Progyny (NASDAQ:PGNY) Stock Price Expected to Rise, Truist Financial Analyst Says

Key Points

• Truist Financial raised its price target on Progyny from $28 to $30 and kept a buy rating, implying about 32% upside from the current price.
• Analyst sentiment remains generally positive, with Progyny carrying a Moderate Buy consensus and an average target price of $28.18, though some firms have recently cut targets.
• Progyny recently beat earnings expectations with Q1 EPS of $0.29 versus $0.26 expected, but revenue fell 26.4% year over year and the stock traded lower on Monday at $22.67.

Progyny (NASDAQ:PGNY - Get Free Report) had its price objective hoisted by research analysts at Truist Financial from $28.00 to $30.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's target price indicates a potential upside of 32.33% from the company's current price.

Several other research firms have also recently weighed in on PGNY. KeyCorp lowered their target price on Progyny from $32.00 to $28.00 and set an "overweight" rating on the stock in a research note on Monday, March 2nd. Jefferies Financial Group reiterated a "buy" rating and set a $30.00 price target on shares of Progyny in a report on Friday, March 6th. JPMorgan Chase & Co. set a $35.00 price target on Progyny in a report on Wednesday, January 21st. Barclays reduced their price target on Progyny from $29.00 to $23.00 and set an "overweight" rating for the company in a report on Friday, March 20th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Progyny in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $28.18.

Progyny Stock Performance

PGNY traded down $1.05 during trading on Monday, reaching $22.67. The company had a trading volume of 702,807 shares, compared to its average volume of 1,521,556. The firm's 50-day simple moving average is $17.87 and its 200 day simple moving average is $21.69. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 29.50, a PEG ratio of 1.37 and a beta of 0.91. Progyny has a 12-month low of $16.10 and a 12-month high of $28.75.

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

Insiders Place Their Bets

In related news, EVP Allison Swartz sold 4,657 shares of the business's stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $17.40, for a total value of $81,031.80. Following the completion of the sale, the executive vice president directly owned 89,879 shares in the company, valued at approximately $1,563,894.60. The trade was a 4.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders sold 7,455 shares of company stock valued at $129,515. 9.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Progyny

Several institutional investors and hedge funds have recently added to or reduced their stakes in PGNY. Royal Bank of Canada lifted its holdings in Progyny by 384.8% in the 1st quarter. Royal Bank of Canada now owns 13,027 shares of the company's stock worth $291,000 after purchasing an additional 10,340 shares during the last quarter. Amundi lifted its holdings in Progyny by 103.8% in the 1st quarter. Amundi now owns 11,419 shares of the company's stock worth $264,000 after purchasing an additional 5,817 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Progyny by 6.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 252,032 shares of the company's stock worth $5,630,000 after buying an additional 14,297 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Progyny by 37.4% during the second quarter. Invesco Ltd. now owns 379,189 shares of the company's stock worth $8,342,000 after buying an additional 103,253 shares during the last quarter. Finally, Walleye Capital LLC lifted its holdings in shares of Progyny by 6.9% during the second quarter. Walleye Capital LLC now owns 12,080 shares of the company's stock worth $266,000 after buying an additional 780 shares during the last quarter. 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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