Progyny (NASDAQ:PGNY) Issues 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.

Progyny Stock Performance

NASDAQ PGNY traded up $0.12 during trading hours on Tuesday, hitting $17.18. The company had a trading volume of 1,996,870 shares, compared to its average volume of 1,371,571. The firm has a 50 day simple moving average of $18.01 and a 200 day simple moving average of $23.73. Progyny has a 52 week low of $13.93 and a 52 week high of $42.08. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 27.27, a PEG ratio of 1.57 and a beta of 1.44.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PGNY shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 price objective on shares of Progyny in a report on Tuesday, October 1st. JPMorgan Chase & Co. decreased their target price on shares of Progyny from $31.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, September 19th. Truist Financial reduced their target price on Progyny from $33.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. JMP Securities lowered shares of Progyny from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 19th. Finally, Leerink Partners decreased their price target on shares of Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a report on Thursday, September 19th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $27.73.

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.