BTIG Reiterates Neutral Rating on Progyny (PGNY)

Progyny (PGNY) PT Lowered to $22 at BofA Securities

September 20, 2024 5:33 AM EDT

BofA Securities analyst Michael Cherny lowered the price target on Progyny (NASDAQ: PGNY) to $22.00 (from $30.00) while maintaining a Buy rating.

The analyst comments "We are updating our Progyny (PGNY) model following last nights announcement that Progynys largest client opted to terminate the contract with the company effective January 1, 2025 (link to note with further details). We lower our 2025 member estimate to... More

Progyny (PGNY) PT Lowered to $24 at Jefferies

September 19, 2024 1:21 PM EDT

Jefferies analyst Glen Santangelo lowered the price target on Progyny (NASDAQ: PGNY) to $24.00 (from $31.00) while maintaining a Buy rating.

The analyst comments "The weaker utilization trend has persisted in July/August, putting F24 at risk. Throw on top of that, the... More

Progyny (PGNY) PT Lowered to $22 at JPMorgan

September 19, 2024 6:56 AM EDT

JPMorgan analyst Anne Samuel lowered the price target on Progyny (NASDAQ: PGNY) to $22.00 (from $31.00) while maintaining a Overweight rating.

The analyst comments "PGNY faced another blow to the model today, as they announced that a large client plans to terminate its services agreement with the company. The client represented roughly 13% of 2023 revenue ($130M), and 670k lives, and the termination will become a detriment to the model beginning in January 2025. Removing this client from our model reduces... More

JMP Securities Downgrades Progyny (PGNY) to Market Perform

September 19, 2024 2:24 AM EDT

JMP Securities analyst Constantine Davides downgraded Progyny (NASDAQ: PGNY) from Market Outperform to Market Perform.

The analyst comments: "Reducing 2025 estimates and moving to Market Perform. PGNY's 2024 growth has been pressured by various utilization-related headwinds. While these fluctuations have tended to normalize over... More

Progyny (PGNY) falls 20% after significant client terminates its services agreement

September 18, 2024 5:02 PM EDT

Progyny (NASDAQ: PGNY) falls 20% after significant client terminates its services agreement

The Client, which represents approximately 670,000 members as of June 30, 2024, comprised 12% and 13% of the Companys revenue for the six-month period ending June 30, 2024, and the twelve-month period ending December 31, 2023, respectively. The Client... More

Progyny (PGNY): Significant client has elected to exercise a 90-day option to terminate its services agreement

September 18, 2024 5:00 PM EDT

Progyny (NASDAQ: PGNY) disclosed:

Progyny, Inc. (the Company) was recently notified by a significant client (the Client) that the Client has elected to exercise a 90-day option to terminate its services agreement with the Company, effective as of January 1, 2025. The Client confirmed that they had no issues of concern over the course of its multi-year... More

JPMorgan refreshed its U.S. Analyst Focus List and added these four names

September 17, 2024 2:00 PM EDT

JPMorgan on Tuesday updated its U.S. Analyst Focus List, a selection of stocks picked by individual analysts. Stocks from this list are targeted to several investment strategies, including growth, income, value, and short ideas.

JPMorgan updates the U.S. Analyst Focus List on a monthly basis. Stocks may be removed mid-month if their valuation targets have been... More