Based on recent feedback from interactions with franchisees and investors covering the key January signup period, which is a “seasonally important time for gyms,” Baird analyst Jonathan Komp believes member trends at Planet Fitness (PLNT) have been “solid overall,” with January likely tracking to plan and feedback regarding Planet’s new marketing efforts “also positive.” However, the firm has seen indications of a softer finish to the month following a stronger start, which possibly could be a reason Planet ran a two-day “flash” sale to start February, adds the analyst, who keeps an Outperform rating and $120 price target on Planet shares.
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