Progyny (NASDAQ:PGNY) Issues Q4 Earnings Guidance

Progyny (NASDAQ:PGNY) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.07-0.10 for the period, compared to the consensus estimate of $0.14. The company issued revenue guidance of $266.2-281.2 million, compared to the consensus revenue estimate of $292.69 million. Progyny also updated its FY 2024 guidance to 1.540-1.570 EPS.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Canaccord Genuity Group decreased their target price on shares of Progyny from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Wednesday. Jefferies Financial Group lowered their price objective on shares of Progyny from $31.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. Barclays cut their target price on shares of Progyny from $30.00 to $17.00 and set an “overweight” rating for the company in a research note on Thursday. JPMorgan Chase & Co. lowered their price target on Progyny from $31.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, September 19th. Finally, Canaccord Genuity Group cut Progyny from a “buy” rating to a “hold” rating and cut their price objective for the company from $37.00 to $24.00 in a research report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Progyny presently has an average rating of “Hold” and an average price target of $25.42.

Progyny Trading Down 19.1 %

Shares of Progyny stock opened at $13.90 on Thursday. The company has a market cap of $1.25 billion, a PE ratio of 23.97, a price-to-earnings-growth ratio of 1.62 and a beta of 1.44. The company has a 50 day moving average of $17.69 and a 200-day moving average of $23.56. Progyny has a 1-year low of $13.77 and a 1-year high of $42.08.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.26). The business had revenue of $286.63 million for the quarter, compared to the consensus estimate of $296.85 million. Progyny had a return on equity of 10.87% and a net margin of 5.03%. Progyny’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.16 earnings per share. Research analysts forecast that Progyny will post 0.64 earnings per share for the current year.

About Progyny

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.