In a report released today, David Larsen from BTIG maintained a Buy rating on Progyny, with a price target of $30.00.
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David Larsen’s rating is based on Progyny’s strong financial performance and positive market trends. The company reported impressive second-quarter results for 2025, with total revenue significantly surpassing expectations, driven by both fertility and pharmacy benefits services. This led to an increase in EBITDA, which also exceeded forecasts. Progyny has raised its revenue guidance for 2025, indicating confidence in continued growth despite the loss of a large client.
The demand for fertility treatments appears to be stabilizing and returning to normal levels, which is a positive sign for Progyny. The company has seen healthy member activity and a strong pipeline, with growth in ART cycles, average total members, and client numbers. Progyny’s diverse client base and international market expansion contribute to its positive outlook. Given the easing of macroeconomic uncertainties, Larsen expects demand for Progyny’s services to increase, supporting his Buy rating.
According to TipRanks, Larsen is an analyst with an average return of -11.1% and a 29.05% success rate. Larsen covers the Healthcare sector, focusing on stocks such as Doximity, Simulations Plus, and Astrana Health.