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

Phreesia (NYSE:PHR) had its target price lifted by Citigroup from $31.00 to $35.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 30.84% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Robert W. Baird decreased their price objective on shares of Phreesia from $34.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $29.00 price target on shares of Phreesia in a research note on Friday. Truist Financial boosted their price objective on Phreesia from $31.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Royal Bank of Canada upgraded Phreesia from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $24.00 to $32.00 in a research report on Wednesday. Finally, JMP Securities reiterated a “market outperform” rating and set a $30.00 price target on shares of Phreesia in a research report on Tuesday, December 10th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat.com, Phreesia currently has an average rating of “Buy” and a consensus price target of $31.00.

Phreesia Stock Performance

Shares of PHR opened at $26.75 on Friday. Phreesia has a 12 month low of $17.07 and a 12 month high of $29.16. The company has a current ratio of 1.74, a quick ratio of 1.77 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.55 billion, a price-to-earnings ratio of -18.20 and a beta of 0.94. The business’s fifty day simple moving average is $22.87 and its two-hundred day simple moving average is $22.63.

Phreesia (NYSE:PHR) last issued its quarterly earnings results on Monday, December 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.04. The company had revenue of $106.80 million for the quarter, compared to the consensus estimate of $106.33 million. Phreesia had a negative return on equity of 32.78% and a negative net margin of 20.43%. Phreesia’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.58) earnings per share. Research analysts anticipate that Phreesia will post -1.16 earnings per share for the current fiscal year.

Insider Activity

In other news, General Counsel Allison C. Hoffman sold 1,212 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $21.03, for a total transaction of $25,488.36. Following the sale, the general counsel now owns 119,791 shares of the company’s stock, valued at approximately $2,519,204.73. This represents a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chaim Indig sold 3,089 shares of Phreesia stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $21.03, for a total value of $64,961.67. Following the completion of the transaction, the chief executive officer now owns 1,220,647 shares of the company’s stock, valued at approximately $25,670,206.41. This trade represents a 0.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 104,384 shares of company stock valued at $2,418,475 in the last quarter. Insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Phreesia

A number of hedge funds have recently bought and sold shares of PHR. International Assets Investment Management LLC increased its stake in shares of Phreesia by 2,179.7% during the third quarter. International Assets Investment Management LLC now owns 1,459 shares of the company’s stock worth $33,000 after buying an additional 1,395 shares during the period. Lombard Odier Asset Management USA Corp acquired a new position in shares of Phreesia during the second quarter worth $202,000. Point72 DIFC Ltd acquired a new position in shares of Phreesia during the second quarter worth $209,000. XTX Topco Ltd purchased a new position in Phreesia in the third quarter valued at $247,000. Finally, Hsbc Holdings PLC acquired a new stake in Phreesia in the second quarter valued at $301,000. Institutional investors and hedge funds own 92.10% of the company’s stock.

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.