Phreesia (NYSE:PHR) Earns Overweight Rating from Piper Sandler

Phreesia (NYSE:PHR)‘s stock had its “overweight” rating restated by Piper Sandler in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $33.00 price target on the stock, up from their prior price target of $31.00. Piper Sandler’s price objective points to a potential upside of 13.67% from the stock’s current price.

Several other brokerages have also recently commented on PHR. Citigroup boosted their price target on shares of Phreesia from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. JMP Securities reiterated a “market outperform” rating and issued a $30.00 target price on shares of Phreesia in a research report on Tuesday, December 10th. Royal Bank of Canada upgraded Phreesia from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $24.00 to $32.00 in a report on Wednesday, January 8th. Robert W. Baird decreased their price objective on Phreesia from $34.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $29.00 target price on shares of Phreesia in a report on Friday, January 10th. Thirteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $31.15.

Phreesia Stock Performance

NYSE PHR opened at $29.03 on Wednesday. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.04. Phreesia has a twelve month low of $17.07 and a twelve month high of $29.90. The business has a 50-day moving average price of $24.78 and a 200-day moving average price of $23.24. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -19.75 and a beta of 0.94.

Phreesia (NYSE:PHR) last announced its quarterly earnings data on Monday, December 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.04. Phreesia had a negative net margin of 20.43% and a negative return on equity of 32.78%. The business had revenue of $106.80 million during the quarter, compared to analyst estimates of $106.33 million. During the same period last year, the firm posted ($0.58) EPS. The company’s revenue was up 16.6% on a year-over-year basis. As a group, equities research analysts predict that Phreesia will post -1.1 EPS for the current fiscal year.

Insider Transactions at Phreesia

In other Phreesia news, General Counsel Allison C. Hoffman sold 3,495 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $24.88, for a total value of $86,955.60. Following the sale, the general counsel now owns 116,296 shares in the company, valued at $2,893,444.48. This trade represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Evan Roberts sold 10,716 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $27.48, for a total transaction of $294,475.68. Following the sale, the chief operating officer now directly owns 764,307 shares of the company’s stock, valued at $21,003,156.36. This represents a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 165,653 shares of company stock worth $4,176,464. 5.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PHR. R Squared Ltd bought a new position in Phreesia in the 4th quarter worth about $30,000. International Assets Investment Management LLC boosted its holdings in shares of Phreesia by 2,179.7% in the third 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 during the period. XTX Topco Ltd purchased a new stake in shares of Phreesia in the third quarter valued at approximately $247,000. Hsbc Holdings PLC bought a new position in Phreesia in the second quarter worth approximately $301,000. Finally, Intech Investment Management LLC purchased a new position in Phreesia during the 3rd quarter worth $316,000. Hedge funds and other institutional investors own 92.10% of the company’s stock.

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.