In a report released yesterday, Allen Lutz from Bank of America Securities maintained a Buy rating on Progyny (PGNY – Research Report), with a price target of $30.00.
Allen Lutz has given his Buy rating due to a combination of factors that highlight Progyny’s strong financial performance and promising future outlook. The company reported a robust fourth quarter, with revenue and adjusted EBITDA significantly surpassing market expectations. This outperformance was driven by higher than anticipated ART cycles and a return to historical levels of member engagement, indicating a resurgence in demand for fertility services.
Furthermore, Progyny’s guidance for 2025 is optimistic, exceeding both Street and internal estimates. The company’s revenue and adjusted EBITDA projections for the upcoming year are notably higher than consensus forecasts, suggesting confidence in continued growth. Additionally, Progyny’s strategic focus on expanding its offerings and geographic reach, alongside favorable legislative developments, supports a positive long-term trajectory. These elements together underpin Lutz’s decision to maintain a Buy rating on Progyny’s stock.
In another report released on February 20, Jefferies also maintained a Buy rating on the stock with a $28.00 price target.
Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PGNY in relation to earlier this year.