Phreesia (NYSE:PHR) Stock Rating Upgraded by Royal Bank of Canada

Phreesia (NYSE:PHR) was upgraded by analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research note issued on Wednesday, MarketBeat Ratings reports. The brokerage currently has a $32.00 price objective on the stock, up from their previous price objective of $24.00. Royal Bank of Canada’s target price points to a potential upside of 12.60% from the stock’s previous close.

PHR has been the topic of a number of other research reports. Needham & Company LLC reissued a “buy” rating and issued a $29.00 price objective on shares of Phreesia in a research report on Tuesday, December 10th. 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 research report on Wednesday, December 11th. Truist Financial raised their price objective on Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, JMP Securities reiterated a “market outperform” rating and set a $30.00 target price on shares of Phreesia in a report on Tuesday, December 10th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, Phreesia currently has an average rating of “Buy” and a consensus price target of $30.64.

Phreesia Price Performance

Shares of NYSE PHR opened at $28.42 on Wednesday. The company has a fifty day moving average price of $22.70 and a 200 day moving average price of $22.57. Phreesia has a 1-year low of $17.07 and a 1-year high of $29.16. The firm has a market cap of $1.65 billion, a PE ratio of -19.33 and a beta of 0.94. The company has a current ratio of 1.74, a quick ratio of 1.77 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 (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.04. The business had revenue of $106.80 million during the quarter, compared to the consensus estimate of $106.33 million. Phreesia had a negative return on equity of 32.78% and a negative net margin of 20.43%. Phreesia’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period last year, the company earned ($0.58) earnings per share. Research analysts predict that Phreesia will post -1.16 earnings per share for the current fiscal year.

Insider Transactions at Phreesia

In other Phreesia news, General Counsel Allison C. Hoffman sold 1,212 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $21.03, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Yvonne Hui sold 2,791 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $20.92, for a total value of $58,387.72. Following the completion of the transaction, the insider now directly owns 27,228 shares in the company, valued at $569,609.76. The trade was a 9.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 101,703 shares of company stock worth $2,343,541. 5.80% of the stock is owned by company insiders.

Institutional Trading of Phreesia

Several institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its holdings in shares of Phreesia by 2,179.7% during the third quarter. International Assets Investment Management LLC now owns 1,459 shares of the company’s stock worth $33,000 after buying an additional 1,395 shares in the last quarter. Lombard Odier Asset Management USA Corp bought a new position in Phreesia during the second quarter worth about $202,000. Point72 DIFC Ltd acquired a new stake in Phreesia in the 2nd quarter worth about $209,000. XTX Topco Ltd bought a new stake in Phreesia in the 3rd quarter valued at about $247,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Phreesia during the 2nd quarter worth approximately $301,000. 92.10% of the stock is currently owned by institutional investors.

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.