Planet Fitness (NYSE: PLNT) Price Target Raised Following Strong Q3 Earnings

Font: Financial Modeling Prep  • Nov 05, 2026

• Raymond James analyst Joseph Altobello raised the price target for Planet Fitness (NYSE: PLNT) stock to $72.00, suggesting a 19.9% upside from its previous price of $60.07.
• Planet Fitness reported strong third-quarter 2026 results, with adjusted earnings reaching $0.83 per share, surpassing the $0.79 estimate, and revenue rising to $359.98 million, beating estimates by 5.24%.
• Despite overall revenue growth of 9% year-over-year to $360.00 million and increased system-wide sales, net income attributable to Planet Fitness declined to $52.00 million from $58.80 million a year earlier. The company also announced a new $500.00 million share-repurchase authorization.

Planet Fitness operates a popular gym chain with company-owned and franchised clubs. Raymond James analyst Joseph Altobello recently raised his price target for the stock to $72.00. Against its $60.07 price when the target was published, that suggests about 19.9% upside. A price target is an analyst’s estimate, not a guaranteed future price.

Planet Fitness’s third-quarter 2026 results give investors context for the higher target. Adjusted earnings reached $0.83 per share, above the $0.79 estimate and up from $0.80 a year earlier. Revenue rises to $359.98 million from $330.35 million, beating estimates by 5.24%, as highlighted by Zacks.

The company reports revenue of about $360.00 million, up 9% year over year, as highlighted by PR Newswire. Sales at clubs open long enough to allow a year-over-year comparison rise 1.5%. System-wide sales, which include franchise locations, increase by $53.40 million to $1.30 billion.

Not every measure improves. Net income attributable to Planet Fitness falls to $52.00 million from $58.80 million a year earlier, while diluted earnings per share stay at $0.70. The company also repurchases $50.00 million of Class A shares and announces a new $500.00 million share-repurchase authorization, which allows further buybacks but does not require them.