DA Davidson Reaffirms “Neutral” Rating for Phreesia (NYSE:PHR)

DA Davidson reaffirmed their neutral rating on shares of Phreesia (NYSE:PHR) in a research note issued to investors on Friday morning, Benzinga reports. DA Davidson currently has a $32.00 price target on the stock.

Several other analysts have also recently commented on PHR. JMP Securities reiterated a market outperform rating and issued a $28.00 price objective on shares of Phreesia in a research note on Friday. Robert W. Baird raised their target price on shares of Phreesia from $30.00 to $31.00 and gave the company an outperform rating in a report on Monday. Needham & Company LLC restated a buy rating and set a $29.00 target price on shares of Phreesia in a report on Friday. Royal Bank of Canada raised their target price on shares of Phreesia from $17.00 to $23.00 and gave the company a sector perform rating in a report on Friday. Finally, Barclays initiated coverage on shares of Phreesia in a report on Wednesday, January 3rd. They set an overweight rating and a $29.00 target price for the company. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $32.71.

Phreesia Price Performance

Shares of NYSE PHR traded down $0.82 during midday trading on Friday, hitting $22.93. The company had a trading volume of 693,167 shares, compared to its average volume of 545,245. 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 has a twelve month low of $12.05 and a twelve month high of $36.13. The business has a 50-day simple moving average of $25.31 and a two-hundred day simple moving average of $20.99. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -9.10 and a beta of 0.93.

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

Insider Buying and Selling at Phreesia

In other Phreesia news, COO Evan Roberts sold 2,247 shares of Phreesia stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $24.55, for a total transaction of $55,163.85. Following the transaction, the chief operating officer now directly owns 795,613 shares of the company’s stock, valued at $19,532,299.15. The sale was disclosed in a filing with the SEC, which is available at this link. In other Phreesia news, COO Evan Roberts sold 2,247 shares of Phreesia stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $24.55, for a total transaction of $55,163.85. Following the transaction, the chief operating officer now directly owns 795,613 shares of the company’s stock, valued at $19,532,299.15. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Allison C. Hoffman sold 1,316 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $24.55, for a total transaction of $32,307.80. Following the transaction, the general counsel now directly owns 144,464 shares in the company, valued at $3,546,591.20. The disclosure for this sale can be found here. Insiders have sold a total of 9,950 shares of company stock valued at $246,213 over the last ninety days. Corporate insiders own 5.80% of the company’s stock.

Institutional Trading of Phreesia

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Brown Advisory Inc. grew its position in shares of Phreesia by 22.2% during the fourth quarter. Brown Advisory Inc. now owns 3,950,356 shares of the company’s stock worth $91,451,000 after acquiring an additional 716,374 shares during the last quarter. FMR LLC lifted its holdings in Phreesia by 8.6% in the 3rd quarter. FMR LLC now owns 7,856,551 shares of the company’s stock valued at $146,760,000 after acquiring an additional 624,456 shares during the last quarter. Rock Springs Capital Management LP lifted its holdings in Phreesia by 36.1% in the 3rd quarter. Rock Springs Capital Management LP now owns 1,776,391 shares of the company’s stock valued at $33,183,000 after acquiring an additional 471,391 shares during the last quarter. Thrivent Financial for Lutherans purchased a new stake in Phreesia during the second quarter valued at about $13,668,000. Finally, Norges Bank purchased a new stake in Phreesia during the fourth quarter valued at about $8,199,000. Institutional investors own 94.37% of the company’s stock.

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.