Phreesia’s (PHR) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Phreesia (NYSE:PHR) in a report published on Friday morning, Benzinga reports. They currently have a $29.00 target price on the stock.

Several other research firms have also recently issued reports on PHR. Barclays assumed coverage on Phreesia in a research report on Wednesday, January 3rd. They set an overweight rating and a $29.00 price objective for the company. Robert W. Baird increased their target price on Phreesia from $30.00 to $31.00 and gave the stock an outperform rating in a research note on Monday. JMP Securities cut their target price on Phreesia from $39.00 to $28.00 and set a market outperform rating for the company in a research note on Wednesday, December 6th. Raymond James dropped their price objective on Phreesia from $30.00 to $25.00 and set an outperform rating for the company in a research note on Thursday, December 7th. Finally, Truist Financial started coverage on Phreesia in a research note on Monday, February 26th. They issued a buy rating and a $35.00 price objective for the company. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $32.71.

Phreesia Trading Down 3.5 %

Phreesia stock traded down $0.82 during trading on Friday, reaching $22.93. 693,167 shares of the company were exchanged, compared to its average volume of 545,245. Phreesia has a 52-week low of $12.05 and a 52-week high of $36.13. The company has a market capitalization of $1.28 billion, a P/E ratio of -9.10 and a beta of 0.93. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.02 and a quick ratio of 2.02. The stock’s 50 day simple moving average is $25.31 and its two-hundred day simple moving average is $20.99.

Phreesia (NYSE:PHR) last posted its earnings results on Thursday, March 14th. The company reported ($0.56) EPS for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.02. Phreesia had a negative return on equity of 52.97% and a negative net margin of 38.42%. The company had revenue of $95.00 million for the quarter, compared to the consensus estimate of $93.52 million. During the same quarter in the previous year, the business earned ($0.72) earnings per share. The company’s revenue for the quarter was up 24.0% on a year-over-year basis. On average, equities research analysts expect that Phreesia will post -1.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Phreesia news, COO Evan Roberts sold 2,247 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $24.55, for a total transaction of $55,163.85. Following the sale, the chief operating officer now directly owns 795,613 shares of the company’s stock, valued at $19,532,299.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Phreesia news, COO Evan Roberts sold 2,247 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $24.55, for a total value of $55,163.85. Following the transaction, the chief operating officer now directly owns 795,613 shares of the company’s stock, valued at $19,532,299.15. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Chaim Indig sold 3,586 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $24.55, for a total transaction of $88,036.30. Following the completion of the transaction, the chief executive officer now directly owns 1,280,410 shares in the company, valued at $31,434,065.50. The disclosure for this sale can be found here. Insiders sold 9,950 shares of company stock valued at $246,213 over the last quarter. Corporate insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Phreesia

Institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its stake in shares of Phreesia by 1,987.3% during the 4th quarter. International Assets Investment Management LLC now owns 1,482 shares of the company’s stock worth $34,000 after purchasing an additional 1,411 shares during the last quarter. Captrust Financial Advisors grew its stake in Phreesia by 154.6% in the 2nd quarter. Captrust Financial Advisors now owns 1,426 shares of the company’s stock valued at $36,000 after buying an additional 866 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Phreesia in the 1st quarter valued at about $43,000. State of Wyoming boosted its holdings in Phreesia by 34.6% in the 2nd quarter. State of Wyoming now owns 1,918 shares of the company’s stock valued at $59,000 after purchasing an additional 493 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Phreesia by 85.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,137 shares of the company’s stock worth $80,000 after acquiring an additional 1,445 shares during the period. 94.37% 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. Its Phreesia Platform offers access solutions that offers appointment scheduling system for online appointments, reminders, and referral tracking; 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.