Truist Financial Reiterates “Buy” Rating for Phreesia (NYSE:PHR)

Phreesia (NYSE:PHR)‘s stock had its “buy” rating reissued by equities research analysts at Truist Financial in a report released on Monday, Benzinga reports. They currently have a $29.00 target price on the stock. Truist Financial’s target price suggests a potential upside of 41.60% from the company’s previous close.

Other analysts have also issued research reports about the stock. DA Davidson reiterated a “neutral” rating and set a $32.00 price target on shares of Phreesia in a research report on Friday, March 15th. Stephens reissued an “overweight” rating and issued a $28.00 price objective on shares of Phreesia in a research note on Friday, May 31st. Royal Bank of Canada reissued a “sector perform” rating and issued a $23.00 price objective on shares of Phreesia in a research note on Thursday, March 21st. Raymond James reissued an “outperform” rating and issued a $30.00 price objective (up previously from $25.00) on shares of Phreesia in a research note on Friday, March 15th. Finally, JMP Securities reissued a “market outperform” rating and issued a $30.00 price objective on shares of Phreesia in a research note on Friday, May 31st. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.92.

Phreesia Stock Down 0.9 %

Shares of PHR opened at $20.48 on Monday. Phreesia has a 52 week low of $12.05 and a 52 week high of $34.98. The firm has a market cap of $1.18 billion, a P/E ratio of -9.44 and a beta of 0.93. The firm’s 50-day simple moving average is $21.28 and its 200 day simple moving average is $23.21. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.76 and a current ratio of 1.76.

Phreesia (NYSE:PHR) last announced its earnings results on Thursday, May 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.16. Phreesia had a negative net margin of 31.87% and a negative return on equity of 46.89%. The firm had revenue of $101.20 million for the quarter, compared to analyst estimates of $100.94 million. During the same quarter in the prior year, the business posted ($0.70) EPS. The business’s revenue was up 20.8% compared to the same quarter last year. On average, analysts forecast that Phreesia will post -1.18 earnings per share for the current year.

Insider Transactions at Phreesia

In other news, CFO Balaji Gandhi sold 7,778 shares of Phreesia stock in a transaction on Monday, April 8th. The shares were sold at an average price of $22.62, for a total transaction of $175,938.36. Following the transaction, the chief financial officer now owns 98,178 shares in the company, valued at $2,220,786.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Phreesia news, CEO Chaim Indig sold 3,392 shares of Phreesia stock in a transaction on Monday, April 15th. The shares were sold at an average price of $22.86, for a total value of $77,541.12. Following the completion of the sale, the chief executive officer now directly owns 1,222,005 shares of the company’s stock, valued at $27,935,034.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Balaji Gandhi sold 7,778 shares of Phreesia stock in a transaction on Monday, April 8th. The shares were sold at an average price of $22.62, for a total transaction of $175,938.36. Following the completion of the sale, the chief financial officer now directly owns 98,178 shares of the company’s stock, valued at $2,220,786.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,359 shares of company stock worth $1,141,645. Company insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Phreesia

Several hedge funds and other institutional investors have recently made changes to their positions in PHR. International Assets Investment Management LLC lifted its stake in Phreesia by 1,987.3% in the 4th quarter. International Assets Investment Management LLC now owns 1,482 shares of the company’s stock worth $34,000 after purchasing an additional 1,411 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Phreesia in the 3rd quarter worth $53,000. Russell Investments Group Ltd. increased its holdings in shares of Phreesia by 5,462.3% in the 4th quarter. Russell Investments Group Ltd. now owns 3,838 shares of the company’s stock worth $89,000 after buying an additional 3,769 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of Phreesia in the 1st quarter worth $169,000. Finally, Quadrature Capital Ltd bought a new position in shares of Phreesia during the 1st quarter valued at $202,000. 92.10% of the stock is owned by 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. 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.