What Happened?
Shares of inclusive gym franchise company (NYSE: PLNT) jumped 8.7% in the afternoon session after UBS reiterated a Buy rating on the company with an $80 price target and cited evidence of strengthening member demand. According to TipRanks, UBS pointed to stronger membership growth in September, early momentum in October, and effective pricing promotions as signs that demand is improving. The firm also said emerging artificial-intelligence risks look manageable. A write-up of the note said UBS did not give enrollment figures, and that the $80 target implied about 68% upside from the price at the time. Planet Fitness had about 21.5 million members at the end of June, and on August 31 it started a fall promotion at $1 down and $10 a month through September 10.
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What Is The Market Telling Us
Planet Fitness’s shares are somewhat volatile and have had 11 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was 11 months ago when the stock gained 10.3% on the news that the company reported strong third-quarter 2025 results that beat Wall Street's expectations. The fitness chain's revenue rose 13% from the previous year to $330.3 million, surpassing analyst forecasts. Adjusted earnings came in at $0.80 per share, also topping estimates. A key driver for the quarter was a 6.9% increase in same-store sales, which measures sales at clubs open for at least a year. The market reacted positively to the company's outperformance on key financial metrics.
Planet Fitness is down 56.2% since the beginning of the year, and at $48.06 per share, it is trading 57.1% below its 52-week high of $111.97 from November 2025. Investors who bought $1,000 worth of Planet Fitness’s shares 5 years ago would now be looking at only $603.74.
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