Phreesia (NYSE:PHR) Stock Price Expected to Rise, KeyCorp Analyst Says

Phreesia (NYSE:PHR) had its price objective raised by KeyCorp from $28.00 to $30.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price target points to a potential upside of 5.56% from the stock’s previous close.

Several other brokerages have also weighed in on PHR. Royal Bank of Canada upgraded Phreesia from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $24.00 to $32.00 in a research note on Wednesday. Robert W. Baird reduced their target price on Phreesia from $34.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Needham & Company LLC reiterated a “buy” rating and set a $29.00 target price on shares of Phreesia in a research report on Tuesday, December 10th. Truist Financial boosted their price target on shares of Phreesia from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $30.00 price objective on shares of Phreesia in a report on Tuesday, December 10th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $30.64.

Phreesia Stock Performance

Shares of PHR stock opened at $28.42 on Wednesday. Phreesia has a 52-week low of $17.07 and a 52-week high of $29.16. The company has a quick ratio of 1.77, a current ratio of 1.74 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.65 billion, a PE ratio of -19.33 and a beta of 0.94. The business has a 50-day simple moving average of $22.70 and a 200-day simple moving average of $22.57.

Phreesia (NYSE:PHR) last posted its earnings results on Monday, December 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.04. The firm had revenue of $106.80 million during the quarter, compared to analysts’ expectations of $106.33 million. Phreesia had a negative net margin of 20.43% and a negative return on equity of 32.78%. The business’s revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.58) EPS. On average, equities analysts expect that Phreesia will post -1.16 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel Allison C. Hoffman sold 1,212 shares of Phreesia stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $21.03, for a total value of $25,488.36. Following the completion of the sale, the general counsel now owns 119,791 shares in the company, valued at approximately $2,519,204.73. This trade represents a 1.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Yvonne Hui sold 2,791 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $20.92, for a total value of $58,387.72. Following the transaction, the insider now owns 27,228 shares in the company, valued at $569,609.76. This trade represents a 9.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,703 shares of company stock valued at $2,343,541. 5.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Phreesia

Several large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its position in Phreesia by 2,179.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,459 shares of the company’s stock valued at $33,000 after purchasing an additional 1,395 shares in the last quarter. Lombard Odier Asset Management USA Corp acquired a new stake in Phreesia in the second quarter valued at approximately $202,000. Point72 DIFC Ltd purchased a new position in Phreesia in the second quarter worth approximately $209,000. XTX Topco Ltd acquired a new position in Phreesia during the 3rd quarter worth approximately $247,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Phreesia in the 2nd quarter valued at approximately $301,000. 92.10% of the stock is owned by hedge funds and other institutional investors.

About Phreesia

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.