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Xponential Fitness (NYSE:XPOF) Surges 26% after Announcing New CEO – TipRanks.com

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Xponential Fitness (NYSE:XPOF) Surges 26% after Announcing New CEO – TipRanks.com

Shares of Xponential Fitness (NYSE:XPOF) saw a significant 26% surge at the time of writing after the fitness company announced that Mark King has been appointed as the new CEO and will join the board of directors. Brenda Morris will step down as Interim CEO but will remain on the board. King is known for his successful tenure at Taco Bell, where he grew same-store sales and expanded its franchise locations as its CEO.

As a result, analysts at Roth MKM, via George Kelly, upgraded Xponential Fitness to a Buy rating due to the company’s strong fundamentals during the transition and their confidence in King’s leadership. The investment firm also highlighted that King’s compensation aligns well with shareholder interests, as his stock options and bonuses are tied to share price targets.

In addition, Roth MKM set a $22 price target on XPOF, which was driven by positive Google Search trends and solid EBITDA estimates for FY25.

What Is the Price Target for XPOF?

Overall, Wall Street analysts have a Moderate Buy consensus rating on XPOF stock based on two Buys, four Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. After a 46% decline in its share price over the past year, the average XPOF price target of $15 per share implies 5.04% upside potential.

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