Phreesia’s (PHR) “Overweight” Rating Reiterated at Piper Sandler

Phreesia (NYSE:PHR)‘s stock had its “overweight” rating reissued by analysts at Piper Sandler in a research report issued on Wednesday,Benzinga reports. They presently have a $33.00 price target on the stock, up from their prior price target of $31.00. Piper Sandler’s price target would suggest a potential upside of 13.67% from the company’s previous close.

A number of other equities analysts also recently commented on PHR. Needham & Company LLC reiterated a “buy” rating and issued a $29.00 target price on shares of Phreesia in a report on Friday, January 10th. Royal Bank of Canada upgraded shares of Phreesia from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $24.00 to $32.00 in a research note on Wednesday, January 8th. JMP Securities restated a “market outperform” rating and issued a $30.00 target price on shares of Phreesia in a research note on Tuesday, December 10th. KeyCorp upped 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 raised their price objective on Phreesia from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Thirteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $31.15.

Phreesia Price Performance

NYSE PHR opened at $29.03 on Wednesday. The company has a market cap of $1.69 billion, a PE ratio of -19.75 and a beta of 0.94. The firm’s 50 day moving average price is $24.78 and its 200-day moving average price is $23.24. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.74 and a current ratio of 1.74. Phreesia has a 52-week low of $17.07 and a 52-week high of $29.90.

Phreesia (NYSE:PHR) last announced its earnings results on Monday, December 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.04. The business had revenue of $106.80 million for the quarter, compared to analysts’ expectations of $106.33 million. Phreesia had a negative return on equity of 32.78% and a negative net margin of 20.43%. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.58) EPS. Sell-side analysts forecast that Phreesia will post -1.1 EPS for the current fiscal year.

Insider Buying and Selling at Phreesia

In other Phreesia news, CFO Balaji Gandhi sold 3,195 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 148,509 shares of the company’s stock, valued at approximately $3,951,824.49. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael Weintraub sold 15,152 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $21.01, for a total transaction of $318,343.52. Following the completion of the sale, the director now directly owns 242,827 shares in the company, valued at $5,101,795.27. This trade represents a 5.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 165,653 shares of company stock worth $4,176,464. 5.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Champlain Investment Partners LLC lifted its holdings in Phreesia by 4.1% in the third quarter. Champlain Investment Partners LLC now owns 2,503,837 shares of the company’s stock valued at $57,062,000 after acquiring an additional 97,847 shares during the period. Sei Investments Co. lifted its stake in shares of Phreesia by 135.3% in the 2nd quarter. Sei Investments Co. now owns 165,327 shares of the company’s stock valued at $3,505,000 after purchasing an additional 95,058 shares during the period. State Street Corp lifted its stake in shares of Phreesia by 7.1% in the 3rd quarter. State Street Corp now owns 1,327,586 shares of the company’s stock valued at $30,256,000 after purchasing an additional 88,517 shares during the period. Geode Capital Management LLC boosted its holdings in Phreesia by 4.7% during the third quarter. Geode Capital Management LLC now owns 1,245,797 shares of the company’s stock worth $28,397,000 after buying an additional 55,934 shares in the last quarter. Finally, Barclays PLC grew its position in Phreesia by 83.6% during the third quarter. Barclays PLC now owns 94,929 shares of the company’s stock valued at $2,163,000 after buying an additional 43,225 shares during the period. 92.10% of the stock is currently owned by institutional investors and hedge funds.

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.