Progyny Inc (NASDAQ: PGNY): Reassessing Prospects

Progyny Inc (PGNY) concluded trading on Wednesday at a closing price of $20.85, with 5.72 million shares of worth about $119.3 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -47.74% during that period and on August 07, 2024 the price saw a loss of about -19.00%. Currently the company’s common shares owned by public are about 95.73M shares, out of which, 81.56M shares are available for trading.

Stock saw a price change of -26.06% in past 5 days and over the past one month there was a price change of -25.96%. Year-to-date (YTD), PGNY shares are showing a performance of -43.92% which decreased to -49.15% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $23.90 but also hit the highest price of $42.08 during that period. The average intraday trading volume for Progyny Inc shares is 1.24 million. The stock is currently trading -25.71% below its 20-day simple moving average (SMA20), while that difference is down -24.55% for SMA50 and it goes to -36.98% lower than SMA200.

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Progyny Inc (NASDAQ: PGNY) currently have 95.73M outstanding shares and institutions hold larger chunk of about 88.41% of that.

The stock has a current market capitalization of $1.99B and its 3Y-monthly beta is at 1.46. PE ratio of stock for trailing 12 months is 33.17, while it has posted earnings per share of $0.63 in the same period. Its PEG reads 1.76 and has Quick Ratio of 3.31 while making debt-to-equity ratio of 0.04. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PGNY, volatility over the week remained 6.66% while standing at 4.09% over the month.

Stock’s fiscal year EPS is expected to rise by 2.35% while it is estimated to increase by 36.68% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Leerink Partners on August 07, 2024 offering a Market perform rating for the stock and assigned a target price range of between $31 and $25 to it. Coverage by Canaccord Genuity stated Progyny Inc (PGNY) stock as a Hold in their note to investors on August 07, 2024, suggesting a price target of $24 for the stock. On August 07, 2024, BTIG Research Downgrade their recommendations, while on July 16, 2024, JMP Securities Initiated their ratings for the stock with a price target of $36. Stock get a Sector weight rating from KeyBanc Capital Markets on May 10, 2024.

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