BofA's blunt call on Planet Fitness stock price after earnings
Key takeaways
- Bank of America downgraded Planet Fitness to neutral from buy and lowered its price objective to $59 from $110, according to the Bank of America note given to TheStreet.
- The firm said Planet Fitness lowered its 2026 outlook after weaker-than-expected first-quarter sign-ups, changes to its marketing strategy, and the decision to skip a planned Black Card price increase.
- “With new marketing initiatives likely needing time to gain traction, we see limited catalysts ahead and downgrade shares to Neutral from Buy,” Bank of America said in the note.
Bof A's blunt call on Planet Fitness stock price after earnings Tyler Bundy Sun, May 10, 2026 at 6:00 AM GMT+7 4 min read BAC PLNT Planet Fitness investors received a tougher view from Bank of America after the gym operator’s latest earnings update reset expectations for membership growth, pricing, and the company’s near-term stock setup.
Bank of America downgraded Planet Fitness to neutral from buy and lowered its price objective to $59 from $110, according to the Bank of America note given to TheStreet. The new target still represented 34.1% upside from the $44.01 share price listed in the note, although the size of the cut showed a much more cautious outlook after earnings.
The firm said Planet Fitness lowered its 2026 outlook after weaker-than-expected first-quarter sign-ups, changes to its marketing strategy, and the decision to skip a planned Black Card price increase. Bank of America also lowered its earnings estimates, with its 2026 EPS forecast moving to $3.22 from $3.39 and its 2027 EPS forecast moving to $3.70 from $4.10.