Progyny, Inc.

NasdaqGS:PGNY Stock Report

Market Cap: US$1.2b

Progyny Valuation

Is PGNY undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of PGNY when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: PGNY ($14.34) is trading below our estimate of fair value ($86.03)

Significantly Below Fair Value: PGNY is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PGNY?

Key metric: As PGNY is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for PGNY. This is calculated by dividing PGNY's market cap by their current earnings.
What is PGNY's PE Ratio?
PE Ratio21.3x
EarningsUS$57.27m
Market CapUS$1.22b

Price to Earnings Ratio vs Peers

How does PGNY's PE Ratio compare to its peers?

The above table shows the PE ratio for PGNY vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average32.9x
HQY HealthEquity
85.1x39.8%US$8.2b
MOH Molina Healthcare
14.7x14.7%US$16.9b
HUM Humana
21.9x11.5%US$29.8b
CNC Centene
9.8x3.4%US$30.1b
PGNY Progyny
21.3x19.6%US$1.2b

Price-To-Earnings vs Peers: PGNY is good value based on its Price-To-Earnings Ratio (21.3x) compared to the peer average (32.9x).

Price to Earnings Ratio vs Industry

How does PGNY's PE Ratio compare vs other companies in the US Healthcare Industry?

5 CompaniesPrice / EarningsEstimated GrowthMarket Cap
THC Tenet Healthcare
3.9x-39.2%US$12.31b
NEUE NeueHealth
1.1xn/aUS$31.53m
IDXG Interpace Biosciences
2.6xn/aUS$12.50m
FZMD Fuse Medical
2.2xn/aUS$8.67m
PGNY 21.3xIndustry Avg. 21.9xNo. of Companies10PE01632486480+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PGNY is good value based on its Price-To-Earnings Ratio (21.3x) compared to the US Healthcare industry average (21.9x).

Price to Earnings Ratio vs Fair Ratio

What is PGNY's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PGNY PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio21.3x
Fair PE Ratio32.2x

Price-To-Earnings vs Fair Ratio: PGNY is good value based on its Price-To-Earnings Ratio (21.3x) compared to the estimated Fair Price-To-Earnings Ratio (32.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst PGNY forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$14.34
US$18.86
+31.5%
10.0%US$22.00US$17.00n/a7
Dec ’25US$15.57
US$19.57
+25.7%
10.2%US$22.00US$17.00n/a7
Nov ’25US$15.00
US$24.38
+62.5%
17.3%US$31.00US$18.00n/a8
Oct ’25US$16.18
US$24.38
+50.6%
17.3%US$31.00US$18.00n/a8
Sep ’25US$23.49
US$30.22
+28.7%
12.2%US$37.00US$24.00n/a9
Aug ’25US$27.10
US$37.80
+39.5%
13.0%US$48.00US$30.00n/a10
Jul ’25US$28.38
US$38.00
+33.9%
13.5%US$48.00US$30.00n/a9
Jun ’25US$26.95
US$38.00
+41.0%
13.5%US$48.00US$30.00n/a9
May ’25US$32.29
US$46.90
+45.2%
5.3%US$51.00US$43.00n/a10
Apr ’25US$36.51
US$46.90
+28.5%
5.3%US$51.00US$43.00n/a10
Mar ’25US$36.02
US$46.70
+29.7%
4.8%US$50.00US$43.00n/a10
Feb ’25US$38.76
US$46.44
+19.8%
3.8%US$49.00US$43.00n/a9
Jan ’25US$37.18
US$46.25
+24.4%
3.9%US$49.00US$43.00n/a8
Dec ’24US$34.59
US$46.25
+33.7%
3.9%US$49.00US$43.00US$15.578
Nov ’24US$30.43
US$49.50
+62.7%
7.4%US$57.00US$45.00US$15.008
Oct ’24US$34.02
US$50.25
+47.7%
6.9%US$58.00US$46.00US$16.188
Sep ’24US$37.37
US$48.88
+30.8%
11.1%US$58.00US$38.00US$23.498
Aug ’24US$41.41
US$47.63
+15.0%
11.2%US$58.00US$38.00US$27.108
Jul ’24US$39.34
US$47.63
+21.1%
11.2%US$58.00US$38.00US$28.388
Jun ’24US$37.86
US$47.50
+25.5%
11.2%US$58.00US$38.00US$26.958
May ’24US$33.59
US$46.57
+38.6%
15.8%US$61.00US$34.00US$32.297
Apr ’24US$32.12
US$47.00
+46.3%
16.8%US$61.00US$34.00US$36.516
Mar ’24US$38.23
US$47.17
+23.4%
17.3%US$62.00US$34.00US$36.026
Feb ’24US$35.21
US$47.17
+34.0%
17.3%US$62.00US$34.00US$38.766
Jan ’24US$31.15
US$54.14
+73.8%
9.7%US$62.00US$45.00US$37.187
Dec ’23US$36.76
US$55.57
+51.2%
6.7%US$62.00US$50.00US$34.597

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/22 02:20
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Progyny, Inc. is covered by 20 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Zhilin LongBerenberg
Nisala WeerasuriyaBerenberg
Allen LutzBofA Global Research