Citizens Jmp Forecasts Strong Price Appreciation for Progyny (NASDAQ:PGNY) Stock

Key Points

• Citizens JMP raised its price target on Progyny from $30 to $31 and kept a market outperform rating, implying about 35.6% upside from the prior close.
• Analyst sentiment remains constructive overall: multiple firms recently reiterated or upgraded ratings, and MarketBeat says Progyny now has an average rating of Moderate Buy with a $28 average target price.
• Progyny’s latest quarterly results beat expectations, with EPS of $0.29 versus $0.26 expected and revenue of $328.5 million slightly above estimates, even though revenue fell 26.4% year over year.

Progyny (NASDAQ:PGNY - Get Free Report) had its target price raised by research analysts at Citizens Jmp from $30.00 to $31.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "market outperform" rating on the stock. Citizens Jmp's target price points to a potential upside of 35.64% from the stock's previous close.

A number of other equities analysts also recently issued reports on the stock. Zacks Research raised shares of Progyny from a "hold" rating to a "strong-buy" rating in a research note on Thursday. Canaccord Genuity Group decreased their price target on shares of Progyny from $26.00 to $19.00 and set a "hold" rating for the company in a research note on Wednesday, March 11th. Citigroup reissued an "outperform" rating on shares of Progyny in a research note on Monday. Jefferies Financial Group reissued a "buy" rating and issued a $30.00 price target on shares of Progyny in a research note on Friday, March 6th. Finally, JPMorgan Chase & Co. set a $35.00 price target on shares of Progyny in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $28.00.

Progyny Price Performance

NASDAQ PGNY traded down $0.87 during trading on Monday, hitting $22.85. 425,220 shares of the company's stock traded hands, compared to its average volume of 1,518,527. The stock has a fifty day moving average of $17.87 and a two-hundred day moving average of $21.69. Progyny has a 12-month low of $16.10 and a 12-month high of $28.75. The firm has a market cap of $1.79 billion, a P/E ratio of 29.73, a PEG ratio of 1.37 and a beta of 0.91.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.03. The business had revenue of $328.50 million during the quarter, compared to analyst estimates of $326.47 million. Progyny had a net margin of 5.23% and a return on equity of 13.34%. The company's revenue was down 26.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 earnings per share. Progyny has set its FY 2026 guidance at 1.980-2.09 EPS and its Q2 2026 guidance at 0.500-0.53 EPS. As a group, analysts expect that Progyny will post 1.12 earnings per share for the current fiscal year.

Insider Activity at Progyny

In other news, EVP Allison Swartz sold 4,657 shares of the firm's stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $17.40, for a total transaction of $81,031.80. Following the sale, the executive vice president directly owned 89,879 shares in the company, valued at $1,563,894.60. This trade represents a 4.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 7,455 shares of company stock worth $129,515. 9.90% of the stock is owned by company insiders.

Institutional Trading of Progyny

Several institutional investors and hedge funds have recently modified their holdings of PGNY. Vanguard Group Inc. increased its holdings in shares of Progyny by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 10,106,147 shares of the company's stock worth $217,484,000 after buying an additional 235,513 shares during the last quarter. State Street Corp boosted its stake in shares of Progyny by 1.5% during the 4th quarter. State Street Corp now owns 2,953,186 shares of the company's stock worth $75,838,000 after purchasing an additional 44,642 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its position in shares of Progyny by 46.9% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 2,693,393 shares of the company's stock worth $45,734,000 after purchasing an additional 859,289 shares during the period. Wellington Management Group LLP lifted its position in shares of Progyny by 260.9% in the 4th quarter. Wellington Management Group LLP now owns 2,243,268 shares of the company's stock worth $57,607,000 after purchasing an additional 1,621,688 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of Progyny by 37.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,996,957 shares of the company's stock worth $43,933,000 after purchasing an additional 545,431 shares during the period. 94.93% of the stock is currently owned by institutional investors.

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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