JMP Securities Reaffirms “Market Outperform” Rating for Phreesia (NYSE:PHR)

Phreesia (NYSE:PHR)‘s stock had its “market outperform” rating reissued by JMP Securities in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $30.00 price objective on the stock. JMP Securities’ price target would indicate a potential upside of 18.53% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Canaccord Genuity Group lowered their price target on Phreesia from $37.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Stephens restated an “overweight” rating and set a $28.00 price objective on shares of Phreesia in a research report on Friday, May 31st. Truist Financial reaffirmed a “buy” rating and issued a $29.00 price target on shares of Phreesia in a report on Monday, July 1st. KeyCorp lowered their price target on shares of Phreesia from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $29.00 price target on shares of Phreesia in a report on Friday, May 31st. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.54.

Phreesia Stock Down 0.5 %

Shares of PHR stock traded down $0.12 during midday trading on Friday, reaching $25.31. 56,854 shares of the stock were exchanged, compared to its average volume of 459,954. Phreesia has a 1 year low of $12.05 and a 1 year high of $30.70. The company’s 50 day moving average is $22.82 and its two-hundred day moving average is $22.90. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1.45 billion, a PE ratio of -11.72 and a beta of 0.93.

Phreesia (NYSE:PHR) last posted its earnings results on Thursday, May 30th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.16. Phreesia had a negative return on equity of 46.89% and a negative net margin of 31.87%. The firm had revenue of $101.20 million for the quarter, compared to the consensus estimate of $100.94 million. During the same quarter in the prior year, the business earned ($0.70) EPS. The business’s revenue for the quarter was up 20.8% on a year-over-year basis. On average, equities research analysts predict that Phreesia will post -1.16 EPS for the current year.

Insiders Place Their Bets

In other Phreesia news, CEO Chaim Indig sold 2,644 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $23.74, for a total value of $62,768.56. Following the completion of the transaction, the chief executive officer now directly owns 1,219,361 shares in the company, valued at $28,947,630.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Phreesia news, General Counsel Allison C. Hoffman sold 14,110 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $26.03, for a total value of $367,283.30. Following the completion of the transaction, the general counsel now directly owns 121,003 shares in the company, valued at $3,149,708.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Chaim Indig sold 2,644 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $23.74, for a total transaction of $62,768.56. Following the completion of the transaction, the chief executive officer now owns 1,219,361 shares of the company’s stock, valued at $28,947,630.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,337 shares of company stock worth $736,750. 5.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Phreesia

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Phreesia by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 4,628,441 shares of the company’s stock valued at $107,148,000 after acquiring an additional 194,035 shares in the last quarter. Brown Advisory Inc. increased its holdings in Phreesia by 22.2% in the 4th quarter. Brown Advisory Inc. now owns 3,950,356 shares of the company’s stock worth $91,451,000 after buying an additional 716,374 shares during the period. Capital International Investors increased its holdings in Phreesia by 221.1% in the 1st quarter. Capital International Investors now owns 2,593,063 shares of the company’s stock worth $62,052,000 after buying an additional 1,785,463 shares during the period. Franklin Resources Inc. increased its holdings in Phreesia by 15.0% in the 4th quarter. Franklin Resources Inc. now owns 1,484,663 shares of the company’s stock worth $34,370,000 after buying an additional 193,480 shares during the period. Finally, Champlain Investment Partners LLC acquired a new position in Phreesia in the 1st quarter worth approximately $29,941,000. Institutional investors and hedge funds own 92.10% of the company’s stock.

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.