Phreesia (NYSE:PHR) Raised to Outperform at Royal Bank of Canada

Phreesia (NYSE:PHR) was upgraded by investment analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a report released on Wednesday, MarketBeat.com reports. The brokerage currently has a $32.00 price objective on the stock, up from their previous price objective of $24.00. Royal Bank of Canada’s price target suggests a potential upside of 12.60% from the company’s previous close.

A number of other brokerages also recently weighed in on PHR. Needham & Company LLC reaffirmed a “buy” rating and issued a $29.00 target price on shares of Phreesia in a report on Tuesday, December 10th. Robert W. Baird dropped their price objective on Phreesia from $34.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. Truist Financial lifted their target price on Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, JMP Securities reissued a “market outperform” rating and issued a $30.00 target price on shares of Phreesia in a report on Tuesday, December 10th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $30.64.

Phreesia Stock Up 5.3 %

PHR stock opened at $28.42 on Wednesday. Phreesia has a 52 week low of $17.07 and a 52 week high of $29.16. The business has a 50-day simple moving average of $22.70 and a 200 day simple moving average of $22.57. The company has a quick ratio of 1.77, a current ratio of 1.74 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.65 billion, a PE ratio of -19.33 and a beta of 0.94.

Phreesia (NYSE:PHR) last issued its earnings results on Monday, December 9th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.04. The company had revenue of $106.80 million during the quarter, compared to analysts’ expectations of $106.33 million. Phreesia had a negative net margin of 20.43% and a negative return on equity of 32.78%. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.58) EPS. Sell-side analysts anticipate that Phreesia will post -1.16 EPS for the current fiscal year.

Insider Transactions at Phreesia

In other Phreesia news, General Counsel Allison C. Hoffman sold 1,212 shares of Phreesia stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $21.03, for a total transaction of $25,488.36. Following the transaction, the general counsel now directly owns 119,791 shares of the company’s stock, valued at approximately $2,519,204.73. The trade was a 1.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Yvonne Hui sold 2,791 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $20.92, for a total value of $58,387.72. Following the completion of the sale, the insider now owns 27,228 shares in the company, valued at $569,609.76. This trade represents a 9.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,703 shares of company stock worth $2,343,541. Insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Phreesia

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Trust Point Inc. increased its position in Phreesia by 3.5% during the 3rd quarter. Trust Point Inc. now owns 17,887 shares of the company’s stock valued at $408,000 after purchasing an additional 607 shares during the period. Ensign Peak Advisors Inc increased its position in shares of Phreesia by 3.2% during the second quarter. Ensign Peak Advisors Inc now owns 22,491 shares of the company’s stock worth $477,000 after buying an additional 700 shares during the period. Rhumbline Advisers increased its position in shares of Phreesia by 1.0% during the second quarter. Rhumbline Advisers now owns 82,136 shares of the company’s stock worth $1,741,000 after buying an additional 853 shares during the period. The Manufacturers Life Insurance Company raised its stake in Phreesia by 3.3% during the third quarter. The Manufacturers Life Insurance Company now owns 27,935 shares of the company’s stock worth $637,000 after buying an additional 905 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in Phreesia by 3.8% in the third quarter. MetLife Investment Management LLC now owns 30,781 shares of the company’s stock valued at $701,000 after buying an additional 1,120 shares during the period. 92.10% of the stock is owned by institutional investors and hedge funds.

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.