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.

Wall Street Analysts Forecast Growth

PGNY has been the subject of several recent research reports. Leerink Partners dropped their price objective on shares of Progyny from $25.00 to $21.00 and set a “market perform” rating for the company in a research report on Thursday, September 19th. 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. Canaccord Genuity Group lowered their target price on Progyny from $24.00 to $18.00 and set a “hold” rating for the company in a research note on Friday, September 20th. JMP Securities lowered Progyny from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 19th. Finally, BTIG Research downgraded shares of Progyny from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $27.73.

Progyny Trading Up 0.7 %

PGNY stock opened at $17.18 on Wednesday. The firm has a 50 day simple moving average of $17.88 and a 200-day simple moving average of $23.62. The company has a market capitalization of $1.55 billion, a P/E ratio of 27.27, a PEG ratio of 1.61 and a beta of 1.44. Progyny has a twelve month low of $13.93 and a twelve month high of $42.08.

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.