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.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PGNY. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $25.00 price objective on shares of Progyny in a research report on Tuesday, October 1st. Canaccord Genuity Group reduced their target price on Progyny from $18.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday. Barclays lowered their price target on Progyny from $30.00 to $17.00 and set an “overweight” rating on the stock in a report on Thursday. Canaccord Genuity Group lowered shares of Progyny from a “buy” rating to a “hold” rating and reduced their price target for the stock from $37.00 to $24.00 in a research note on Wednesday, August 7th. Finally, Truist Financial restated a “hold” rating and set a $19.00 price objective (down previously from $26.00) on shares of Progyny in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $25.42.

Progyny Stock Performance

NASDAQ:PGNY opened at $14.01 on Friday. The stock has a 50-day simple moving average of $17.49 and a two-hundred day simple moving average of $23.49. The firm has a market capitalization of $1.19 billion, a PE ratio of 24.10, a P/E/G ratio of 1.31 and a beta of 1.44. Progyny has a 52-week low of $13.77 and a 52-week high of $42.08.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.26). The firm had revenue of $286.63 million for the quarter, compared to the consensus estimate of $296.85 million. Progyny had a net margin of 5.03% and a return on equity of 11.36%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.16 earnings per share. Equities analysts forecast 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.