Phreesia’s (PHR) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Phreesia (NYSE:PHR) in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a $29.00 target price on the stock.

Other research analysts have also issued research reports about the company. Truist Financial increased their target price on Phreesia from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Canaccord Genuity Group reiterated a “buy” rating and issued a $34.00 target price on shares of Phreesia in a research report on Thursday, September 5th. JPMorgan Chase & Co. upped their price target on shares of Phreesia from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $23.00 price target on shares of Phreesia in a research note on Friday, September 27th. Finally, Robert W. Baird boosted their price objective on Phreesia from $31.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $29.33.

Phreesia Stock Down 0.9 %

PHR stock opened at $24.55 on Tuesday. Phreesia has a one year low of $17.07 and a one year high of $29.16. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The firm’s fifty day moving average is $20.34 and its 200 day moving average is $21.78. The firm has a market cap of $1.42 billion, a PE ratio of -13.64 and a beta of 0.98.

Phreesia (NYSE:PHR) last posted its earnings results on Monday, December 9th. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.04. The firm had revenue of $106.80 million for the quarter, compared to analysts’ expectations of $106.33 million. Phreesia had a negative return on equity of 39.34% and a negative net margin of 25.73%. The company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period last year, the firm earned ($0.58) EPS. On average, research analysts forecast that Phreesia will post -1.23 EPS for the current year.

Insider Activity at Phreesia

In related news, insider Yvonne Hui sold 2,791 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $20.92, for a total value of $58,387.72. Following the completion of the sale, the insider now owns 27,228 shares of the company’s stock, valued at approximately $569,609.76. This represents a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Allison C. Hoffman sold 1,212 shares of Phreesia stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $21.03, for a total transaction of $25,488.36. Following the transaction, the general counsel now directly owns 119,791 shares in the company, valued at $2,519,204.73. This trade represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,569 shares of company stock valued at $1,123,014. 5.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. lifted its stake in shares of Phreesia by 3.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,497,631 shares of the company’s stock valued at $31,495,000 after purchasing an additional 42,973 shares during the last quarter. Geode Capital Management LLC raised its holdings in Phreesia by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,245,797 shares of the company’s stock valued at $28,397,000 after buying an additional 55,934 shares during the period. M&T Bank Corp raised its holdings in Phreesia by 4.6% in the 3rd quarter. M&T Bank Corp now owns 35,127 shares of the company’s stock valued at $801,000 after buying an additional 1,535 shares during the period. Barclays PLC lifted its position in Phreesia by 83.6% in the third quarter. Barclays PLC now owns 94,929 shares of the company’s stock valued at $2,163,000 after buying an additional 43,225 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in Phreesia during the third quarter worth about $247,000. 92.10% of the stock is currently owned by hedge funds and other institutional investors.

Phreesia Company Profile

Phreesia, Inc provides an integrated SaaS-based software and payment platform for the healthcare industry in the United States and Canada. The company offers access solutions that offers appointment scheduling system for online appointments, reminders, and referral tracking management; registration solution to automate patient self-registration; revenue cycle solution, which offer insurance-verification processes, point-of-sale payments applications, post-visit payment collection, and flexible payment options; and network connect solution to deliver clinically relevant content to patients.