JPMorgan Chase & Co. Boosts Progyny (NASDAQ:PGNY) Price Target to $30.00

Key Points

• JPMorgan raised Progyny’s price target to $30 from $27 while maintaining a neutral rating, implying about 17% upside from the reported $25.59 share price.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and average price target of $33.91; targets from other firms range as high as $37.
• Progyny exceeded quarterly earnings expectations, reporting $0.55 in EPS versus $0.33 expected, while revenue rose 5.3% year over year. The company also authorized a $200 million share repurchase program, covering up to 10.3% of outstanding shares.

Progyny (NASDAQ:PGNY - Get Free Report) had its target price lifted by analysts at JPMorgan Chase & Co. from $27.00 to $30.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 17.23% from the company's current price.

A number of other research firms also recently commented on PGNY. Canaccord Genuity Group set a $35.00 price objective on Progyny in a report on Friday, August 7th. Wells Fargo & Company began coverage on shares of Progyny in a research note on Thursday. They issued an "overweight" rating and a $37.00 target price for the company. Bank of America increased their price target on shares of Progyny from $29.00 to $31.00 and gave the stock a "buy" rating in a research note on Tuesday, June 2nd. Zacks Research upgraded shares of Progyny from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 8th. Finally, Wall Street Zen lowered shares of Progyny from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 25th. One investment 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 company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $33.91.

Progyny Stock Performance

Shares of NASDAQ:PGNY traded down $0.37 during midday trading on Friday, hitting $25.59. 220,379 shares of the stock were exchanged, compared to its average volume of 1,447,208. Progyny has a 52-week low of $16.10 and a 52-week high of $33.06. The business's fifty day simple moving average is $29.15 and its two-hundred day simple moving average is $23.50. The company has a market capitalization of $1.96 billion, a PE ratio of 27.82, a P/E/G ratio of 1.85 and a beta of 1.01.

Progyny (NASDAQ:PGNY - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.22. Progyny had a return on equity of 15.98% and a net margin of 6.00%.The firm had revenue of $350.51 million for the quarter, compared to the consensus estimate of $349.05 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The business's quarterly revenue was up 5.3% compared to the same quarter last year. Progyny has set its Q3 2026 guidance at 0.500-0.520 EPS and its FY 2026 guidance at 2.040-2.100 EPS. As a group, equities analysts anticipate that Progyny will post 1.19 EPS for the current year.

Progyny announced that its Board of Directors has initiated a share repurchase program on Tuesday, May 26th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to reacquire up to 10.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Cheryl Scott sold 7,439 shares of the firm's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $26.39, for a total value of $196,315.21. Following the sale, the director directly owned 19,772 shares of the company's stock, valued at approximately $521,783.08. This trade represents a 27.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Geoffrey Clapp sold 1,530 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $25.58, for a total transaction of $39,137.40. Following the completion of the sale, the insider directly owned 59,117 shares of the company's stock, valued at approximately $1,512,212.86. This trade represents a 2.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 19,063 shares of company stock worth $489,413 in the last ninety days. 9.90% of the stock is owned by insiders.

Institutional Trading of Progyny

A number of hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new stake in Progyny during the fourth quarter worth $25,000. Public Employees Retirement System of Ohio acquired a new position in shares of Progyny in the 2nd quarter valued at $29,000. Hantz Financial Services Inc. lifted its holdings in shares of Progyny by 79.4% during the 4th quarter. Hantz Financial Services Inc. now owns 1,676 shares of the company's stock worth $43,000 after acquiring an additional 742 shares during the period. Toth Financial Advisory Corp acquired a new stake in shares of Progyny during the 2nd quarter valued at about $65,000. Finally, Quarry LP boosted its position in shares of Progyny by 2,004.1% during the 3rd quarter. Quarry LP now owns 3,598 shares of the company's stock valued at $77,000 after acquiring an additional 3,427 shares in the last quarter. Institutional investors own 94.93% of the company's stock.

About Progyny

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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