Progyny (NASDAQ:PGNY) Releases Earnings Results, Misses Expectations By $0.26 EPS

Progyny (NASDAQ:PGNY) posted its quarterly earnings results on Tuesday. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26), Briefing.com reports. Progyny had a net margin of 5.54% and a return on equity of 11.97%. The business had revenue of $286.63 million during the quarter, compared to analysts’ expectations of $296.85 million. During the same quarter last year, the firm earned $0.16 earnings per share. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year.

Progyny Stock Up 0.7 %

NASDAQ PGNY opened at $17.18 on Wednesday. Progyny has a fifty-two week low of $13.93 and a fifty-two week high of $42.08. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 27.27, a price-to-earnings-growth ratio of 1.61 and a beta of 1.44. The business has a fifty day moving average of $17.88 and a 200-day moving average of $23.62.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PGNY shares. Jefferies Financial Group decreased their price target on Progyny from $31.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. Truist Financial reaffirmed a “hold” rating and set a $19.00 price objective (down from $26.00) on shares of Progyny in a report on Wednesday. Canaccord Genuity Group cut Progyny from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $37.00 to $24.00 in a report on Wednesday, August 7th. BTIG Research cut Progyny from a “buy” rating to a “neutral” rating in a report on Wednesday, August 7th. Finally, Canaccord Genuity Group reduced their price objective on Progyny from $24.00 to $18.00 and set a “hold” rating for the company in a report on Friday, September 20th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $27.09.

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.