Phreesia (NYSE:PHR) Upgraded at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Phreesia (NYSE:PHR) from a sector perform rating to an outperform rating in a research note published on Wednesday, MarketBeat.com reports. The brokerage currently has $32.00 price objective on the stock, up from their prior price objective of $24.00.

A number of other equities analysts have also recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and issued a $29.00 price objective on shares of Phreesia in a research note on Tuesday, December 10th. Truist Financial increased their target price on shares of Phreesia from $31.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. JMP Securities reiterated a “market outperform” rating and set a $30.00 target price on shares of Phreesia in a research report on Tuesday, December 10th. Finally, Robert W. Baird dropped their target price on shares of Phreesia from $34.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Phreesia has a consensus rating of “Buy” and a consensus price target of $31.00.

Phreesia Price Performance

Shares of Phreesia stock opened at $26.75 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.74 and a quick ratio of 1.77. Phreesia has a fifty-two week low of $17.07 and a fifty-two week high of $29.16. The firm has a fifty day moving average price of $22.87 and a two-hundred day moving average price of $22.62. The company has a market cap of $1.55 billion, a PE ratio of -18.20 and a beta of 0.94.

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 analysts’ consensus estimates of ($0.29) by $0.04. Phreesia had a negative net margin of 20.43% and a negative return on equity of 32.78%. The company had revenue of $106.80 million during the quarter, compared to analysts’ expectations of $106.33 million. During the same quarter in the prior year, the company posted ($0.58) EPS. The business’s revenue was up 16.6% on a year-over-year basis. Analysts expect that Phreesia will post -1.16 EPS for the current year.

Insider Buying and Selling at Phreesia

In other Phreesia news, SVP David Linetsky sold 2,011 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly owns 201,307 shares of the company’s stock, valued at approximately $4,233,486.21. This represents a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Chaim Indig sold 3,089 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $21.03, for a total transaction of $64,961.67. Following the sale, the chief executive officer now directly owns 1,220,647 shares in the company, valued at $25,670,206.41. This trade represents a 0.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,384 shares of company stock valued at $2,418,475. 5.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Phreesia

Large investors have recently modified their holdings of the stock. International Assets Investment Management LLC raised its position in shares of Phreesia by 2,179.7% in the third quarter. International Assets Investment Management LLC now owns 1,459 shares of the company’s stock valued at $33,000 after purchasing an additional 1,395 shares during the period. Lombard Odier Asset Management USA Corp bought a new position in shares of Phreesia in the second quarter valued at about $202,000. Point72 DIFC Ltd bought a new position in shares of Phreesia in the second quarter valued at about $209,000. XTX Topco Ltd bought a new position in shares of Phreesia in the third quarter valued at about $247,000. Finally, Hsbc Holdings PLC bought a new position in shares of Phreesia in the second quarter valued at about $301,000. 92.10% of the stock is owned by institutional investors.

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.