Progyny (NASDAQ:PGNY) Posts Earnings Results, Misses Expectations By $0.26 EPS

Progyny (NASDAQ:PGNY - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.26), Briefing.com reports. The company had revenue of $286.63 million during the quarter, compared to the consensus estimate of $296.85 million. Progyny had a return on equity of 10.87% and a net margin of 5.03%. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.16 earnings per share.

Progyny Stock Performance

Shares of NASDAQ:PGNY traded down $3.28 during trading on Wednesday, reaching $13.90. 5,393,677 shares of the stock traded hands, compared to its average volume of 1,389,901. Progyny has a 52-week low of $13.77 and a 52-week high of $42.08. The stock has a market cap of $1.25 billion, a P/E ratio of 24.28, a price-to-earnings-growth ratio of 1.62 and a beta of 1.44. The stock has a 50-day moving average of $17.88 and a two-hundred day moving average of $23.62.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Leerink Partners decreased their price target on shares of Progyny from $25.00 to $21.00 and set a "market perform" rating for the company in a research note on Thursday, September 19th. Jefferies Financial Group lowered their target price on Progyny from $31.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, September 19th. Leerink Partnrs cut Progyny from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 7th. BTIG Research lowered Progyny from a "buy" rating to a "neutral" rating in a research report on Wednesday, August 7th. Finally, Truist Financial reaffirmed a "hold" rating and issued a $19.00 target price (down from $26.00) on shares of Progyny in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $26.50.

Progyny Company Profile

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists.