How did Planet Fitness Inc. (PLNT) surprise investors with its report?

At the time of writing, Planet Fitness Inc. [PLNT] stock is trading at $76.22, up 1.18%. An important factor to consider is whether the stock is rising or falling in short-term value. The PLNT shares have lost -1.93% over the last week, with a monthly amount drifted -8.22%, and not seem to be holding up well over a long-time horizon.

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On 16, March 2023, ABC Fitness Solutions Announces Technology Agreement Extension with Planet Fitness. In a post published today on Yahoo Finance, ABC’s next-generation club management solutions ABC IGNITE to power Planet Fitness through 2027.

From an analyst’s perspective:

Planet Fitness Inc. [NYSE: PLNT] stock has seen the most recent analyst activity on February 16, 2023, when DA Davidson downgraded its rating to a Neutral. Previously, Piper Sandler upgraded its rating to Overweight on October 25, 2022, and dropped its price target to $70. On September 26, 2022, upgrade upgraded it’s rating to Strong Buy but maintained its price target of $70 on the stock. Exane BNP Paribas upgraded its rating to a Neutral but stick to its price target of $75 on July 07, 2022. JP Morgan upgraded its rating to a Overweight but $90 remained the price target by the analyst firm on May 11, 2022. Evercore ISI started tracking with a Outperform rating for this stock on March 15, 2022, and assigned it a price target of $130. In a note dated January 12, 2022, Cowen reiterated an Outperform rating on this stock and boosted its target price from $100 to $110.

For the past year, the stock price of Planet Fitness Inc. fluctuated between $54.15 and $88.31. Currently, Wall Street analysts expect the stock to reach $94.75 within the next 12 months. Planet Fitness Inc. [NYSE: PLNT] shares were valued at $76.22 at the most recent close of the market. An investor can expect a potential return of 24.31% based on the average PLNT price forecast.

Analyzing the PLNT fundamentals

According to Planet Fitness Inc. [NYSE:PLNT], the company’s sales were 281.27 billion in the recent quarter, which represents an 53.20% jump. Gross Margin for this corporation currently stands at +37.36% with Operating Margin at +24.56%, Pretax Margin comes in at +17.23%, and Net Margin reading is +10.61%.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 74.55 points at the first support level, and at 72.88 for the second support level. However, for the 1st resistance point, the stock is sitting at 77.40, and for the 2nd resistance point, it is at 78.57.

Planet Fitness Inc. [PLNT] reported earnings per share of $0.42 for its fiscal quarter that ended on 9/29/2022. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.38/share, meaning a difference of $0.04 and a surprise factor of 10.50%. By comparison, the stated earnings for the previous quarter ended on 6/29/2022 were $0.38 per share as compared to estimates of $0.38 per share, a difference of $0 representing a surprise of 0.00%.

Ratios To Look Out For

It is important to note that Planet Fitness Inc. [NYSE:PLNT] has a current ratio of 2.30. On the other hand, the Quick Ratio is 2.25, and the Cash Ratio is 1.93. Considering the valuation of this stock, the price to sales ratio is 7.11 and the P/E (TTM) ratio is 64.76.

Transactions by insiders

The next item on our agenda is insider trading, which has seen 9 insider purchases totaling 9,480 shares and 0 insider sales totaling 0 shares over the past 3 months. Recent insider trading involved Bode William, Chief Operations Officer, that happened on Apr 11 when 44.0 shares were sold. Chief Operations Officer, Bode William completed a deal on Apr 05 to sell 116.0 shares.