Progyny stock price target maintained at $31 by Citizens on new offering
Citizens maintained its Market Outperform rating and $31.00 price target for Progyny (PGNY) shares following the company's new pooled risk, fixed premium offering. The current stock price of $25.66 suggests the company is undervalued based on its Fair Value, which indicates potential upside. Progyny's solution appears on InvestingPro's list of most undervalued stocks, supported by an attractive PEG ratio of 0.45.
The expanded addressable market of 50 million lives through the new offering does not anticipate a material contribution from Select in its first year, 2027. The firm highlights the historical success of Progyny's other solutions as evidence for its confidence in Select's potential to increase revenue by $130 million or more by 2030, assuming 1% penetration into its addressable market.
Despite strong second-quarter 2026 earnings, surpassing Wall Street expectations, investor sentiment remained cautious due to management's indication of a summer slowdown, leading to a significant drop in after-hours trading.
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