Progyny (NASDAQ:PGNY) Updates FY 2024 Earnings Guidance

Progyny (NASDAQ:PGNY) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 1.540-1.570 for the period, compared to the consensus 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.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PGNY. Canaccord Genuity Group lowered Progyny from a “buy” rating to a “hold” rating and lowered their price target for the company from $37.00 to $24.00 in a report on Wednesday, August 7th. BTIG Research cut Progyny from a “buy” rating to a “neutral” rating in a report on Wednesday, August 7th. Leerink Partners cut their price target on Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday, September 19th. JMP Securities lowered shares of Progyny from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 19th. Finally, Canaccord Genuity Group dropped their target price on shares of Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a report on Wednesday. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Progyny has a consensus rating of “Hold” and a consensus target price of $25.42.

Progyny Stock Up 0.2 %

Shares of Progyny stock opened at $14.01 on Friday. The company has a market cap of $1.19 billion, a P/E ratio of 24.10, a PEG ratio of 1.31 and a beta of 1.44. The firm’s 50 day moving average price is $17.49 and its 200-day moving average price is $23.49. Progyny has a 52-week low of $13.77 and a 52-week high of $42.08.

Progyny (NASDAQ:PGNY) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.26). Progyny had a return on equity of 11.36% and a net margin of 5.03%. The firm had revenue of $286.63 million during the quarter, compared to analysts’ expectations of $296.85 million. During the same period in the prior year, the firm posted $0.16 earnings per share. Progyny’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, equities research analysts forecast that Progyny will post 0.64 EPS for the current fiscal year.

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.