Progyny(PGNY) ZACKS·2025-02-03 18:00Core Viewpoint - Progyny (PGNY) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook based on rising earnings estimates, which significantly influence stock prices [1][2]. Earnings Estimates and Stock Price Movement - The change in earnings estimates is a powerful factor affecting near-term stock price movements, with institutional investors using these estimates to determine fair value [3]. - Progyny's rising earnings estimates and the subsequent rating upgrade suggest an improvement in the company's underlying business, likely leading to an increase in stock price [4]. Zacks Rank System - The Zacks Rank system effectively utilizes earnings estimate revisions to classify stocks into five groups, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have averaged a +25% annual return since 1988 [6]. - The Zacks rating system maintains a balanced distribution of 'buy' and 'sell' ratings, ensuring that only the top 20% of stocks are recognized for superior earnings estimate revisions [8][9]. Specifics on Progyny's Earnings Estimates - For the fiscal year ending December 2024, Progyny is expected to earn $1.57 per share, reflecting a 12.1% increase from the previous year, with a 6.1% rise in the Zacks Consensus Estimate over the past three months [7].