Phreesia (NYSE:PHR) Earns “Buy” Rating from Needham & Company LLC

Phreesia (NYSE:PHR)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research report issued on Friday,Benzinga reports. They presently have a $29.00 price objective on the stock. Needham & Company LLC’s target price points to a potential upside of 8.41% from the company’s previous close.

PHR has been the subject of several other reports. Royal Bank of Canada upgraded Phreesia from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $24.00 to $32.00 in a report on Wednesday. JMP Securities restated a “market outperform” rating and set a $30.00 target price on shares of Phreesia in a report on Tuesday, December 10th. KeyCorp increased their price objective on Phreesia from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday. Robert W. Baird dropped their price objective on Phreesia from $34.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. Finally, Truist Financial increased their price objective on Phreesia from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $31.00.

Phreesia Price Performance

Shares of Phreesia stock opened at $26.75 on Friday. The firm has a market capitalization of $1.55 billion, a PE ratio of -18.20 and a beta of 0.94. Phreesia has a 12 month low of $17.07 and a 12 month high of $29.16. The business’s 50-day moving average price is $22.87 and its 200-day moving average price is $22.63. The company has a current ratio of 1.74, a quick ratio of 1.77 and a debt-to-equity ratio of 0.04.

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

Insider Activity

In related news, General Counsel Allison C. Hoffman sold 3,982 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $26.61, for a total transaction of $105,961.02. Following the completion of the transaction, the general counsel now owns 159,137 shares of the company’s stock, valued at $4,234,635.57. This trade represents a 2.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Evan Roberts sold 2,681 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $27.95, for a total value of $74,933.95. Following the transaction, the chief operating officer now directly owns 769,993 shares of the company’s stock, valued at approximately $21,521,304.35. This trade represents a 0.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 104,384 shares of company stock worth $2,418,475 in the last quarter. 5.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PHR. International Assets Investment Management LLC increased its holdings in shares of Phreesia by 2,179.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,459 shares of the company’s stock worth $33,000 after purchasing an additional 1,395 shares in the last quarter. Lombard Odier Asset Management USA Corp bought a new stake in shares of Phreesia in the 2nd quarter worth $202,000. Point72 DIFC Ltd bought a new stake in shares of Phreesia in the 2nd quarter worth $209,000. XTX Topco Ltd bought a new stake in shares of Phreesia in the 3rd quarter worth $247,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Phreesia in the 2nd quarter worth $301,000. 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.