Planet Fitness, Inc. (PLNT): A Bull Case Theory

We came across a bullish thesis on Planet Fitness, Inc. on TickerTrends Research’s Substack by TickerTrends. In this article, we will summarize the bulls’ thesis on PLNT. Planet Fitness, Inc.'s share was trading at $106.12 as of August 6^th. PLNT’s trailing and forward P/E were 50.29 and 36.50, respectively, according to Yahoo Finance.

Planet Fitness (PLNT) appears to be entering Q3 2025 with renewed momentum following a solid Q1 membership gain of ~900,000 and seasonally normal Q2 trends. Multiple alternative data sources suggest accelerating consumer engagement heading into the core summer gym season. Mobile app usage is up year-over-year on both Android (+4.8%) and iOS (+5.9%), reversing softness from earlier in the year. Google Search interest and TikTok viewership related to Planet Fitness also surged in June and July, up over 9% and 44% YoY, respectively, while web traffic climbed 9.9% YoY after a prolonged decline.

This uptick aligns with several tailwinds: the company’s recent revamp of its higher-margin Black Card membership—featuring new perks and a family add-on—may be improving member retention and encouraging upgrades. Broader online fitness trends are also supportive, with gym and workout-related content seeing viral traction, historically a precursor to membership gains. Gen Z, the fastest-growing member demographic, is showing strong engagement through initiatives like the High School Summer Pass and is further amplifying brand visibility through word-of-mouth and content sharing on TikTok.

These trends have both volume and pricing implications, especially since new Classic Card sign-ups are priced at $15/month, up from $10. Management has guided for 10% revenue growth in FY25, but current engagement signals suggest potential for upward revisions to the 11–12% range. With higher-ARPU member additions and strong digital momentum, Planet Fitness could positively surprise on its upcoming August 6 earnings report, offering upside to both guidance and sentiment.

Previously, we covered a bullish thesis on Planet Fitness, Inc. by The Elevator Pitch in May 2025, which highlighted its HVLP model, franchise economics, and long-term growth drivers. The stock has appreciated ~1.3% since. The thesis remains intact. TickerTrends shares a similar view but emphasizes near-term upside from accelerating digital engagement and Gen Z-driven momentum into Q3 2025.

Planet Fitness, Inc. is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 45 hedge fund portfolios held PLNT at the end of the first quarter which was 41 in the previous quarter. While we acknowledge the potential of PLNT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.