Can Planet Fitness Be an $80 Stock Again?

Prior to the coronavirus pandemic, Planet Fitness (NYSE: PLNT) was riding the wave of healthy lifestyles higher and its stock hit almost $89 a share. Planet Fitness has clawed its way back up and it currently trades around $74 a share, with Jefferies (NYSE: JEF) analyst Randal Konik believing it can hit $80 a share. According to an SEC filing, Planet Fitness said that at gyms that have reopened, average membership levels have remained relatively consistent, though the numbers of both new members and cancellations have increased compared to the same time period last year.