Progyny shares are trading lower after the company reported worse-than-expected Q1 sales results and issued Q2 and FY24 sales guidance below estimates.
Portfolio Pulse from Benzinga Newsdesk
Progyny shares are trading lower following the announcement of worse-than-expected Q1 sales results and the issuance of Q2 and FY24 sales guidance that fell below estimates.
May 10, 2024 | 10:44 am
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NEGATIVE IMPACT
Progyny's stock is experiencing a downturn due to disappointing Q1 sales results and lower-than-expected sales guidance for Q2 and FY24.
The negative impact on PGNY's stock price is directly tied to the company's announcement of poor sales performance in Q1 and pessimistic sales guidance for the upcoming quarters. This kind of financial performance and outlook typically leads to a loss of investor confidence and a decrease in stock price, as it suggests potential challenges in the company's revenue growth and profitability.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100