Canaccord Genuity Group Boosts Phreesia (NYSE:PHR) Price Target to $37.00

Phreesia (NYSE:PHR) had its price objective upped by Canaccord Genuity Group from $36.00 to $37.00 in a report published on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

PHR has been the subject of several other reports. Barclays began coverage on shares of Phreesia in a research note on Wednesday, January 3rd. They issued an overweight rating and a $29.00 price target for the company. Robert W. Baird raised their price objective on shares of Phreesia from $30.00 to $31.00 and gave the company an outperform rating in a research note on Monday. Truist Financial began coverage on shares of Phreesia in a report on Monday, February 26th. They set a buy rating and a $35.00 price target on the stock. Needham & Company LLC reissued a buy rating and issued a $29.00 price objective on shares of Phreesia in a report on Friday. Finally, Royal Bank of Canada raised their price objective on shares of Phreesia from $17.00 to $23.00 and gave the stock a sector perform rating in a report on Friday. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Phreesia presently has a consensus rating of Moderate Buy and a consensus target price of $32.71.

Phreesia Price Performance

PHR stock traded down $0.82 during midday trading on Friday, reaching $22.93. The company had a trading volume of 693,167 shares, compared to its average volume of 545,245. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.02 and a quick ratio of 2.02. Phreesia has a 1 year low of $12.05 and a 1 year high of $36.13. The company has a market capitalization of $1.28 billion, a P/E ratio of -9.10 and a beta of 0.93. The firm has a 50-day moving average price of $25.31 and a 200-day moving average price of $20.99.

Phreesia (NYSE:PHR) last announced its quarterly earnings data on Thursday, March 14th. The company reported ($0.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.02. The company had revenue of $95.00 million during the quarter, compared to analysts’ expectations of $93.52 million. Phreesia had a negative net margin of 38.42% and a negative return on equity of 52.97%. The firm’s revenue was up 24.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.72) EPS. On average, research analysts anticipate that Phreesia will post -1.47 earnings per share for the current fiscal year.

Insider Activity

In other news, General Counsel Allison C. Hoffman sold 1,316 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $24.55, for a total transaction of $32,307.80. Following the completion of the sale, the general counsel now directly owns 144,464 shares of the company’s stock, valued at $3,546,591.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Evan Roberts sold 2,247 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $24.55, for a total value of $55,163.85. Following the completion of the sale, the chief operating officer now directly owns 795,613 shares of the company’s stock, valued at $19,532,299.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Allison C. Hoffman sold 1,316 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $24.55, for a total transaction of $32,307.80. Following the sale, the general counsel now directly owns 144,464 shares of the company’s stock, valued at $3,546,591.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,950 shares of company stock valued at $246,213. 5.80% of the stock is currently owned by company insiders.

Institutional Trading of Phreesia

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Phreesia by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 4,628,441 shares of the company’s stock valued at $107,148,000 after purchasing an additional 194,035 shares during the last quarter. American International Group Inc. raised its position in Phreesia by 2.3% during the 4th quarter. American International Group Inc. now owns 26,342 shares of the company’s stock worth $610,000 after buying an additional 591 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Phreesia by 56.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 74,595 shares of the company’s stock worth $1,728,000 after buying an additional 26,868 shares during the last quarter. Barclays PLC raised its position in Phreesia by 376.7% during the 4th quarter. Barclays PLC now owns 88,531 shares of the company’s stock worth $2,048,000 after buying an additional 69,959 shares during the last quarter. Finally, Voloridge Investment Management LLC raised its position in Phreesia by 518.9% during the 4th quarter. Voloridge Investment Management LLC now owns 169,413 shares of the company’s stock worth $3,922,000 after buying an additional 142,041 shares during the last quarter. 94.37% of the stock is 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. Its Phreesia Platform offers access solutions that offers appointment scheduling system for online appointments, reminders, and referral tracking; 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.