Progyny (NASDAQ:PGNY) Updates FY 2024 Earnings Guidance

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

Progyny Stock Performance

Shares of NASDAQ PGNY opened at $13.90 on Thursday. The firm has a fifty day moving average of $17.69 and a 200 day moving average of $23.56. The firm has a market cap of $1.25 billion, a PE ratio of 23.97, a PEG ratio of 1.62 and a beta of 1.44. Progyny has a one year low of $13.77 and a one year high of $42.08.

Progyny (NASDAQ:PGNY) last issued its earnings results 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). Progyny had a return on equity of 10.87% and a net margin of 5.03%. The company had revenue of $286.63 million for the quarter, compared to analyst estimates of $296.85 million. During the same quarter in the prior year, the firm earned $0.16 earnings per share. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities analysts predict that Progyny will post 0.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PGNY. Canaccord Genuity Group lowered Progyny from a “buy” rating to a “hold” rating and cut their target price for the company from $37.00 to $24.00 in a research report on Wednesday, August 7th. Jefferies Financial Group lowered their price target on shares of Progyny from $31.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, September 19th. BTIG Research downgraded Progyny from a “buy” rating to a “neutral” rating in a report on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $25.00 price target on shares of Progyny in a research note on Tuesday, October 1st. Finally, Bank of America reduced their target price on Progyny from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Progyny presently has an average rating of “Hold” and a consensus price target of $26.50.

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.