bullish
Progyny (PGNY US): Initial 2022 Guidance Issued After Record Number of New Clients Added
Tina has highlighted this Insight as a Top Pick
190 Views09 Nov 2021 21:53
SUMMARY
- Progyny Inc (PGNY US) shares touched new high after the company issued 2022 revenue growth guidance of 50%. The company has added record high number of new clients and new covered lives.
- The company reported Q3 revenue of $122.3 million (+24% y/y), in-line with guidance of $120–130 million. EPS grew 240% y/y to $0.17, 183% ahead of consensus of $0.06. Progyny expects 2021 revenue growth of 47–49% y/y.
- Investors can add to positions as Progyny is expected to be on a high growth trajectory as the company is still just 2% penetrated in its addressable market of 8,000 self-insured employers in the U.S., leaving enough growth opportunity.
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Tina Banerjee
Global Healthcare Analyst
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