Phreesia (NYSE:PHR) Price Target Raised to $30.00

Phreesia (NYSE:PHR) had its price objective increased by KeyCorp from $28.00 to $30.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages also recently weighed in on PHR. JMP Securities reiterated a “market outperform” rating and issued a $30.00 price objective on shares of Phreesia in a research report on Tuesday, December 10th. Truist Financial boosted their price objective on Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Robert W. Baird lowered 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. Needham & Company LLC reiterated a “buy” rating and issued a $29.00 price objective on shares of Phreesia in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada upgraded Phreesia from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $24.00 to $32.00 in a research report on Wednesday. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $31.00.

Phreesia Stock Down 5.9 %

Shares of PHR opened at $26.75 on Wednesday. The firm has a market cap of $1.55 billion, a P/E ratio of -18.20 and a beta of 0.94. The stock has a 50 day simple moving average of $22.87 and a two-hundred day simple moving average of $22.62. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.74 and a quick ratio of 1.77. Phreesia has a 1 year low of $17.07 and a 1 year high of $29.16.

Phreesia (NYSE:PHR) last issued its earnings results on Monday, December 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.04. Phreesia had a negative return on equity of 32.78% and a negative net margin of 20.43%. The business had revenue of $106.80 million during the quarter, compared to analyst estimates of $106.33 million. During the same quarter in the prior year, the firm earned ($0.58) earnings per share. Phreesia’s revenue for the quarter was up 16.6% on a year-over-year basis. On average, analysts forecast that Phreesia will post -1.16 earnings per share for the current fiscal year.

Insider Activity at Phreesia

In other Phreesia news, General Counsel Allison C. Hoffman sold 1,212 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $21.03, for a total value 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. This trade represents a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Amy Beth Vanduyn sold 25,447 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $20.93, for a total value of $532,605.71. Following the completion of the transaction, the senior vice president now directly owns 93,470 shares in the company, valued at $1,956,327.10. This trade represents a 21.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,384 shares of company stock valued at $2,418,475 over the last ninety days. Insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Versor Investments LP bought a new stake in Phreesia during the 3rd quarter valued at approximately $694,000. Zacks Investment Management bought a new stake in Phreesia during the 3rd quarter valued at approximately $631,000. Sei Investments Co. raised its stake in Phreesia by 135.3% during 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 raised its stake in Phreesia by 7.1% during 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. Finally, Barclays PLC raised its stake in Phreesia by 83.6% during the 3rd quarter. Barclays PLC now owns 94,929 shares of the company’s stock valued at $2,163,000 after purchasing an additional 43,225 shares during the period. Institutional investors own 92.10% 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. 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.