Progyny price target raised to $26 from $23 at Canaccord

Canaccord analyst Richard Close raised the firm’s price target on Progyny (PGNY) to $26 from $23 and keeps a Hold rating on the shares. The firm said they posted a fourth consecutive quarter of revenue and adj-EBITDA upside to estimates in 3Q and raised FY’25 guidance across metrics. With the 2025 selling season largely complete, Progyny closed over 80 new clients representing roughly 900,000 lives which we note is short of the 1 million lives targeted.