Despite Thursday’s general market decline, Xponential Fitness (NYSE: XPOF) closed the session 1% higher after it announced it has teamed up with its first official prepared meals partner, Territory Foods.
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The strategic partnership spans four of the fitness franchisor’s brands, including Pure Barre, Row House, StretchLab, and Rumble Boxing.
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The partnership will see Territory Foods curate customised menus of its prepared meals to complement each Xponential brand’s fitness program, with its members able to sign up to receive meals via a promo link in their brand’s app or on the brand website when they log in.
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“Territory Foods can enhance the member experience, ensuring that our members’ exercise and movement goals are supported by healthy eating. This exciting partnership allows us to further expand the value and benefit our members receive from their studio membership, while supporting their overall health & well-being,” said Sarah Luna, President of Xponential Fitness.
Premarket Friday, Xponential Fitness shares are flat. However, in the last 12 months, the stock has outperformed, climbing more than 84%.
Last week, B. Riley analyst Jeff Van Sinderen raised the firm’s price target on Xponential Fitness to $32 from $30, keeping a Buy rating on the stock. The analyst adjusted his price target after XPOF announced preliminary Q4 metrics.
XPOF said it expects to meet or exceed the high end of its FY22 outlook. Revenue is seen in the range of $235 million to $240 million, or an increase of 53%.
Van Sinderen said in his research note he sees the company is executing well and expects continued increasingly profitable growth with expanding margins into fiscal 2023 and beyond.
Baird analyst Jonathan Komp also raised the firm’s price target on Xponential Fitness following the preliminary metrics.
The analyst raised his firm’s price target on the stock to $32 from $30, keeping an Outperform rating on the shares. Komp said management discussions emphasized continued robust business momentum.
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