Phreesia (NYSE:PHR) Earns Overweight Rating from Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Phreesia (NYSE:PHR) in a report published on Wednesday,Benzinga reports. They currently have a $33.00 target price on the stock, up from their prior target price of $31.00.

Several other equities research analysts have also recently issued reports on PHR. Needham & Company LLC restated a “buy” rating and set a $29.00 price objective on shares of Phreesia in a research report on Friday, January 10th. Truist Financial lifted their price target on shares of Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Citigroup increased their price objective on Phreesia from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. 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. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $30.00 price target on shares of Phreesia in a research note on Tuesday, December 10th. Thirteen research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $31.15.

Phreesia Stock Down 1.8 %

PHR opened at $28.47 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.74 and a quick ratio of 1.74. The company’s 50 day simple moving average is $24.98 and its two-hundred day simple moving average is $23.28. Phreesia has a 1-year low of $17.07 and a 1-year high of $29.90.

Phreesia (NYSE:PHR) last released its quarterly earnings data 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 company had revenue of $106.80 million for the quarter, compared to analyst estimates of $106.33 million. Phreesia had a negative return on equity of 32.78% and a negative net margin of 20.43%. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.58) earnings per share. Research analysts anticipate that Phreesia will post -1.1 earnings per share for the current year.

Insider Activity

In other Phreesia news, Director Michael Weintraub sold 15,152 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $21.01, for a total value of $318,343.52. Following the sale, the director now owns 242,827 shares of the company’s stock, valued at $5,101,795.27. This trade represents a 5.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Amy Beth Vanduyn sold 25,447 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $20.93, for a total value of $532,605.71. Following the transaction, the senior vice president now directly owns 93,470 shares of the company’s stock, valued at approximately $1,956,327.10. This represents a 21.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 166,153 shares of company stock valued at $4,191,304. 5.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PHR. Champlain Investment Partners LLC raised its holdings in shares of 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 purchasing an additional 97,847 shares in the last quarter. Franklin Resources Inc. increased its holdings in Phreesia by 3.0% in the third quarter. Franklin Resources Inc. now owns 1,497,631 shares of the company’s stock valued at $31,495,000 after buying an additional 42,973 shares during the last quarter. State Street Corp raised its stake in Phreesia by 7.1% in the third quarter. State Street Corp now owns 1,327,586 shares of the company’s stock valued at $30,256,000 after buying an additional 88,517 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Phreesia by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,245,797 shares of the company’s stock worth $28,397,000 after buying an additional 55,934 shares during the last quarter. Finally, TimesSquare Capital Management LLC boosted its position in shares of Phreesia by 2.3% during the 3rd quarter. TimesSquare Capital Management LLC now owns 868,409 shares of the company’s stock worth $19,791,000 after acquiring an additional 19,395 shares in the last quarter. Hedge funds and other institutional investors own 92.10% of the company’s stock.

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.