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

Phreesia (NYSE:PHR) had its target price boosted by research analysts at Canaccord Genuity Group from $36.00 to $37.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 61.36% from the stock’s previous close.

PHR has been the subject of several other research reports. Barclays assumed coverage on shares of Phreesia in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $29.00 price target for the company. JMP Securities reiterated a “market outperform” rating and issued a $28.00 price target on shares of Phreesia in a research report on Friday. Royal Bank of Canada upped their price objective on Phreesia from $17.00 to $23.00 and gave the stock a “sector perform” rating in a research note on Friday. Robert W. Baird lifted their target price on Phreesia from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday. Finally, DA Davidson restated a “neutral” rating and issued a $32.00 price target on shares of Phreesia in a research report on Friday. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.71.

Phreesia Stock Performance

Shares of NYSE PHR traded down $0.82 during trading on Friday, reaching $22.93. 693,167 shares of the company traded hands, compared to its average volume of 545,245. The firm has a 50 day simple moving average of $25.31 and a 200-day simple moving average of $20.99. Phreesia has a 52-week low of $12.05 and a 52-week high of $36.13. The stock has a market capitalization of $1.28 billion, a PE ratio of -9.10 and a beta of 0.93. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.03.

Phreesia (NYSE:PHR) last issued its earnings results on Thursday, March 14th. The company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.58) by $0.02. The company had revenue of $95.00 million for 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 quarterly revenue was up 24.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.72) earnings per share. Equities research analysts anticipate that Phreesia will post -1.47 earnings per share for the current year.

Insiders Place Their Bets

In other Phreesia news, CEO Chaim Indig sold 3,586 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $24.55, for a total transaction of $88,036.30. Following the sale, the chief executive officer now directly owns 1,280,410 shares of the company’s stock, valued at $31,434,065.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Chaim Indig sold 3,586 shares of Phreesia stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $24.55, for a total transaction of $88,036.30. Following the completion of the transaction, the chief executive officer now directly owns 1,280,410 shares of the company’s stock, valued at approximately $31,434,065.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Evan Roberts sold 2,247 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $24.55, for a total transaction of $55,163.85. Following the completion of the sale, the chief operating officer now directly owns 795,613 shares in the company, valued at $19,532,299.15. The disclosure for this sale can be found here. Insiders sold 9,950 shares of company stock valued at $246,213 in the last three months. Corporate insiders own 5.80% of the company’s stock.

Institutional Trading of Phreesia

A number of large investors have recently made changes to their positions in PHR. CI Investments Inc. boosted its position in Phreesia by 6.6% in the 3rd quarter. CI Investments Inc. now owns 477,265 shares of the company’s stock valued at $8,915,000 after buying an additional 29,500 shares during the period. Schroder Investment Management Group bought a new stake in Phreesia during the 3rd quarter valued at $6,514,000. TimesSquare Capital Management LLC lifted its holdings in shares of Phreesia by 7.8% in the 3rd quarter. TimesSquare Capital Management LLC now owns 774,079 shares of the company’s stock worth $14,460,000 after buying an additional 55,793 shares during the period. Lazard Asset Management LLC grew its position in shares of Phreesia by 58.6% during the 3rd quarter. Lazard Asset Management LLC now owns 424,047 shares of the company’s stock worth $7,921,000 after buying an additional 156,711 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Phreesia by 5.1% during the third quarter. Bank of New York Mellon Corp now owns 195,275 shares of the company’s stock valued at $3,648,000 after buying an additional 9,501 shares during the period. 94.37% of the stock is owned by hedge funds and other institutional investors.

Phreesia Company Profile

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.