Phreesia (NYSE:PHR) Reaches New 1-Year High – Here’s Why

Phreesia, Inc. (NYSE:PHR) hit a new 52-week high during trading on Thursday . The stock traded as high as $30.02 and last traded at $29.65, with a volume of 498053 shares trading hands. The stock had previously closed at $28.43.

Wall Street Analysts Forecast Growth

PHR has been the topic of a number of research reports. Citigroup increased their price objective on shares of Phreesia from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Truist Financial upped their price target on shares of Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Royal Bank of Canada upgraded Phreesia from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $24.00 to $32.00 in a research note on Wednesday, January 8th. JMP Securities restated a “market outperform” rating and issued a $30.00 target price on shares of Phreesia in a research note on Tuesday, December 10th. Finally, Robert W. Baird reduced their price target on Phreesia from $34.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. Thirteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $31.15.

Phreesia Stock Up 5.4 %

The business has a 50-day moving average price of $26.43 and a 200-day moving average price of $23.59. The stock has a market cap of $1.74 billion, a PE ratio of -20.39 and a beta of 0.96. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.04.

Phreesia (NYSE:PHR) last posted its quarterly earnings data on Monday, December 9th. The company reported ($0.25) earnings per share for the quarter, topping 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 period in the prior year, the business posted ($0.58) earnings per share. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, analysts forecast that Phreesia, Inc. will post -1.1 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Amy Beth Vanduyn sold 25,447 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $20.93, for a total transaction of $532,605.71. Following the completion of the sale, the senior vice president now owns 93,470 shares of the company’s stock, valued at $1,956,327.10. This represents a 21.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Weintraub sold 15,152 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $21.01, for a total transaction of $318,343.52. Following the completion of the transaction, the director now directly owns 242,827 shares in the company, valued at approximately $5,101,795.27. This represents a 5.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 167,173 shares of company stock worth $4,221,400. Insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. R Squared Ltd acquired a new stake in shares of Phreesia in the fourth quarter valued at approximately $30,000. BankPlus Trust Department acquired a new stake in shares of Phreesia in the 4th quarter worth $34,000. International Assets Investment Management LLC increased its stake in shares of Phreesia by 2,179.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,459 shares of the company’s stock worth $33,000 after acquiring an additional 1,395 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in shares of Phreesia during the 4th quarter worth $76,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of Phreesia by 154.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,442 shares of the company’s stock valued at $89,000 after acquiring an additional 2,090 shares during the last quarter. 92.10% of the stock is currently owned by institutional investors and hedge funds.

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.