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I know that each time a .jpg file is saved, it is compressed and loses quality.

Is the same true for .png files?

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While being compressed a png image still is lossless. If you change parts of your image and re-save the quality of the image is still the same!

Sources:

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    though it depends on how you've saved it. If it was an 8-bit png, and you edit it adding color outside the compressed pallet, colors may shift as it gets resaved. – DA01 Nov 15 '14 at 2:51
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You could. Depends on how you re-save it. I would select png24 8bit. That will keep the quality high.

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