Screened 2026-09-15 · the tape above runs as of 21:00 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
The Label · The Season, Not the Day
This name holds its accumulation label.
Progyny, Inc. holds its Accumulation at $27.76. Consolidating, no directional conviction, held for 13 days.
As held on the ledger · 2026-09-15
Phase
Accumulation
Quantitative state
Consolidating, no directional conviction, held for 13 days
Price at the screen
$27.76
Valuation
30.17 trailing · 11.97 forward price to earnings
Values screen
PASS· score 70.0
Beta
0.99
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
3.73%
Below 33%
Interest-bearing debt is just 3.7% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
26.65%
Below 33%
Cash held in interest-bearing accounts and securities is 26.6% of assets, under the one-third limit.
Pass
Receivables
44.79%
Below 49%
Money owed to the company is 44.8% of assets, under the 49% limit.
Pass
Revenue purity
0.79%
Below 5%
Only 0.8% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
Fair value range in USD, drawn from the 2026-09-15 screen. The gold marker is the market price at the same screen. A 44.1% margin of safety to the base estimate.
Third-party analyst targets: 12 covering, consensus Strong Buy. The average target sits +26% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-15 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Fertility Benefits With Almost No Growth Left
Every couple navigating IVF knows the relief of a benefits plan that covers the real costs without endless paperwork. Progyny built its business on exactly that, packaging fertility care into employer plans that once grew fast. Today the numbers tell a different story: revenue up just 1 percent, a 5 percent profit margin and forward earnings at 14 times. Our fair value sits only a shade above the current price, which is why the opportunity rating stays at none despite clearing the ethical screen.
Analysts still cluster around a strong buy label and a 31 dollar median target that sits below today's level. The 15 percent return on equity looks respectable on paper, yet the lack of top-line momentum removes any real margin of safety once you strip away the label. A business that used to compound quickly now drifts sideways in a crowded healthcare benefits market.
Currency and regulatory shifts around reproductive care add the usual sector volatility, while thin margins leave little room for execution slips. The setup is stable but uncompelling at current levels. Analysis, not advice.
The risks · The things to watch: it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
PGNY trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-09-09Markdown · changed$25.86-19.0%Entry 5
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 19.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are up 16%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (11 analysts) rates it strong buy, with a mean price target of $30.
The framework has shifted from markup to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 19.9% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are up 16%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (11 analysts) rates it strong buy, with a mean price target of $30.
2026-07-18Markup$26.63+0.0%Entry 3
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are up 16%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (11 analysts) rates it strong buy, with a mean price target of $30.
2026-07-03Markup$26.63+0.0%Entry 2
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
2026-07-02Markup$26.63Entry 1
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
