Progyny initiated with an Outperform at JMP Securities

JMP Securities analyst Constantine Davides initiated coverage of Progyny with an Outperform rating and $36 price target. Progyny is a leading provider of fertility benefit and family building solutions, with a historical focus on self-insured employers, the analyst tells investors in a research note. The firm believes the company is well positioned to continue its strong growth, with half of the self-insured employer market still greenfield, combined with a secular trend towards more equitable and inclusive benefits to better attract and retain employees.