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

Phreesia (NYSE:PHR)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a report released on Thursday,Benzinga reports. They currently have a $29.00 price objective on the stock. Needham & Company LLC’s price target would indicate a potential upside of 14.31% from the stock’s previous close.

Several other analysts have also recently weighed in on PHR. JMP Securities reaffirmed a “market outperform” rating and set a $30.00 price objective on shares of Phreesia in a research report on Tuesday, December 10th. Royal Bank of Canada raised Phreesia from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $24.00 to $32.00 in a research report on Wednesday, January 8th. Truist Financial lifted their price objective on Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. KeyCorp boosted their price target on Phreesia from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Finally, Citigroup boosted their price target on Phreesia from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $31.23.

Phreesia Stock Performance

Phreesia stock opened at $25.37 on Thursday. The stock’s 50 day simple moving average is $27.31 and its two-hundred day simple moving average is $23.99. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.74 and a current ratio of 1.74. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -17.26 and a beta of 1.03. Phreesia has a fifty-two week low of $17.07 and a fifty-two week high of $30.53.

Insider Buying and Selling

In other Phreesia news, SVP Amy Beth Vanduyn sold 1,311 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $26.61, for a total transaction of $34,885.71. Following the completion of the sale, the senior vice president now directly owns 115,633 shares in the company, valued at approximately $3,076,994.13. The trade was a 1.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Balaji Gandhi sold 3,195 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $26.61, for a total transaction of $85,018.95. Following the sale, the chief financial officer now owns 148,509 shares of the company’s stock, valued at approximately $3,951,824.49. This represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 163,322 shares of company stock worth $4,631,915 in the last three months. Insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Phreesia

A number of hedge funds have recently added to or reduced their stakes in PHR. Invesco Ltd. increased its stake in shares of Phreesia by 0.9% in the 4th quarter. Invesco Ltd. now owns 40,249 shares of the company’s stock worth $1,013,000 after purchasing an additional 357 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in Phreesia by 12.1% in the 4th quarter. NewEdge Advisors LLC now owns 4,256 shares of the company’s stock worth $107,000 after buying an additional 459 shares during the period. Johnson Financial Group Inc. boosted its holdings in Phreesia by 381.3% in the 4th quarter. Johnson Financial Group Inc. now owns 1,131 shares of the company’s stock worth $28,000 after buying an additional 896 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Phreesia by 3.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 27,935 shares of the company’s stock worth $637,000 after buying an additional 905 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in Phreesia by 3.8% in the 3rd quarter. MetLife Investment Management LLC now owns 30,781 shares of the company’s stock worth $701,000 after buying an additional 1,120 shares during the period. 92.10% of the stock is currently owned by hedge funds and other institutional investors.

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.