BTIG analyst David Larsen lowered the firm’s price target on Progyny to $41 from $50 and keeps a Buy rating on the shares. The firm is citing the “negative surprise” of the magnitude in the company’s miss on Q1 revenue, the analyst tells investors in a research note. Despite the miss, BTIG views Progyny’s 18% adjusted EBITDA margin as being excellent, and sees the stock as inexpensive on an earnings basis.
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