Phreesia’s (PHR) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Phreesia (NYSE:PHR) in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a $29.00 price target on the stock.

Several other equities research analysts have also issued reports on the stock. Robert W. Baird reduced their price objective on shares of Phreesia from $34.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. JMP Securities reiterated a “market outperform” rating and set a $30.00 price target on shares of Phreesia in a research note on Tuesday, December 10th. Truist Financial boosted their target price on Phreesia from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. KeyCorp lifted their price target on shares of Phreesia from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada upgraded shares of Phreesia from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $24.00 to $32.00 in a report on Wednesday, January 8th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $31.00.

Phreesia Price Performance

Shares of NYSE:PHR opened at $26.75 on Friday. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -18.20 and a beta of 0.94. Phreesia has a 1 year low of $17.07 and a 1 year high of $29.16. The company has a current ratio of 1.74, a quick ratio of 1.77 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $22.87 and a 200 day simple moving average of $22.63.

Phreesia (NYSE:PHR) last announced its quarterly 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 during the quarter, compared to analyst estimates of $106.33 million. Phreesia had a negative return on equity of 32.78% and a negative net margin of 20.43%. The firm’s revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.58) EPS. As a group, sell-side analysts predict that Phreesia will post -1.16 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Chaim Indig sold 3,089 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $21.03, for a total value of $64,961.67. Following the sale, the chief executive officer now owns 1,220,647 shares in the company, valued at approximately $25,670,206.41. The trade was a 0.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Yvonne Hui sold 2,791 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $20.92, for a total transaction of $58,387.72. Following the sale, the insider now directly owns 27,228 shares of the company’s stock, valued at approximately $569,609.76. The trade was a 9.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 104,384 shares of company stock worth $2,418,475. 5.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Phreesia

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

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.