Phreesia (NYSE:PHR) Trading 3.9% Higher Following Analyst Upgrade

Phreesia, Inc. (NYSE:PHR) shares traded up 3.9% during trading on Thursday after Canaccord Genuity Group raised their price target on the stock from $34.00 to $35.00. Canaccord Genuity Group currently has a buy rating on the stock. Phreesia traded as high as $24.80 and last traded at $24.74. 334,756 shares were traded during mid-day trading, a decline of 18% from the average session volume of 405,778 shares. The stock had previously closed at $23.80.

Other analysts have also recently issued research reports about the stock. Citigroup boosted their target price on shares of Phreesia from $31.00 to $35.00 and gave the company a “buy” rating in a report on Friday, January 10th. JMP Securities reiterated a “market outperform” rating and issued a $30.00 price target on shares of Phreesia in a research note on Tuesday, December 10th. Royal Bank of Canada upgraded Phreesia from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $24.00 to $32.00 in a research note on Wednesday, January 8th. Truist Financial raised their target price on Phreesia from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Needham & Company LLC restated a “buy” rating and set a $29.00 price objective on shares of Phreesia in a research report on Thursday. Thirteen research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $31.23.

Insider Activity

In related news, SVP Amy Beth Vanduyn sold 1,311 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $26.61, for a total value of $34,885.71. Following the transaction, the senior vice president now directly owns 115,633 shares of the company’s stock, valued at $3,076,994.13. This represents a 1.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Allison C. Hoffman sold 3,495 shares of Phreesia stock in a transaction dated 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 directly owns 116,296 shares of the company’s stock, valued at approximately $2,893,444.48. This represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 163,322 shares of company stock worth $4,631,915 over the last 90 days. 5.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Phreesia

Several hedge funds and other institutional investors have recently bought and sold shares of PHR. Johnson Financial Group Inc. boosted its holdings in shares of Phreesia by 381.3% in the 4th quarter. Johnson Financial Group Inc. now owns 1,131 shares of the company’s stock valued at $28,000 after acquiring an additional 896 shares during the last quarter. R Squared Ltd purchased a new stake in Phreesia in the fourth quarter valued at $30,000. BankPlus Trust Department acquired a new stake in Phreesia during the 4th quarter worth about $34,000. Quarry LP raised its stake in shares of Phreesia by 210.9% during the 4th quarter. Quarry LP now owns 2,835 shares of the company’s stock valued at $71,000 after buying an additional 1,923 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in shares of Phreesia in the 4th quarter valued at about $76,000. Institutional investors and hedge funds own 92.10% of the company’s stock.

Phreesia Stock Up 7.1 %

The stock has a market cap of $1.48 billion, a PE ratio of -17.34 and a beta of 1.03. The business has a 50 day moving average price of $27.32 and a 200 day moving average price of $24.00. 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 (NYSE:PHR) last released its quarterly earnings data on Monday, December 9th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.04. Phreesia had a negative return on equity of 32.78% and a negative net margin of 20.43%. The business had revenue of $106.80 million for the quarter, compared to analyst estimates of $106.33 million. During the same quarter in the prior year, the firm posted ($0.58) EPS. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. Equities research analysts expect that Phreesia, Inc. will post -1.1 EPS for the current fiscal year.

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.