Progyny, Inc. (PGNY) Supported by Analysts as Earnings Visibility Improves

We recently compiled a list of the 15 High Growth Mid-Cap Stocks to Buy. The eleventh stock on our list is Progyny, Inc.

TheFly reported on January 8 that Truist upgraded PGNY to Buy from Hold and raised its price target to $34 from $28. The firm stated that while worries about ProgynyRx are increasingly seen as a cash-pay versus covered-benefit issue rather than a structural issue, demand outside of Amazon is still strong. Additionally, Truist pointed out that the company’s cautious guidance strategy improves visibility and reduces the possibility of earnings surprises.

On the same day, KeyBanc analyst Scott Schoenhaus raised Progyny, Inc. (NASDAQ:PGNY)’s price target to $32 from $30 while maintaining an Overweight rating. The firm said that after a volatile year for healthcare IT stocks, many companies in its coverage are entering a period of fundamental inflection, with estimates stabilizing and valuations having largely bottomed. While KeyBanc expects momentum to persist, it also noted that competitive dynamics and regulatory factors could continue to weigh on valuation multiples.

Progyny, Inc. (NASDAQ:PGNY) specializes in managing fertility and family-building benefits for large employers. Its platform integrates clinical expertise with a “Smart Cycle” model, which focuses on achieving the best medical outcomes (such as single-birth pregnancies) while reducing overall healthcare costs for its clients.

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Disclosure: None.