In Thursday’s session, Progyny Inc. (NASDAQ:PGNY) marked $29.77 per share, down from $32.55 in the previous session. While Progyny Inc. has underperformed by -8.54%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PGNY fell by -46.23%, with highs and lows ranging from $68.32 to $25.67, whereas the simple moving average fell by -30.22% in the last 200 days.
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On December 02, 2021, Jefferies started tracking Progyny Inc. (NASDAQ: PGNY) recommending Buy. A report published by Citigroup on November 22, 2021, Downgraded its rating to ‘Neutral’ for PGNY. Berenberg also rated PGNY shares as ‘Buy’, setting a target price of $81 on the company’s shares in an initiating report dated September 30, 2021. Barclays Initiated an Overweight rating on August 12, 2021, and assigned a price target of $64. Guggenheim June 02, 2021d its ‘Buy’ rating to ‘Neutral’ for PGNY, as published in its report on June 02, 2021. JP Morgan’s report from April 29, 2021 suggests a price prediction of $65 for PGNY shares, giving the stock a ‘Overweight’ rating. BofA Securities also rated the stock as ‘Buy’.
Analysis of Progyny Inc. (PGNY)
Further, the quarter-over-quarter increase in sales is 41.00%, showing a positive trend in the upcoming months.
Progyny Inc.’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of 23.20% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.40, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
The average volume for any stock is also a very valuable indicator of volatility, and PGNY has an average volume of 790.53K. On a monthly basis, the volatility of the stock is set at 4.63%, whereas on a weekly basis, it is put at 5.06%, with a loss of -3.75% over the past seven days. Furthermore, long-term investors anticipate a median target price of $58.00, showing growth from the present price of $29.77, which can serve as yet another indication of whether PGNY is worth investing in or should be passed over.
How Do You Analyze Progyny Inc. Shares?
Health Information Services giant Progyny Inc. (PGNY) is based in the USA and is one of the largest companies in the market. When comparing Progyny Inc. shares with other companies under Healthcare, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 53.64, there is a growth in quarterly earnings of -67.20%.
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.90%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 96.90% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in PGNY shares?
The recent increase in stakes in PGNY appears to be a result of several institutional investors and hedge funds increasing their positions. Macquarie Investment Management B’s position in PGNY has decreased by -0.75% in the first quarter. The company now owns 7,298,319 shares of the stock, with a value of $212.02 million, following the sale of -55,389 additional shares during the last quarter. BlackRock Fund Advisors made another decreased to its shares in PGNY during the first quarter, downing its stake by -0.04%. During the last quarter, the company picked up -2,561 additional shares for a total stake of worth $200.61 million, bringing number of shares owned by the company to 6,905,606.
During the first quarter, The Vanguard Group, Inc. added a 55,272 position in PGNY. American Century Investment Manag purchased an additional 1.21 million shares in the last quarter, increasing its holdings by 52.05%, now holding 3.53 million shares worth $102.61 million. At the end of the first quarter, Weatherbie Capital LLC decreased its PGNY holdings by -13.75% and now holds 3.34 million PGNY shares valued at $96.99 million with the lessened -0.53 million shares during the period. PGNY shares are owned by institutional investors to the tune of 96.90% at present.