Progyny (NASDAQ:PGNY) Updates Q4 Earnings Guidance

Progyny (NASDAQ:PGNY) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.07-0.10 for the period, compared to the consensus EPS 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.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PGNY shares. Canaccord Genuity Group lowered 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. Leerink Partnrs downgraded shares of Progyny from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Jefferies Financial Group reduced their target price on shares of Progyny from $31.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. 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. Finally, JPMorgan Chase & Co. reduced their price objective on Progyny from $31.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, September 19th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $25.42.

Progyny Trading Up 0.2 %

Shares of PGNY opened at $14.01 on Friday. Progyny has a 12-month low of $13.77 and a 12-month high of $42.08. The firm has a market capitalization of $1.19 billion, a P/E ratio of 24.10, a P/E/G ratio of 1.31 and a beta of 1.44. The firm has a 50-day moving average price of $17.49 and a 200 day moving average price of $23.49.

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