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Santa came early this year for growth stocks. The existing December rally accelerated on news that the Federal Reserve will likely begin cutting rates next year.
As we approach the end of 2023, the time for New Year's resolutions is upon us. With the Ozempic weight-loss trend in full swing, it's no surprise that many consumers will be making New Year's resolutions to join a gym and get in shape.
Planet Fitness' (PLNT) emphasis on expansion efforts and new growth model bodes well. However, elevated new store construction costs are a concern.
Analysts say early evidence suggests weight loss drugs will help, not hurt, the exercise sector as the trickle down effects of weight loss can “trigger” beneficial consumer behavior changes.
Planet Fitness' (PLNT) third-quarter 2023 results reflect robust growth in members and global store count.
Shares of Planet Fitness (PLNT) skyrocketed after the operator of fitness centers posted better-than-expected results and raised its guidance as it added members and stores.
Planet Fitness reported strong third-quarter (Q3) performance that it attributes to growing membership among Generation Z consumers. “We continue to see our strongest net member growth for Gen Zs who now make up a quarter of our membership base,” Planet Fitness Interim CEO Craig Benson told analysts on a Tuesday (Nov. 7) earnings call.
The shares of Planet Fitness Inc (NYSE:PLNT) are soaring today, up 13.3% at $62.52 at last glance, after the company issued an upbeat third-quarter report and raised its full-year forecast.
Planet Fitness is adding new members, and its profitability is surging. The company is adjusting requirements for its franchisees because of macroeconomic headwinds.
Planet Fitness now expects its revenue for the year to grow 14%, up from a previous estimate of 12%.