For immediate release
Chicago, IL – October 11, 2024 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day, Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured on this blog include American Well Corp. (AMWL Quick QuoteAMWL – Free Report), Peloton Interactive Inc. (PTON Quick QuotePTON – Free Report), and Planet Fitness Inc. (PLNT Quick QuotePLNT – Free Report) .
Highlights from Friday’s analyst blog include:
Enhance your portfolio with these 3 health & fitness stocks
Health and fitness companies focus on improving and maintaining physical health through products and services such as gym memberships, fitness equipment, nutritional supplements, and wellness programs. This space features companies that provide products and services that help individuals maintain a healthy lifestyle.
Health and fitness companies are benefiting from consistent demand for increased global awareness of health issues and the importance of physical fitness. This trend is supported by the rising prevalence of lifestyle-related diseases and increasing interest in preventive healthcare.
Here are three stocks in the health and fitness space that have a lot of potential for price appreciation in the near term. These are American Well Corp., Peloton Interactive Inc., and Planet Fitness Inc.
Growing demand for health and fitness companies
Growth in this space is supported by diverse revenue streams such as subscriptions, product sales, and services, making it attractive to investors looking for long-term returns. Additionally, technological advances such as fitness trackers and wearable fitness devices provide new growth opportunities, further increasing consumer engagement and revenue potential.
However, the market is highly competitive, and an economic downturn could impact consumer spending on non-essential health and fitness products. Rapid changes in consumer preferences and health trends can make it difficult for businesses to consistently attract customers.
3 health and fitness stocks to buy
These stocks have strong growth potential for the remainder of 2024 and have seen positive earnings estimate revisions over the past 60 days. Each of our picks currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
american well company
American Well is an enterprise platform and software company that delivers digitally-enabled hybrid care in the United States and internationally. AMWL offers Converge, a cloud-based platform that enables healthcare providers, payers, and innovators to deliver in-person, virtual, and automated care, including virtual primary care, post-discharge follow-up, and chronic conditions. Provide management, virtual nursing and medical services. – Sit-down, on-demand and scheduled virtual visits, specialty consultations, automated care, and behavioral health.
AMWL offers the Carepoint device, which consists of a cart, peripherals, tablet, and television, and serves as a digital access point in the clinical setting. In addition, AMWL offers Amwell Medical Group network services consisting of primary and urgent care, behavioral health therapy, acute psychiatry, lactation counseling, and nutrition services.
Amazing price appreciation potential for AMWL stock
American Well’s sales and profit growth rates for the current fiscal year are expected to be 2% and 72.4%, respectively. The Zacks Consensus Estimate for current-year earnings has improved 4.5% over the past seven days.
Currently, the short-term average price target for the stock by securities companies is 99% higher than the previous closing price of $10.04. Brokerage target prices currently range from $9 to $66.
Peloton Interactive Inc.
Peloton Interactive operates an integrated fitness platform in North America and internationally. PTON offers connected fitness products under the names Peloton Bike, Peloton Bike+, Peloton Tread, Peloton Tread+, Peloton Guide, and Peloton Row. PTON markets and sells its products through e-commerce, inside sales, retail showrooms and third-party retailers.
Attractive price appreciation potential for PTON stock
Peloton Interactive’s revenue and earnings growth rates for the current fiscal year are expected to be 4.3% and 57%, respectively. The Zacks Consensus Estimate for current-year earnings has improved 24.4% over the past 60 days.
Currently, the short-term average price target for the stock by securities companies is 18.8% higher than the previous closing price of $4.72. Brokerage target prices currently range from $2.50 to $20.
Planet Fitness Co., Ltd.
Planet Fitness operates fitness centers under the Planet Fitness brand. PLNT operates through three segments: Franchise, Corporate-Owned Stores, and Facilities. PLNT is involved in franchise businesses in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.
Planet Fitness sells fitness equipment to franchisees in the United States, Canada, and Mexico. Additionally, PLNT operates company-owned stores in the United States and Canada.
Strong price appreciation potential for PLNT stock
Planet Fitness’s sales and earnings growth rates for the current fiscal year are expected to be 6% and 8.9%, respectively. The Zacks Consensus Estimate for current-year earnings has improved 0.4% over the past 60 days.
Currently, the short-term average price target for the stock by securities companies is 7.9% higher than the previous closing price of $80.45. Brokerage target prices are currently in the $70 to $100 range.
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Past performance does not guarantee future results. Any investment involves the possibility of loss. This material is provided for informational purposes only and does not constitute investment, legal, accounting, or tax advice or a recommendation to buy, sell, or hold any security. No recommendation or advice is given as to whether an investment is suitable for any particular investor. It should not be assumed that an investment in the securities, companies, sectors or markets identified and described has been or will be profitable. All information is current as of the date of this document and is subject to change without notice. The views and opinions expressed may not reflect those of the Company as a whole. Zacks Investment Research does not engage in investment banking, market making, or securities asset management activities. These returns are from a hypothetical portfolio of Zacks Rank = 1 stocks that is rebalanced monthly with zero trading costs. These are not actual stock portfolio returns. The S&P 500 is an unmanaged index. For performance numbers displayed in this press release, please visit https://www.zacks.com/performance.
