Phreesia’s (PHR) “Buy” Rating Reaffirmed at Needham & Company LLC

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

PHR has been the subject of several other reports. Royal Bank of Canada raised shares of Phreesia from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $24.00 to $32.00 in a research note on Wednesday. Robert W. Baird cut their price target on shares of Phreesia from $34.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. JMP Securities reissued a “market outperform” rating and issued a $30.00 price objective on shares of Phreesia in a research note on Tuesday, December 10th. Truist Financial upped their target price on Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, KeyCorp boosted their price objective on Phreesia from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $31.00.

Phreesia Stock Performance

Shares of NYSE:PHR opened at $26.75 on Friday. The firm has a fifty day simple moving average of $22.87 and a two-hundred day simple moving average of $22.62. 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 stock 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 issued its quarterly earnings data on Monday, December 9th. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.04. The company had revenue of $106.80 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.58) earnings per share. On average, analysts expect that Phreesia will post -1.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Phreesia

In other news, COO Evan Roberts sold 2,681 shares of Phreesia 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 transaction, the chief operating officer now directly owns 769,993 shares in the company, valued at approximately $21,521,304.35. This trade represents a 0.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Balaji Gandhi sold 3,195 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $26.61, for a total value of $85,018.95. Following the sale, the chief financial officer now owns 148,509 shares of the company’s stock, valued at $3,951,824.49. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,384 shares of company stock valued at $2,418,475. Company insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Versor Investments LP acquired a new stake in Phreesia in the third quarter valued at approximately $694,000. Zacks Investment Management acquired a new stake in shares of Phreesia in the 3rd quarter worth $631,000. Sei Investments Co. increased its position in Phreesia by 135.3% during the 2nd quarter. Sei Investments Co. now owns 165,327 shares of the company’s stock valued at $3,505,000 after buying an additional 95,058 shares in the last quarter. State Street Corp raised its stake in Phreesia by 7.1% in the third quarter. State Street Corp now owns 1,327,586 shares of the company’s stock valued at $30,256,000 after buying an additional 88,517 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Phreesia by 83.6% in the third quarter. Barclays PLC now owns 94,929 shares of the company’s stock worth $2,163,000 after acquiring an additional 43,225 shares in the last quarter. Hedge funds and other institutional investors own 92.10% of the company’s stock.

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.