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Planet Fitness, Inc. reported a 19.4% year-over-year revenue increase, with earnings per share (EPS) of $0.70 for the latest quarter, surpassing estimates. Analysts project a current year EPS of $2.51, while the stock has a consensus rating of "Moderate Buy" and a target price of $100.17. Institutional investors hold 95.53% of the stock, reflecting strong interest in the company.
Analysts expect Planet Fitness, Inc. to report earnings per share of 2.51 for the current year. The company operates fitness centers globally and has a Moderate Buy rating, though top analysts favor five other stocks over it. Recently, Zurcher Kantonalbank increased its stake in Planet Fitness by 36.9%, while various institutional investors have also modified their holdings. The stock has a market cap of $8.09 billion and a P/E ratio of 51.38, with a consensus price target of $100.17.
David Einhorn of Greenlight Capital believes Peloton's stock could rise to $31.50 per share if the company successfully implements cost-cutting measures, potentially doubling its adjusted EBITDA. Despite challenges, Peloton's high-margin subscription model and loyal customer base position it for recovery, with projected EBITDA of $400-$500 million if management aligns costs with industry benchmarks. Einhorn emphasizes the need for new leadership to achieve these goals.
Cadian Capital Management, a tech-focused hedge fund, experienced a 10% loss in September, bringing its year-to-date decline to 15%. This marks a potential worst annual performance since 2021, despite the tech-heavy Nasdaq rising over 23% this year. Key positions like Braze and Elastic have significantly impacted results, with Braze dropping 28% after disappointing earnings.
Planet Fitness, Inc.
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