Needham & Company LLC Reiterates “Buy” Rating for Phreesia (NYSE:PHR)

Phreesia (NYSE:PHR)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $29.00 price target on the stock. Needham & Company LLC’s target price would indicate a potential upside of 34.07% from the company’s current price.

A number of other equities analysts have also recently weighed in on PHR. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $34.00 price target on shares of Phreesia in a report on Thursday, September 5th. Truist Financial increased their target price on Phreesia from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Robert W. Baird boosted their price target on shares of Phreesia from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. JMP Securities reaffirmed a “market outperform” rating and set a $30.00 price objective on shares of Phreesia in a report on Thursday, September 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Phreesia from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.42.

Phreesia Trading Down 0.5 %

Shares of NYSE:PHR opened at $21.63 on Tuesday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. Phreesia has a 12-month low of $17.07 and a 12-month high of $29.16. The business has a 50 day moving average of $20.26 and a two-hundred day moving average of $21.75. The company has a market capitalization of $1.25 billion, a PE ratio of -12.02 and a beta of 0.98.

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, topping analysts’ consensus estimates of ($0.29) by $0.04. The firm had revenue of $106.80 million for the quarter, compared to the consensus estimate of $106.33 million. Phreesia had a negative net margin of 25.73% and a negative return on equity of 39.34%. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.58) earnings per share. As a group, analysts forecast that Phreesia will post -1.23 EPS for the current year.

Insider Buying and Selling at Phreesia

In related news, SVP Amy Beth Vanduyn sold 25,447 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $20.93, for a total transaction of $532,605.71. Following the completion of the sale, the senior vice president now directly owns 93,470 shares in the company, valued at approximately $1,956,327.10. This trade represents a 21.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Chaim Indig sold 3,089 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $21.03, for a total transaction of $64,961.67. Following the sale, the chief executive officer now owns 1,220,647 shares of the company’s stock, valued at $25,670,206.41. This represents a 0.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,569 shares of company stock worth $1,123,014. Insiders own 5.80% of the company’s stock.

Institutional Trading of Phreesia

Institutional investors and hedge funds have recently bought and sold shares of the stock. Deerfield Management Company L.P. Series C purchased a new position in shares of Phreesia during the second quarter worth $4,078,000. Champlain Investment Partners LLC grew its position in Phreesia by 4.1% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,503,837 shares of the company’s stock valued at $57,062,000 after acquiring an additional 97,847 shares in the last quarter. Sei Investments Co. grew its position in Phreesia by 135.3% in the 2nd quarter. Sei Investments Co. now owns 165,327 shares of the company’s stock valued at $3,505,000 after acquiring an additional 95,058 shares in the last quarter. Squarepoint Ops LLC increased its stake in Phreesia by 56.3% during the second quarter. Squarepoint Ops LLC now owns 250,396 shares of the company’s stock worth $5,308,000 after purchasing an additional 90,215 shares during the period. Finally, State Street Corp increased its stake in Phreesia by 7.1% during the third quarter. State Street Corp now owns 1,327,586 shares of the company’s stock worth $30,256,000 after purchasing an additional 88,517 shares during the period. 92.10% of the stock is currently owned by hedge funds and other institutional investors.

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.