Phreesia (NYSE:PHR) Stock Price Expected to Rise, KeyCorp Analyst Says

Phreesia (NYSE:PHR) had its price objective hoisted by KeyCorp from $28.00 to $30.00 in a research note released on Wednesday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Other equities analysts have also recently issued research reports about the company. Truist Financial lifted their target price on Phreesia from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Robert W. Baird dropped their price objective on Phreesia from $34.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. Royal Bank of Canada upgraded Phreesia from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $24.00 to $32.00 in a report on Wednesday. Needham & Company LLC restated a “buy” rating and set a $29.00 price objective on shares of Phreesia in a report on Tuesday, December 10th. Finally, JMP Securities restated a “market outperform” rating and set a $30.00 price objective on shares of Phreesia in a report on Tuesday, December 10th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, Phreesia currently has an average rating of “Buy” and an average price target of $31.00.

Phreesia Stock Performance

NYSE PHR opened at $26.75 on Wednesday. The stock has a market capitalization of $1.55 billion, a PE ratio of -18.20 and a beta of 0.94. The business has a 50 day simple moving average of $22.87 and a two-hundred day simple moving average of $22.62. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.74 and a quick ratio of 1.77. Phreesia has a 1-year low of $17.07 and a 1-year high of $29.16.

Phreesia (NYSE:PHR) last announced its earnings results on Monday, December 9th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.04. The firm had revenue of $106.80 million during 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 company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.58) EPS. On average, research analysts predict that Phreesia will post -1.16 EPS for the current fiscal year.

Insider Buying and Selling at Phreesia

In other Phreesia news, insider Yvonne Hui sold 2,791 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $20.92, for a total value of $58,387.72. Following the sale, the insider now directly owns 27,228 shares of the company’s stock, valued at approximately $569,609.76. This trade represents a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Chaim Indig sold 3,089 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 value of $64,961.67. Following the completion of the sale, the chief executive officer now directly owns 1,220,647 shares in the company, valued at approximately $25,670,206.41. The trade was a 0.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,384 shares of company stock worth $2,418,475. 5.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Phreesia

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Trust Point Inc. lifted its position in Phreesia by 3.5% during the third quarter. Trust Point Inc. now owns 17,887 shares of the company’s stock worth $408,000 after buying an additional 607 shares in the last quarter. Ensign Peak Advisors Inc lifted its position in Phreesia by 3.2% during the second quarter. Ensign Peak Advisors Inc now owns 22,491 shares of the company’s stock worth $477,000 after buying an additional 700 shares in the last quarter. Rhumbline Advisers lifted its position in Phreesia by 1.0% during the second quarter. Rhumbline Advisers now owns 82,136 shares of the company’s stock worth $1,741,000 after buying an additional 853 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Phreesia by 3.3% during the third quarter. The Manufacturers Life Insurance Company now owns 27,935 shares of the company’s stock worth $637,000 after buying an additional 905 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in Phreesia by 3.8% during the third quarter. MetLife Investment Management LLC now owns 30,781 shares of the company’s stock worth $701,000 after buying an additional 1,120 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.