Phreesia (NYSE:PHR) Trading Up 7.9% – Here’s What Happened

Phreesia, Inc. (NYSE:PHR)’s stock price shot up 7.9% during mid-day trading on Tuesday . The company traded as high as $28.97 and last traded at $29.11. 367,600 shares were traded during mid-day trading, a decline of 2% from the average session volume of 376,616 shares. The stock had previously closed at $26.98.

Wall Street Analyst Weigh In

A number of brokerages have commented on PHR. KeyCorp upped their price objective on shares of Phreesia from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Robert W. Baird cut their target price on Phreesia from $34.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Royal Bank of Canada upgraded Phreesia from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $24.00 to $32.00 in a research report on Wednesday, January 8th. Citigroup increased their price target on shares of Phreesia from $31.00 to $35.00 and gave the company a “buy” rating in a report on Friday, January 10th. Finally, Needham & Company LLC reissued a “buy” rating and set a $29.00 price target on shares of Phreesia in a research note on Friday, January 10th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $31.00.

Phreesia Stock Up 8.4 %

The stock has a market cap of $1.70 billion, a price-to-earnings ratio of -19.90 and a beta of 0.94. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.04. The firm’s 50 day moving average is $24.36 and its two-hundred day moving average is $23.15.

Phreesia (NYSE:PHR) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $106.33 million. Phreesia had a negative net margin of 20.43% and a negative return on equity of 32.78%. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.58) earnings per share. On average, sell-side analysts predict that Phreesia, Inc. will post -1.1 EPS for the current year.

Insider Transactions at Phreesia

In other Phreesia news, SVP Amy Beth Vanduyn sold 1,311 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $26.61, for a total value of $34,885.71. Following the transaction, the senior vice president now directly owns 115,633 shares of the company’s stock, valued at $3,076,994.13. This represents a 1.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Balaji Gandhi sold 3,195 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $26.61, for a total transaction of $85,018.95. Following the completion of the sale, the chief financial officer now directly owns 148,509 shares of the company’s stock, valued at $3,951,824.49. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 131,883 shares of company stock worth $3,248,465 in the last three months. Company insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Phreesia

Several institutional investors and hedge funds have recently made changes to their positions in PHR. R Squared Ltd acquired a new position in Phreesia in the fourth quarter worth $30,000. International Assets Investment Management LLC lifted its position in shares of Phreesia by 2,179.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,459 shares of the company’s stock worth $33,000 after buying an additional 1,395 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Phreesia during the 3rd quarter valued at about $247,000. Hsbc Holdings PLC acquired a new stake in shares of Phreesia during the 2nd quarter worth approximately $301,000. Finally, Intech Investment Management LLC bought a new stake in Phreesia in the third quarter valued at $316,000. 92.10% of the stock is owned by institutional investors and hedge funds.

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.