Phreesia (NYSE:PHR) Given “Buy” Rating at Needham & Company LLC

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

A number of other research firms have also recently issued reports on PHR. JMP Securities restated a “market outperform” rating and set a $30.00 price objective on shares of Phreesia in a report on Tuesday, December 10th. Robert W. Baird lowered their target price on shares of 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 raised shares of Phreesia from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $24.00 to $32.00 in a research note on Wednesday. Truist Financial lifted their price objective on shares of Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, KeyCorp upped their target price on shares of Phreesia from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Wednesday. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, Phreesia has a consensus rating of “Buy” and a consensus price target of $30.64.

Phreesia Trading Up 5.3 %

PHR stock opened at $28.42 on Friday. The firm’s fifty day simple moving average is $22.70 and its two-hundred day simple moving average is $22.57. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -19.33 and a beta of 0.94. The company has a quick ratio of 1.77, a current ratio of 1.74 and a debt-to-equity ratio of 0.04. Phreesia has a twelve month low of $17.07 and a twelve month high of $29.16.

Phreesia (NYSE:PHR) last posted 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 net margin of 20.43% and a negative return on equity of 32.78%. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.58) EPS. As a group, analysts anticipate that Phreesia will post -1.16 earnings per share for the current year.

Insider Activity

In related news, insider Yvonne Hui sold 2,791 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $20.92, for a total transaction of $58,387.72. Following the completion of the transaction, the insider now owns 27,228 shares in the company, valued at $569,609.76. The trade was a 9.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP David Linetsky sold 2,011 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $21.03, for a total transaction of $42,291.33. Following the completion of the sale, the senior vice president now owns 201,307 shares of the company’s stock, valued at approximately $4,233,486.21. This trade represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,703 shares of company stock worth $2,343,541. Corporate insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Phreesia

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

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.