Progyny (NASDAQ:PGNY) Raised to Strong-Buy at Zacks Research

Progyny (NASDAQ:PGNY - Get Free Report) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Thursday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Progyny in a research note on Friday, March 27th. Wall Street Zen raised shares of Progyny from a "hold" rating to a "buy" rating in a research note on Saturday, April 18th. JPMorgan Chase & Co. set a $35.00 price objective on shares of Progyny in a research note on Wednesday, January 21st. Truist Financial dropped their price objective on shares of Progyny from $34.00 to $28.00 and set a "buy" rating for the company in a research note on Monday, March 2nd. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $30.00 target price on shares of Progyny in a research report on Friday, March 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $27.91.

Progyny Stock Up 23.8%

Shares of PGNY stock opened at $23.72 on Thursday. Progyny has a twelve month low of $16.10 and a twelve month high of $28.75. The company has a market cap of $1.86 billion, a P/E ratio of 30.81, a P/E/G ratio of 1.10 and a beta of 0.91. The business has a fifty day simple moving average of $17.87 and a 200 day simple moving average of $21.69.

Progyny (NASDAQ:PGNY - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.03. The business had revenue of $328.50 million during the quarter, compared to the consensus estimate of $326.47 million. Progyny had a return on equity of 12.76% and a net margin of 5.23%.Progyny's revenue for the quarter was down 26.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.17 EPS. 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, equities research analysts anticipate that Progyny will post 1.12 earnings per share for the current fiscal year.

Insider Activity

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 completion of the transaction, the executive vice president owned 89,879 shares of the company's stock, valued at approximately $1,563,894.60. This trade represents a 4.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 7,455 shares of company stock worth $129,515 over the last ninety days. 9.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Progyny

Large investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd bought a new position in shares of Progyny during the fourth quarter valued at $25,000. Federated Hermes Inc. raised its stake in shares of Progyny by 147.3% during the third quarter. Federated Hermes Inc. now owns 1,375 shares of the company's stock valued at $30,000 after acquiring an additional 819 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of Progyny by 79.4% during the fourth quarter. Hantz Financial Services Inc. now owns 1,676 shares of the company's stock valued at $43,000 after acquiring an additional 742 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Progyny by 61.8% during the third quarter. Versant Capital Management Inc now owns 2,340 shares of the company's stock worth $50,000 after acquiring an additional 894 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of Progyny by 164.9% during the third quarter. Covestor Ltd now owns 2,609 shares of the company's stock worth $56,000 after acquiring an additional 1,624 shares during the last quarter. Institutional investors own 94.93% of the company's stock.

Key Progyny News

Here are the key news stories impacting Progyny this week:

• Positive Sentiment: Progyny beat Q1 estimates, reporting $0.50 adjusted EPS versus $0.44 expected and revenue of $328.5 million versus $326.5 million forecast, helping reinforce the stock’s move higher. Progyny, Inc. Announces First Quarter 2026 Results
• Positive Sentiment: The company raised second-quarter and full-year 2026 guidance, with Q2 EPS outlook of $0.50 to $0.53 and FY2026 EPS guidance of $1.98 to $2.09, both above Wall Street estimates, which supports confidence in future earnings power. Conference call and earnings materials
• Positive Sentiment: Management said early selling-season activity and member engagement were strong, and the company highlighted continued share repurchases, with 8.8 million shares bought back since November, adding another supportive signal for investors. Progyny, Inc. Announces First Quarter 2026 Results
• Neutral Sentiment: Revenue was still down 26.4% year over year, so while the quarter beat expectations, investors may remain focused on whether growth can stabilize after the recent decline. Progyny: Q1 Earnings Snapshot
• Neutral Sentiment: Some commentary noted concern around flat revenue guidance, which could temper the bullish reaction if investors want clearer top-line acceleration going forward. The Bull Case For Progyny (PGNY) Could Change Following Flat Q1 2026 Revenue Guidance Concerns

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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