Can Planet Fitness Stock Keep Going After Last Week's 12% Pop?
It's not just the members working up a sweat that are pumped up for Planet Fitness (NYSE: PLNT) these days.
Shares of the discount gym operator surged 12.3% after the company posted another period of blowout financial results last week. It went on to boost its full-year revenue, comps, and adjusted earnings guidance. Planet Fitness stock hit all-time highs last week on the news, and set new high-water marks earlier this week
The quarter was undeniably strong. Revenue rose 12% to $97.5 million, a combination of brisk expansion -- 31 new fitness centers opened during the quarter and 190 net new locations have sprouted over the past year -- and a hearty 9.5% spike in systemwide same-store sales. If you didn't view classic gyms as viable turf for growth investing, you probably haven't taken the Planet Fitness model for a spin.
Source: Fool.com
