While Planet Fitness Inc has underperformed by -1.98%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PLNT fell by -23.87%, with highs and lows ranging from $84.48 to $44.13, whereas the simple moving average fell by -4.51% in the last 200 days.
On October 16, 2023, Exane BNP Paribas Upgraded Planet Fitness Inc (NYSE: PLNT) to Neutral. A report published by Morgan Stanley on September 27, 2023, Initiated its previous ‘Overweight’ rating for PLNT. JP Morgan also Downgraded PLNT shares as ‘Neutral’, setting a target price of $52 on the company’s shares in a report dated September 19, 2023. Jefferies September 18, 2023d the rating to Hold on September 18, 2023, and set its price target from $90 to $56. TD Cowen September 15, 2023d its ‘Outperform’ rating to ‘Market Perform’ for PLNT, as published in its report on September 15, 2023. Exane BNP Paribas’s report from June 23, 2023 suggests a price prediction of $57 for PLNT shares, giving the stock a ‘Underperform’ rating. RBC Capital Mkts also rated the stock as ‘Outperform’.
Analysis of Planet Fitness Inc (PLNT)
Further, the quarter-over-quarter increase in sales is 1.36%, showing a positive trend in the upcoming months.
One of the most important indicators of Planet Fitness Inc’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. Taking into account the quick ratio of the company, currently set at 1.86, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and PLNT is recording 1.73M average volume. On a monthly basis, the volatility of the stock is set at 3.15%, whereas on a weekly basis, it is put at 2.83%, with a gain of 2.10% over the past seven days. Furthermore, long-term investors anticipate a median target price of $74.90, showing growth from the present price of $59.88, which can serve as yet another indication of whether PLNT is worth investing in or should be passed over.
How Do You Analyze Planet Fitness Inc Shares?
The Leisure market is dominated by Planet Fitness Inc (PLNT) based in the USA. When comparing Planet Fitness Inc shares with other companies under Consumer Cyclical, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 36.89, there is a growth in quarterly earnings of 2.02%.
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.36%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 109.47% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
PLNT shares are owned by institutional investors to the tune of 109.47% at present.
