Progyny (NASDAQ:PGNY) Price Target Raised to $33.00 at Citizens Jmp

Key Points

• Citizens JMP raised Progyny’s price target from $31 to $33 while maintaining a “market outperform” rating, implying approximately 25% upside from the stock’s $26.38 opening price.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $34.36; individual targets range from $30 to $40.
• Progyny exceeded quarterly earnings expectations, reporting $0.55 in EPS versus a $0.33 consensus estimate and $350.51 million in revenue. The company also authorized a $200 million share-buyback program, covering up to 10.3% of outstanding shares.

Progyny (NASDAQ:PGNY - Get Free Report) had its target price lifted by Citizens Jmp from $31.00 to $33.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a "market outperform" rating on the stock. Citizens Jmp's target price suggests a potential upside of 25.12% from the company's current price.

Several other equities research analysts have also recently weighed in on PGNY. BTIG Research upped their price objective on shares of Progyny from $30.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Bank of America raised their target price on shares of Progyny from $29.00 to $31.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. Wall Street Zen cut shares of Progyny from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 25th. Barclays cut their price target on shares of Progyny from $34.00 to $30.00 and set an "equal weight" rating for the company in a report on Wednesday, August 12th. Finally, Zacks Research upgraded shares of Progyny from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Progyny presently has a consensus rating of "Moderate Buy" and an average price target of $34.36.

Progyny Price Performance

Shares of NASDAQ:PGNY opened at $26.38 on Tuesday. The company has a market capitalization of $2.02 billion, a P/E ratio of 28.56, a P/E/G ratio of 1.79 and a beta of 0.99. Progyny has a 1 year low of $16.10 and a 1 year high of $33.06. The business's 50 day simple moving average is $28.91 and its 200 day simple moving average is $23.85.

Progyny (NASDAQ:PGNY - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.22. The firm had revenue of $350.51 million during the quarter, compared to analysts' expectations of $349.05 million. Progyny had a return on equity of 15.98% and a net margin of 6.00%.The company's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.19 EPS. Progyny has set its Q3 2026 guidance at 0.500-0.520 EPS and its FY 2026 guidance at 2.040-2.100 EPS. On average, sell-side analysts anticipate that Progyny will post 1.25 EPS for the current fiscal year.

Progyny declared that its Board of Directors has approved a stock buyback program on Tuesday, May 26th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to reacquire up to 10.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Institutional Investors Weigh In On Progyny

Hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd bought a new position in shares of Progyny during the 4th quarter worth approximately $25,000. Public Employees Retirement System of Ohio acquired a new position in shares of Progyny during the 2nd quarter valued at $29,000. Nykredit A S acquired a new position in shares of Progyny during the 2nd quarter valued at $38,000. Hantz Financial Services Inc. boosted its stake in Progyny by 79.4% during the fourth quarter. Hantz Financial Services Inc. now owns 1,676 shares of the company's stock worth $43,000 after acquiring an additional 742 shares in the last quarter. Finally, Toth Financial Advisory Corp acquired a new stake in Progyny in the second quarter worth $65,000. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Progyny Company Profile

Progyny, Inc is a New York-based fertility benefits management company that partners with employers and health plans to design and administer comprehensive family-building programs. The company's digital health platform integrates clinical expertise, patient support tools and data analytics to help members navigate fertility treatments, from in vitro fertilization (IVF) and egg freezing to surrogacy and adoption. By focusing on outcomes-based care, Progyny aims to improve success rates while controlling costs for its clients.

The core of Progyny's offering is its proprietary Smart Cycle® benefit, which bundles clinical, emotional and logistical support into a single package.

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