Progyny (NASDAQ:PGNY) Updates Q1 2026 Earnings Guidance

Progyny (NASDAQ:PGNY) issued an update on its first quarter 2026 earnings guidance on Thursday morning. The company provided EPS guidance of 0.420-0.450 for the period, compared to the consensus EPS estimate of 0.390. The company issued revenue guidance of $319.0 million-$332.0 million, compared to the consensus revenue estimate of $344.9 million. Progyny also updated its FY 2026 guidance to 1.830-1.950 EPS.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PGNY shares. Canaccord Genuity Group increased their price target on Progyny from $23.00 to $26.00 and gave the company a “hold” rating in a research report on Monday, November 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Progyny in a research report on Monday, December 29th. Truist Financial upgraded shares of Progyny from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Thursday, January 8th. KeyCorp upped their target price on shares of Progyny from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, January 8th. Finally, Citizens Jmp upgraded shares of Progyny from a “market perform” rating to an “outperform” rating and set a $30.00 target price for the company in a research note on Tuesday, January 20th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.80.

Progyny Trading Down 20.5%

PGNY stock opened at $17.69 on Friday. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 27.22, a PEG ratio of 1.41 and a beta of 0.96. The firm has a 50 day moving average of $23.90 and a 200-day moving average of $23.10. Progyny has a 12-month low of $16.75 and a 12-month high of $28.75.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.38 by $0.10. The firm had revenue of $318.40 million during the quarter, compared to analyst estimates of $314.26 million. Progyny had a net margin of 4.54% and a return on equity of 11.38%. Progyny’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.42 earnings per share. Progyny has set its FY 2026 guidance at 1.830-1.950 EPS and its Q1 2026 guidance at 0.420-0.450 EPS. Sell-side analysts forecast that Progyny will post 0.6 earnings per share for the current fiscal year.

Progyny News Summary

Here are the key news stories impacting Progyny this week:

• Positive Sentiment: Q4 results beat consensus on both EPS and revenue (EPS $0.48 vs. $0.38 est.; revenue $318.4M vs. ~$314M est.), showing year-over-year revenue growth. Read More.
• Positive Sentiment: Strong cash generation and shareholder returns: Progyny reported record $210.2M operating cash flow for the year and has repurchased ~6.5M shares under its authorization to date. Read More.
• Positive Sentiment: FY 2026 EPS guidance was raised above consensus (1.83–1.95 vs. ~1.55Street est.), indicating management expects better full‑year profitability despite near‑term revenue headwinds. Read More.
• Neutral Sentiment: Transcripts and slide deck from the earnings call are available for investors who want management detail on drivers (retention, pricing, membership growth) and cadence of benefits. Read More.
• Negative Sentiment: Near‑term revenue guidance disappointed: Q1 2026 revenue guidance ($319M–$332M) is below consensus (~$345M), which likely explains the sell‑off despite the EPS beat and stronger FY EPS outlook. Read More.
• Negative Sentiment: Short interest has risen materially (reported ~41% increase in shares sold short in February to ~4.0M shares, ~5.1% of float), increasing downside pressure and volatility. Read More.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. California State Teachers Retirement System boosted its stake in Progyny by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 70,421 shares of the company’s stock valued at $1,549,000 after purchasing an additional 457 shares during the period. Teza Capital Management LLC increased its position in Progyny by 5.4% in the 2nd quarter. Teza Capital Management LLC now owns 10,068 shares of the company’s stock valued at $221,000 after acquiring an additional 516 shares during the period. Aristides Capital LLC boosted its position in Progyny by 4.6% during the 3rd quarter. Aristides Capital LLC now owns 11,938 shares of the company’s stock worth $257,000 after acquiring an additional 528 shares during the period. Oxford Asset Management LLP raised its stake in shares of Progyny by 4.3% during the second quarter. Oxford Asset Management LLP now owns 12,918 shares of the company’s stock valued at $284,000 after purchasing an additional 531 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Progyny by 0.8% in the 3rd quarter. Alliancebernstein L.P. now owns 96,620 shares of the company’s stock worth $2,079,000 after acquiring an additional 723 shares during the last quarter. Institutional investors own 94.93% of the company’s stock.

Progyny Company Profile

Progyny, Inc is a New York-based fertility benefits management company that partners with employers and health plans to design and administer comprehensive family-building programs. The company’s digital health platform integrates clinical expertise, patient support tools and data analytics to help members navigate fertility treatments, from in vitro fertilization (IVF) and egg freezing to surrogacy and adoption. By focusing on outcomes-based care, Progyny aims to improve success rates while controlling costs for its clients.

The core of Progyny’s offering is its proprietary Smart Cycle® benefit, which bundles clinical, emotional and logistical support into a single package.