Shares of Smart Fit (SMFT3) advanced after Inter DTVM recommended a conditional purchase if the stock breaks above R$18.01, setting a target of R$21.98 and a stop loss at R$16.98. The risk-to-reward ratio stands at nearly 4-to-1, with a 5.71% potential loss against a 22.05% gain.
The brokerage’s report, released on August 26, follows a technical rebound from a recent low of R$16.45 to a Tuesday close of approximately R$17.45. Analyst Leandro Martins noted that overcoming the R$17.75–R$17.85 range could extend the advance toward R$18.45–R$18.50 and R$18.99, while a drop below R$16.45 would invalidate the recovery.
Fundamentally, Smart Fit reported Q2 2026 net revenue of R$2.18 billion, a 22% year-over-year increase, alongside EBITDA of R$712 million, up 24% and representing a 32.7% margin. The company’s network expanded by 19% over the past 12 months to 2,170 gyms, though recurring net income grew at a slower 8% pace to R$204 million.
Martins highlighted risks including elevated investment needs for expansion, rising financial expenses, and a net debt-to-EBITDA leverage ratio of 1.20x. The stock has yet to confirm a trend reversal despite the recent technical bounce.
