Progyny: Rating Downgrade On Uncertain Growth Outlook
Portfolio Pulse from
Progyny's growth outlook is uncertain, leading to a downgrade from buy to hold. Q3 2024 results were disappointing, with revenue and margins below expectations, and FY24 guidance lowered. Declines in ART cycles and a weaker 2024 sales season raise demand concerns.
November 26, 2024 | 1:00 pm
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Progyny has been downgraded from buy to hold due to disappointing Q3 2024 results and lowered FY24 guidance. Concerns over ART cycles and a weaker 2024 sales season contribute to uncertainty in growth outlook.
The downgrade from buy to hold reflects a loss of confidence in Progyny's growth outlook due to disappointing Q3 2024 results and lowered FY24 guidance. The decline in ART cycles and a weaker 2024 sales season suggest potential demand issues, negatively impacting short-term stock performance.
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IMPORTANCE 80
RELEVANCE 100