Needham & Company LLC Reaffirms Buy Rating for Phreesia (NYSE:PHR)

Phreesia (NYSE:PHR)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a research note issued to investors on Friday,Benzinga reports. They currently have a $29.00 price target on the stock. Needham & Company LLC’s price target suggests a potential upside of 2.04% from the stock’s current price.

A number of other equities analysts also recently issued reports on PHR. Truist Financial raised their price target on Phreesia from $31.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Royal Bank of Canada raised Phreesia from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $24.00 to $32.00 in a research report on Wednesday. KeyCorp upped 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. JMP Securities reissued a “market outperform” rating and issued a $30.00 price objective on shares of Phreesia in a report on Tuesday, December 10th. Finally, Robert W. Baird reduced their target price on shares of Phreesia from $34.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Phreesia currently has an average rating of “Buy” and an average price target of $30.64.

Phreesia Price Performance

Shares of NYSE:PHR opened at $28.42 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.77 and a current ratio of 1.74. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -19.33 and a beta of 0.94. The business has a 50-day simple moving average of $22.70 and a two-hundred day simple moving average of $22.57. Phreesia has a fifty-two week low of $17.07 and a fifty-two week high of $29.16.

Phreesia (NYSE:PHR) last released its quarterly earnings data on Monday, December 9th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.04. The firm 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 firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.58) earnings per share. On average, analysts expect that Phreesia will post -1.16 earnings per share for the current year.

Insider Buying and Selling

In other Phreesia news, CEO Chaim Indig sold 3,089 shares of Phreesia 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 directly 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 legal filing with the SEC, which is accessible through this link. Also, insider Yvonne Hui sold 2,791 shares of the business’s stock in a transaction 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 completion of the sale, the insider now owns 27,228 shares in the company, 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 quarter, insiders sold 101,703 shares of company stock valued at $2,343,541. Company insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Phreesia

Large investors have recently made changes to their positions in the company. International Assets Investment Management LLC raised its stake in Phreesia by 2,179.7% during the third quarter. International Assets Investment Management LLC now owns 1,459 shares of the company’s stock valued at $33,000 after purchasing an additional 1,395 shares in the last quarter. Lombard Odier Asset Management USA Corp bought a new stake in shares of Phreesia in the 2nd quarter worth about $202,000. Point72 DIFC Ltd purchased a new stake in shares of Phreesia during the 2nd quarter valued at about $209,000. XTX Topco Ltd bought a new position in shares of Phreesia in the 3rd quarter valued at about $247,000. Finally, Hsbc Holdings PLC purchased a new position in Phreesia in the second quarter worth about $301,000. 92.10% of the stock is owned by 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.