Phreesia (NYSE:PHR) Price Target Raised to $35.00

Phreesia (NYSE:PHR) had its price objective raised by Citigroup from $31.00 to $35.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also recently weighed in on PHR. Robert W. Baird decreased their price target on Phreesia from $34.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $29.00 price target on shares of Phreesia in a research note on Friday. Royal Bank of Canada raised Phreesia from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $24.00 to $32.00 in a report on Wednesday, January 8th. Truist Financial lifted their price target on shares of Phreesia from $31.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, JMP Securities restated a “market outperform” rating and set a $30.00 price objective on shares of Phreesia in a research note on Tuesday, December 10th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Phreesia has an average rating of “Buy” and a consensus price target of $31.00.

Phreesia Price Performance

Phreesia stock opened at $26.75 on Friday. The firm has a fifty day moving average of $22.87 and a 200-day moving average of $22.63. Phreesia has a 52-week low of $17.07 and a 52-week high of $29.16. The company has a quick ratio of 1.77, a current ratio of 1.74 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $1.55 billion, a P/E ratio of -18.20 and a beta of 0.94.

Phreesia (NYSE:PHR) last announced its quarterly earnings results 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 firm had revenue of $106.80 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.58) EPS. As a group, analysts predict that Phreesia will post -1.16 EPS for the current year.

Insider Transactions at Phreesia

In other news, COO Evan Roberts sold 2,681 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $27.95, for a total value of $74,933.95. Following the completion of the transaction, the chief operating officer now owns 769,993 shares of the company’s stock, valued at approximately $21,521,304.35. This represents a 0.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Allison C. Hoffman sold 1,212 shares of Phreesia stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $21.03, for a total transaction of $25,488.36. Following the sale, the general counsel now owns 119,791 shares in the company, valued at approximately $2,519,204.73. This represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 104,384 shares of company stock worth $2,418,475. Insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Deerfield Management Company L.P. Series C bought a new stake in Phreesia during the second quarter worth approximately $4,078,000. Champlain Investment Partners LLC lifted its position in shares of Phreesia by 4.1% during the 3rd quarter. Champlain Investment Partners LLC now owns 2,503,837 shares of the company’s stock valued at $57,062,000 after acquiring an additional 97,847 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Phreesia by 135.3% during the 2nd quarter. Sei Investments Co. now owns 165,327 shares of the company’s stock worth $3,505,000 after acquiring an additional 95,058 shares in the last quarter. Squarepoint Ops LLC grew its holdings in shares of Phreesia by 56.3% in the 2nd quarter. Squarepoint Ops LLC now owns 250,396 shares of the company’s stock worth $5,308,000 after acquiring an additional 90,215 shares during the last quarter. Finally, State Street Corp raised its position in shares of Phreesia by 7.1% during the third quarter. State Street Corp now owns 1,327,586 shares of the company’s stock worth $30,256,000 after purchasing an additional 88,517 shares during the period. 92.10% of the stock is currently 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.