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SVB Securities Thinks Progyny’s Stock is Going to Recover

SVB Securities analyst Stephanie Davis reiterated a Buy rating on Progyny (PGNYResearch Report) on May 6 and set a price target of $59.00. The company’s shares closed last Friday at $37.27, close to its 52-week low of $32.86.

According to TipRanks.com, Davis is a 1-star analyst with an average return of -3.0% and a 45.1% success rate. Davis covers the Technology sector, focusing on stocks such as Tabula Rasa HealthCare, NextGen Healthcare, and GoodRx Holdings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Progyny with a $62.00 average price target, implying a 67.3% upside from current levels. In a report issued on May 6, Berenberg Bank also reiterated a Buy rating on the stock with a $66.00 price target.

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The company has a one-year high of $68.32 and a one-year low of $32.86. Currently, Progyny has an average volume of 647.3K.

Based on the recent corporate insider activity of 136 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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