FMP
Planet Fitness Slashed to Hold After CEO Chris Rondeau’s Exit
Sep 18, 2023 4:02 PM - Davit Kirakosyan(Last modified: Dec 19, 2023 5:49 PM)
Image credit: FMP
Jefferies analysts downgraded Planet Fitness (NYSE:PLNT) from Buy to Hold and lowered the price target from $90 to $56 per share. The downgrade comes in the wake of a surprising leadership change at Planet Fitness, where CEO Chris Rondeau was ousted from his position. Following this announcement, the company's shares dropped by more than 15% on Friday.
The analysts expressed concerns about the impact of this leadership change, higher interest rates, and ongoing inflationary pressures on the company's near-term growth potential. While interim CEO Craig Benson has a history with Planet Fitness, serving on its board since 2017 and owning a franchise since 2012, the analysts believe that this leadership transition introduces uncertainty regarding the company's future growth prospects.
Other Blogs
Nov 22, 2024 5:08 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...
Dec 17, 2024 8:58 AM - Sanzhi Kobzhan
Examining Tesla’s Financial Health Using FinancialModelingPrep’s Ratios API
Tesla, one of the world’s most talked-about electric vehicle manufacturers, attracts a lot of attention from investors and market watchers. By examining a snapshot of Tesla’s financial ratios—such as those provided by FinancialModelingPrep’s Ratios API—we can get a clearer picture of the company’s f...
Dec 22, 2024 7:59 AM - Sanzhi Kobzhan
Two great Software Platform Stocks Similar to Palantir (PLTR)
When it comes to cutting-edge software and data analytics, Palantir Technologies (NYSE: PLTR) is often front and center. But for many investors, it’s important to consider alternative or complementary stocks in the same sector that may offer robust growth potential. As PLTR looks expensive (overvalu...
