Piper Sandler analyst Peter Keith lowered the price target on Xponential Fitness Inc (NYSE: XPOF) to $13.00 (from $14.00) while maintaining a Neutral rating.

The analyst commented, "Today's Q2 miss and guidance revision proves that XPOF is not immune to broader macro challenges and is still facing hurdles from prior operational concerns. We do, however, believe XPOF is working diligently to move in the right direction with brand management, new leadership, and strengthening franchisee relationships, but these efforts have not yet fully materialized, and the progress is getting overshadowed by the macro. We believe today's after-hours stock reaction better reflects the current state of the business and updated outlook, following some strong upward movement the past few months. Thus, we'd remain on the sidelines, and our PT moves to $13 from $14."