Progyny (NASDAQ:PGNY) Updates FY 2024 Earnings Guidance

Progyny (NASDAQ:PGNY) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 1.540-1.570 for the period, compared to the consensus EPS estimate of 0.710. The company issued revenue guidance of $1.1 billion-$1.2 billion, compared to the consensus revenue estimate of $1.2 billion. Progyny also updated its Q4 guidance to $0.07-0.10 EPS.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PGNY shares. Canaccord Genuity Group cut Progyny from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $37.00 to $24.00 in a research note on Wednesday, August 7th. Leerink Partnrs cut Progyny from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Canaccord Genuity Group dropped their target price on Progyny from $24.00 to $18.00 and set a “hold” rating for the company in a research report on Friday, September 20th. JMP Securities cut Progyny from an “outperform” rating to a “market perform” rating in a report on Thursday, September 19th. Finally, Truist Financial decreased their price objective on shares of Progyny from $33.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $27.73.

Progyny Stock Performance

PGNY stock traded up $0.12 during midday trading on Tuesday, reaching $17.18. 1,996,870 shares of the company were exchanged, compared to its average volume of 1,371,571. Progyny has a 1-year low of $13.93 and a 1-year high of $42.08. The stock’s 50-day simple moving average is $18.01 and its 200 day simple moving average is $23.73. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 27.27, a price-to-earnings-growth ratio of 1.57 and a beta of 1.44.

Progyny Company Profile

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists.