Planet Fitness plunges as management trims 2026 outlook and pauses planned Black Card price increase

Planet Fitness (PLNT) is down 33.4% today. Here is some analysis on what might have caused this price movement.

Analysis: The selloff appears tied to a sharp reset in full-year 2026 expectations despite a solid Q1. Management pointed to slower-than-planned net member growth during the peak sign-up period and said it is pausing a planned national Black Card price increase, which pressured the company’s growth outlook.

Details:

Planet Fitness reported Q1 2026 revenue of $337.2 million (up 21.9% year over year) and system-wide same club sales growth of 3.5%.

For 2026, the company cut its growth outlook to approximately 1% system-wide same club sales growth (from 4%–5%) and approximately 7% revenue growth (from about 9%).

The company also lowered profitability expectations, guiding to approximately 6% adjusted EBITDA growth (from about 10%) and an adjusted net income decline of about 2% (versus prior expectations for growth).

Management said 2026 started slower than expected for net member growth and noted a decision to pause the planned national Black Card price increase pending a broader pricing review.

Sources:

PR Newswire, SEC, Investing.com

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

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$PLNT Hedge Fund Activity

We have seen 190 institutional investors add shares of $PLNT stock to their portfolio, and 237 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

T. ROWE PRICE INVESTMENT MANAGEMENT, INC. removed 4,186,878 shares (-46.1%) from their portfolio in Q4 2025, for an estimated $454,150,656
FMR LLC removed 1,204,645 shares (-98.4%) from their portfolio in Q4 2025, for an estimated $130,667,843
SAMLYN CAPITAL, LLC removed 1,162,074 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $126,050,166
D. E. SHAW & CO., INC. added 1,094,776 shares (+43084.5%) to their portfolio in Q4 2025, for an estimated $118,750,352
UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 826,641 shares (-73.2%) from their portfolio in Q4 2025, for an estimated $89,665,749
BNP PARIBAS ASSET MANAGEMENT HOLDING S.A. added 819,943 shares (+655.1%) to their portfolio in Q4 2025, for an estimated $88,939,217
INVESCO LTD. removed 708,892 shares (-28.1%) from their portfolio in Q4 2025, for an estimated $76,893,515

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API.

$PLNT Analyst Ratings

Wall Street analysts have issued reports on $PLNT in the last several months. We have seen 5 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

TD Cowen issued a "Buy" rating on 04/29/2026
Canaccord Genuity issued a "Buy" rating on 01/21/2026
Guggenheim issued a "Buy" rating on 12/10/2025
RBC Capital issued a "Outperform" rating on 11/14/2025
Stifel issued a "Buy" rating on 11/14/2025

To track analyst ratings and price targets for $PLNT, check out Quiver Quantitative's $PLNT forecast page.

$PLNT Price Targets

Multiple analysts have issued price targets for $PLNT recently. We have seen 11 analysts offer price targets for $PLNT in the last 6 months, with a median target of $100.0.

Here are some recent targets:

Jonathan Komp from Baird set a target price of $100.0 on 05/05/2026
Anthony Bonadio from Wells Fargo set a target price of $80.0 on 05/05/2026
Logan Reich from RBC Capital set a target price of $85.0 on 04/29/2026
Max Rakhlenko from TD Cowen set a target price of $90.0 on 04/29/2026
Chris O'Cull from Stifel set a target price of $90.0 on 04/24/2026
Brian McNamara from Canaccord Genuity set a target price of $122.0 on 04/10/2026
Noah Zatzkin from Keybanc set a target price of $100.0 on 03/12/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.