While Progyny Inc has overperformed by 0.74%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PGNY rose by 13.82%, with highs and lows ranging from $44.95 to $29.44, whereas the simple moving average fell by -0.12% in the last 200 days.
On February 26, 2024, Leerink Partners started tracking Progyny Inc (NASDAQ: PGNY) recommending Outperform. A report published by Barclays on January 03, 2024, Initiated its previous ‘Overweight’ rating for PGNY. Canaccord Genuity also rated PGNY shares as ‘Buy’, setting a target price of $46 on the company’s shares in an initiating report dated September 27, 2023. BTIG Research Initiated an Buy rating on May 22, 2023, and assigned a price target of $50. Cantor Fitzgerald initiated its ‘Overweight’ rating for PGNY, as published in its report on April 21, 2023. SVB Leerink’s report from January 05, 2023 suggests a price prediction of $34 for PGNY shares, giving the stock a ‘Mkt Perform’ rating. KeyBanc Capital Markets also rated the stock as ‘Overweight’.
Analysis of Progyny Inc (PGNY)
Further, the quarter-over-quarter increase in sales is 25.95%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Progyny Inc’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of 13.34% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 3.44, 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.
As an indicator of volatility for any stock, average volume can also be very valuable, and PGNY is recording an average volume of 790.34K. On a monthly basis, the volatility of the stock is set at 4.00%, whereas on a weekly basis, it is put at 3.22%, with a loss of -0.35% over the past seven days. Furthermore, long-term investors anticipate a median target price of $47.10, showing growth from the present price of $36.56, 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?
Progyny Inc (PGNY) is based in the USA and is one of the most prominent companies operating in the Health Information Services 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 59.27, there is a growth in quarterly earnings of 292.08%.
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. 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 13.72%. 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 86.99% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
PGNY shares are owned by institutional investors to the tune of 86.99% at present.
