Phreesia’s (PHR) Buy Rating Reaffirmed at Needham & Company LLC

Phreesia (NYSE:PHR)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports. They presently have a $29.00 target price on the stock. Needham & Company LLC’s price objective indicates a potential upside of 21.08% from the company’s current price.

A number of other brokerages have also recently weighed in on PHR. 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. Piper Sandler reiterated an “overweight” rating and issued a $33.00 target price (up previously from $31.00) on shares of Phreesia in a report on Wednesday, January 29th. JMP Securities restated 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 lifted their price objective on Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada raised Phreesia from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $24.00 to $32.00 in a research note on Wednesday, January 8th. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat, Phreesia currently has an average rating of “Buy” and an average price target of $31.15.

Phreesia Trading Up 3.1 %

PHR opened at $23.95 on Thursday. The stock has a market capitalization of $1.39 billion, a PE ratio of -16.29 and a beta of 1.03. Phreesia has a one year low of $17.07 and a one year high of $30.53. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.74 and a current ratio of 1.74. The business’s 50 day moving average price is $27.32 and its 200 day moving average price is $23.99.

Phreesia (NYSE:PHR) last released its quarterly earnings results on Monday, December 9th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.04. The business had revenue of $106.80 million during 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 company’s revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.58) EPS. As a group, equities research analysts expect that Phreesia will post -1.1 EPS for the current year.

Insider Transactions at Phreesia

In related news, General Counsel Allison C. Hoffman sold 3,495 shares of Phreesia stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $24.88, for a total transaction of $86,955.60. Following the sale, the general counsel now directly owns 116,296 shares in the company, valued at $2,893,444.48. This trade represents a 2.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Balaji Gandhi sold 28,759 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $30.00, for a total transaction of $862,770.00. Following the completion of the sale, the chief financial officer now directly owns 116,174 shares of the company’s stock, valued at approximately $3,485,220. This trade represents a 19.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 183,887 shares of company stock valued at $5,146,862. Insiders own 5.80% of the company’s stock.

Institutional Trading of Phreesia

Several institutional investors and hedge funds have recently made changes to their positions in the company. Johnson Financial Group Inc. increased its position in Phreesia by 381.3% during the fourth quarter. Johnson Financial Group Inc. now owns 1,131 shares of the company’s stock worth $28,000 after buying an additional 896 shares during the period. R Squared Ltd purchased a new position in shares of Phreesia during the fourth quarter worth approximately $30,000. BankPlus Trust Department acquired a new position in shares of Phreesia in the 4th quarter valued at $34,000. Quarry LP raised its position in Phreesia by 210.9% in the 4th quarter. Quarry LP now owns 2,835 shares of the company’s stock valued at $71,000 after purchasing an additional 1,923 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in Phreesia during the 4th quarter worth $76,000. 92.10% of the stock is owned by hedge funds and other 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.