Why Progyny Stock Popped 12.5% Today
What happened
Progyny (NASDAQ: PGNY), the employer-sponsored fertility benefits manager that
We haven't written anything about Progyny just yet here at The Motley Fool, but between the earnings report and the stock surge that followed, now seems like a good time to take a look.
So what
So what did Progyny have to say on Wednesday? Starting on the top line, sales surged 120% year over year to $61.2 million, eclipsing analyst predictions of $60.8 million along the way.
Progyny didn't earn any actual
By that metric, analysts were hoping to see Progyny report at least $0.02 per share -- so despite the GAAP loss, investors seem to be viewing this result as a beat.
Now what
Can Progyny keep the beats coming in Q4 and beyond? Maybe, maybe not. Management forecast sales between $65 million and $66.5 million for the year's final quarter, and taken at the midpoint, that works out to perhaps $65.7 million or so in sales. Wall Street had been hoping to see something more like $66 million or better, though. So for now at least, it looks like Progyny is aiming to underperform expectations in Q4.
10 stocks we like better than Progyny, Inc.
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