Progyny (NASDAQ:PGNY) Releases 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 Down 19.1 %

NASDAQ PGNY opened at $13.90 on Thursday. The company has a fifty day moving average of $17.69 and a two-hundred day moving average of $23.56. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 1.62 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 issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). The business had revenue of $286.63 million for the quarter, compared to the consensus estimate of $296.85 million. Progyny had a return on equity of 10.87% and a net margin of 5.03%. Progyny’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 earnings per share. Equities research analysts anticipate that Progyny will post 0.64 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $25.00 price target on shares of Progyny in a report on Tuesday, October 1st. Canaccord Genuity Group downgraded shares of Progyny from a “buy” rating to a “hold” rating and dropped their target price for the stock from $37.00 to $24.00 in a research note on Wednesday, August 7th. Truist Financial reaffirmed a “hold” rating and set a $19.00 target price (down from $26.00) on shares of Progyny in a research report on Wednesday. BTIG Research lowered Progyny from a “buy” rating to a “neutral” rating in a report on Wednesday, August 7th. Finally, Bank of America reduced their price objective on Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Progyny presently has a consensus rating of “Hold” and an average 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.