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SVB Securities Reaffirms Their Buy Rating on Progyny (PGNY)

In a report released on August 12, Stephanie Davis from SVB Securities maintained a Buy rating on Progyny (PGNYResearch Report), with a price target of $59.00. The company’s shares closed yesterday at $46.08.

According to TipRanks, Davis is an analyst with an average return of -0.5% and a 50.69% success rate. Davis covers the Technology sector, focusing on stocks such as Allscripts, NextGen Healthcare, and Tabula Rasa HealthCare.

Progyny has an analyst consensus of Strong Buy, with a price target consensus of $58.60, a 27.17% upside from current levels. In a report released on August 8, J.P. Morgan also maintained a Buy rating on the stock with a $78.00 price target.

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Based on Progyny’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $172.22 million and a net profit of $4.97 million. In comparison, last year the company earned a revenue of $128.65 million and had a net profit of $18.73 million

Based on the recent corporate insider activity of 124 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PGNY in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Progyny, Inc. is a medical device company, which engages in the field of reproductive medicine, translating scientific discoveries related to early embryo development into clinical tools. Its services include egg freezing, IVF treatment, surrogacy, podcast, adoption, and Eeva Test. The company was founded on April 03, 2008 and is headquartered in New York, NY.

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