Phreesia (NYSE:PHR) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Phreesia (NYSE:PHR) had its target price lifted by investment analysts at Canaccord Genuity Group from $34.00 to $35.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 37.96% from the stock’s previous close.

PHR has been the subject of several other research reports. Needham & Company LLC reissued a “buy” rating and set a $29.00 price objective on shares of Phreesia in a research report on Thursday. Robert W. Baird lowered their price objective on Phreesia from $34.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. Piper Sandler reissued an “overweight” rating and set a $33.00 price objective (up previously from $31.00) on shares of Phreesia in a research report on Wednesday, January 29th. Citigroup raised their price objective on Phreesia from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Finally, Royal Bank of Canada raised Phreesia from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $24.00 to $32.00 in a research report on Wednesday, January 8th. Thirteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $31.23.

Phreesia Stock Performance

Shares of PHR stock opened at $25.37 on Thursday. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -17.26 and a beta of 1.03. The stock has a fifty day moving average of $27.31 and a 200 day moving average of $23.99. Phreesia has a 52 week low of $17.07 and a 52 week high of $30.53.

Insiders Place Their Bets

In other Phreesia news, CFO Balaji Gandhi sold 3,195 shares of Phreesia stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $26.61, for a total value of $85,018.95. Following the sale, the chief financial officer now owns 148,509 shares of the company’s stock, valued at $3,951,824.49. The trade was a 2.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Allison C. Hoffman sold 3,495 shares of Phreesia stock in a transaction that occurred 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 completion of the sale, the general counsel now directly owns 116,296 shares in the company, valued at approximately $2,893,444.48. The trade was a 2.92 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 163,322 shares of company stock valued at $4,631,915. Insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Phreesia

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Phreesia by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 4,823,110 shares of the company’s stock valued at $121,349,000 after acquiring an additional 61,048 shares during the last quarter. Greenhouse Funds LLLP grew its position in Phreesia by 27.9% in the 4th quarter. Greenhouse Funds LLLP now owns 2,873,892 shares of the company’s stock valued at $72,307,000 after acquiring an additional 626,579 shares during the last quarter. Champlain Investment Partners LLC grew its position in Phreesia by 4.1% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,503,837 shares of the company’s stock valued at $57,062,000 after acquiring an additional 97,847 shares during the last quarter. Franklin Resources Inc. grew its position in Phreesia by 0.8% in the 4th quarter. Franklin Resources Inc. now owns 1,509,617 shares of the company’s stock valued at $37,982,000 after acquiring an additional 11,986 shares during the last quarter. Finally, State Street Corp grew its position in Phreesia by 7.1% in the 3rd quarter. State Street Corp now owns 1,327,586 shares of the company’s stock valued at $30,256,000 after acquiring an additional 88,517 shares during the last quarter. Institutional investors 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.