Phreesia (NYSE:PHR) Earns “Buy” Rating from Needham & Company LLC

Phreesia (NYSE:PHR)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $29.00 price target on the stock. Needham & Company LLC’s target price suggests a potential upside of 8.41% from the stock’s current price.

Several other analysts have also commented on the company. KeyCorp lifted their price objective on Phreesia from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday. Truist Financial lifted their target price on Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Robert W. Baird lowered their target price on Phreesia from $34.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th. Royal Bank of Canada upgraded Phreesia from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $24.00 to $32.00 in a research report on Wednesday. Finally, 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. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $31.00.

Phreesia Stock Performance

Shares of PHR opened at $26.75 on Friday. 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 one year low of $17.07 and a one year high of $29.16. The firm has a market capitalization of $1.55 billion, a P/E ratio of -18.20 and a beta of 0.94. The business has a fifty day moving average of $22.87 and a 200 day moving average of $22.63.

Phreesia (NYSE:PHR) last issued its quarterly earnings data on Monday, December 9th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.04. Phreesia had a negative return on equity of 32.78% and a negative net margin of 20.43%. The company had revenue of $106.80 million during the quarter, compared to analyst estimates of $106.33 million. During the same quarter in the previous year, the company posted ($0.58) earnings per share. Phreesia’s revenue was up 16.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Phreesia will post -1.16 EPS for the current year.

Insider Activity

In other news, CEO Chaim Indig sold 3,089 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $21.03, for a total value of $64,961.67. Following the transaction, the chief executive officer now directly owns 1,220,647 shares in the company, valued at $25,670,206.41. The trade was a 0.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Allison C. Hoffman sold 1,212 shares of Phreesia stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $21.03, for a total value of $25,488.36. Following the completion of the sale, the general counsel now directly owns 119,791 shares in the company, valued at $2,519,204.73. This trade represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 104,384 shares of company stock worth $2,418,475 over the last ninety days. Corporate insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Phreesia

Several large investors have recently made changes to their positions in PHR. Bank of New York Mellon Corp increased its holdings in shares of Phreesia by 8.4% in the second quarter. Bank of New York Mellon Corp now owns 214,430 shares of the company’s stock worth $4,546,000 after purchasing an additional 16,614 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Phreesia by 1.0% in the second quarter. Rhumbline Advisers now owns 82,136 shares of the company’s stock worth $1,741,000 after purchasing an additional 853 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of Phreesia in the second quarter worth about $301,000. Sei Investments Co. increased its stake in Phreesia by 135.3% during the second 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 during the last quarter. Finally, Ensign Peak Advisors Inc increased its stake in Phreesia by 3.2% during the second quarter. Ensign Peak Advisors Inc now owns 22,491 shares of the company’s stock worth $477,000 after acquiring an additional 700 shares during the last quarter. 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.