Phreesia (NYSE:PHR) PT Raised to $23.00

Phreesia (NYSE:PHR) had its target price raised by equities research analysts at Royal Bank of Canada from $17.00 to $23.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 0.31% from the stock’s previous close.

PHR has been the topic of a number of other reports. JMP Securities dropped their price objective on shares of Phreesia from $39.00 to $28.00 and set a “market outperform” rating on the stock in a report on Wednesday, December 6th. KeyCorp dropped their price target on Phreesia from $40.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, December 7th. DA Davidson raised shares of Phreesia from a “neutral” rating to a “buy” rating and raised their price target for the stock from $30.00 to $32.00 in a research report on Wednesday, January 17th. Truist Financial initiated coverage on shares of Phreesia in a report on Monday, February 26th. They issued a “buy” rating and a $35.00 price target on the stock. Finally, Raymond James reduced their price objective on Phreesia from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Thursday, December 7th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.71.

Phreesia Stock Down 3.5 %

Shares of NYSE PHR traded down $0.82 during trading hours on Friday, hitting $22.93. 693,167 shares of the stock were exchanged, compared to its average volume of 545,245. Phreesia has a 12 month low of $12.05 and a 12 month high of $36.13. The firm has a fifty day moving average price of $25.31 and a 200-day moving average price of $20.99. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.03. The company has a market cap of $1.28 billion, a PE ratio of -9.10 and a beta of 0.93.

Phreesia (NYSE:PHR) last announced its earnings results on Thursday, March 14th. The company reported ($0.56) earnings per share for the quarter, topping the consensus estimate of ($0.58) by $0.02. The firm had revenue of $95.00 million for the quarter, compared to the consensus estimate of $93.52 million. Phreesia had a negative return on equity of 52.97% and a negative net margin of 38.42%. The firm’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.72) EPS. On average, sell-side analysts expect that Phreesia will post -1.47 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Allison C. Hoffman sold 1,316 shares of the firm’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 $32,307.80. Following the transaction, the general counsel now directly owns 144,464 shares of the company’s stock, valued at $3,546,591.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, General Counsel Allison C. Hoffman sold 1,316 shares of the company’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 value of $32,307.80. Following the completion of the sale, the general counsel now directly owns 144,464 shares in the company, valued at $3,546,591.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Chaim Indig sold 3,586 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $24.55, for a total value of $88,036.30. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold a total of 9,950 shares of company stock valued at $246,213 in the last 90 days. 5.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Phreesia

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. CI Investments Inc. increased its position in shares of Phreesia by 6.6% during the 3rd quarter. CI Investments Inc. now owns 477,265 shares of the company’s stock worth $8,915,000 after purchasing an additional 29,500 shares during the last quarter. Schroder Investment Management Group purchased a new position in Phreesia during the third quarter worth about $6,514,000. TimesSquare Capital Management LLC increased its position in shares of Phreesia by 7.8% during the third quarter. TimesSquare Capital Management LLC now owns 774,079 shares of the company’s stock valued at $14,460,000 after acquiring an additional 55,793 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of Phreesia by 58.6% in the 3rd quarter. Lazard Asset Management LLC now owns 424,047 shares of the company’s stock valued at $7,921,000 after acquiring an additional 156,711 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Phreesia by 5.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 195,275 shares of the company’s stock valued at $3,648,000 after acquiring an additional 9,501 shares during the period. Hedge funds and other 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.