Phreesia (NYSE:PHR) Rating Lowered to Buy at Wall Street Zen

Phreesia (NYSE:PHR) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Sunday.

Several other equities analysts also recently issued reports on PHR. Barclays cut their price target on shares of Phreesia from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Tuesday, December 16th. JPMorgan Chase & Co. cut their target price on shares of Phreesia from $32.00 to $29.00 and set an “overweight” rating for the company in a research note on Tuesday, December 9th. Royal Bank Of Canada began coverage on Phreesia in a report on Friday, January 9th. They issued a “moderate buy” rating and a $26.00 target price on the stock. Zacks Research cut Phreesia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Finally, DA Davidson reduced their price objective on Phreesia from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, January 23rd. Seventeen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.41.

Phreesia Stock Performance

Shares of PHR opened at $12.20 on Friday. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.01. The stock has a market cap of $735.54 million, a PE ratio of -121.99 and a beta of 0.65. Phreesia has a 1 year low of $11.67 and a 1 year high of $32.76. The stock has a 50 day simple moving average of $16.24 and a 200-day simple moving average of $21.78.

Phreesia (NYSE:PHR) last announced its quarterly earnings results on Monday, December 8th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.11. The firm had revenue of $120.33 million for the quarter, compared to analysts’ expectations of $119.98 million. Phreesia had a negative return on equity of 1.31% and a negative net margin of 1.16%.The business’s revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.25) earnings per share. On average, sell-side analysts predict that Phreesia will post -1.1 EPS for the current fiscal year.

Insider Activity

In other Phreesia news, insider Evan Roberts sold 6,317 shares of the stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $17.01, for a total value of $107,452.17. Following the transaction, the insider directly owned 834,632 shares in the company, valued at approximately $14,197,090.32. This trade represents a 0.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Linetsky sold 6,106 shares of the business’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $17.01, for a total value of $103,863.06. Following the sale, the insider owned 231,723 shares of the company’s stock, valued at approximately $3,941,608.23. The trade was a 2.57% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 60,766 shares of company stock worth $1,013,817. 5.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Phreesia by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 5,744,326 shares of the company’s stock worth $97,194,000 after buying an additional 39,540 shares during the last quarter. Greenhouse Funds LLLP grew its holdings in Phreesia by 16.8% during the 3rd quarter. Greenhouse Funds LLLP now owns 3,882,527 shares of the company’s stock worth $91,317,000 after acquiring an additional 557,265 shares during the period. Franklin Resources Inc. raised its position in shares of Phreesia by 1.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,553,192 shares of the company’s stock valued at $36,531,000 after acquiring an additional 28,941 shares during the last quarter. Granahan Investment Management LLC lifted its stake in shares of Phreesia by 6.0% in the 3rd quarter. Granahan Investment Management LLC now owns 1,380,626 shares of the company’s stock valued at $32,472,000 after purchasing an additional 77,841 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Phreesia by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 1,329,460 shares of the company’s stock worth $22,499,000 after purchasing an additional 4,938 shares during the last quarter. Institutional investors own 92.10% of the company’s stock.

Phreesia Company Profile

Phreesia, Inc (NYSE: PHR) is a provider of patient intake management solutions designed to streamline front-office workflows for healthcare organizations. The company’s cloud-based platform digitizes patient registration, appointment scheduling, insurance verification, consent documentation and payment collection through touchscreen kiosks, tablets and mobile devices. By replacing paper forms and manual processes, Phreesia enhances data accuracy, reduces administrative burden and improves the patient experience.

Founded in 2000 by Chaim Indig and headquartered in Burlington, Massachusetts, Phreesia offers a modular software suite that integrates with electronic medical record (EMR) and practice management systems.