Progyny (NASDAQ:PGNY) Releases Q4 Earnings Guidance

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

Several brokerages have recently weighed in on PGNY. Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 price target on shares of Progyny in a research note on Tuesday, October 1st. Canaccord Genuity Group downgraded shares of Progyny from a “buy” rating to a “hold” rating and decreased their target price for the company from $37.00 to $24.00 in a research report on Wednesday, August 7th. Canaccord Genuity Group dropped their price target on shares of Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a research report on Wednesday. Leerink Partnrs lowered shares of Progyny from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, Barclays lowered 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. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $25.42.

Progyny Stock Down 19.1 %

PGNY stock opened at $13.90 on Thursday. The firm has a market cap of $1.25 billion, a PE ratio of 23.97, a P/E/G ratio of 1.62 and a beta of 1.44. The business has a 50 day moving average of $17.69 and a 200-day moving average of $23.56. Progyny has a 12-month low of $13.77 and a 12-month high of $42.08.

Progyny (NASDAQ:PGNY) last announced its 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 net margin of 5.03% and a return on equity of 10.87%. The business had revenue of $286.63 million for the quarter, compared to analysts’ expectations of $296.85 million. During the same period in the prior year, the business earned $0.16 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, research analysts expect that Progyny will post 0.64 earnings per share for the current 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.