaining their Overweight rating.

The analysts noted that Planet Fitness shares have rebounded recently due to several positive developments, including the appointment of a new CEO and adjustments in White Card pricing. Investors appear more confident in the company's long-term prospects, although it may take a few more quarters for the new pricing strategy and the appointment of a new CFO to have a more sustained impact on the share price.

The analysts mentioned that while intermediate and longer-term confidence in Planet Fitness is improving, there are no heightened short-term expectations from investors. The analysts do not anticipate a significant beat in Q2 earnings or a guidance raise but feel that management's guidance has prudently accounted for near-term conservatism. Management has acknowledged that cancellation trends remain elevated, real estate availability will take time to resolve, and pricing benefits will be gradual.

Overall, the analysts maintained a positive 12-month outlook for Planet Fitness, suggesting that Q2 results are unlikely to be a major stock-moving event.

Other Blogs

Sep 10, 2024 11:33 AM - Parth Sanghvi

Best Alternatives to Yahoo Finance for Downloading Historical Stock Data

When it comes to downloading historical stock data, Yahoo Finance has been a popular choice for many. However, for those looking for more comprehensive, accurate, and flexible options, Financial Modeling Prep (FMP) offers a suite of powerful tools and services that stand out as superior alternatives...

blog post title

Nov 8, 2024 10:30 AM - Sanzhi Kobzhan

Understanding Equity Valuation: When to Use DCF, DDM, and Price-Income (Multiplicators) Models

When it comes to investing in stocks, one of the key decisions an investor must make involves determining the intrinsic value of a company's shares. Equity valuation isn't just about numbers, it's an art mixed with science, aiming to predict future performance based on current and historical data. H...

blog post title

Nov 22, 2024 10:08 AM - Parth Sanghvi

Fundamental Analysis: Principles, Types, and How to Use It

Fundamental analysis is one of the most essential tools for investors and analysts alike, helping them assess the intrinsic value of a stock, company, or even an entire market. It focuses on the financial health and economic position of a company, often using key data such as earnings, expenses, ass...

blog post title
FMP

FMP

Financial Modeling Prep API provides real time stock price, company financial statements, major index prices, stock historical data, forex real time rate and cryptocurrencies. Financial Modeling Prep stock price API is in real time, the company reports can be found in quarter or annual format, and goes back 30 years in history.
twitterlinkedin
2017-2025 © Financial Modeling Prep