Phreesia (NYSE:PHR) Trading Up 3.9% Following Analyst Upgrade

Shares of Phreesia, Inc. (NYSE:PHR) traded up 3.9% during mid-day trading on Thursday after Canaccord Genuity Group raised their price target on the stock from $34.00 to $35.00. Canaccord Genuity Group currently has a buy rating on the stock. Phreesia traded as high as $24.80 and last traded at $24.74. 334,756 shares were traded during trading, a decline of 18% from the average session volume of 405,778 shares. The stock had previously closed at $23.80.

PHR has been the topic of several other reports. Needham & Company LLC restated a “buy” rating and set a $29.00 price objective on shares of Phreesia in a report on Thursday. Piper Sandler restated an “overweight” rating and set a $33.00 price objective (up from $31.00) on shares of Phreesia in a report on Wednesday, January 29th. JMP Securities reiterated a “market outperform” rating and issued a $30.00 price target on shares of Phreesia in a report on Tuesday, December 10th. Royal Bank of Canada upgraded Phreesia from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $24.00 to $32.00 in a report on Wednesday, January 8th. Finally, Robert W. Baird lowered their price target on Phreesia from $34.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. Thirteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $31.23.

Insider Activity at Phreesia

In other Phreesia news, COO Evan Roberts sold 3,519 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $30.06, for a total transaction of $105,781.14. Following the completion of the transaction, the chief operating officer now owns 741,197 shares in the company, valued at approximately $22,280,381.82. The trade was a 0.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Amy Beth Vanduyn sold 1,311 shares of the business’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 $34,885.71. Following the transaction, the senior vice president now owns 115,633 shares of the company’s stock, valued at $3,076,994.13. This trade represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 163,322 shares of company stock worth $4,631,915 in the last 90 days. 5.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Johnson Financial Group Inc. boosted its position in Phreesia by 381.3% during the 4th quarter. Johnson Financial Group Inc. now owns 1,131 shares of the company’s stock worth $28,000 after acquiring an additional 896 shares during the period. R Squared Ltd acquired a new position in Phreesia during the 4th quarter worth $30,000. BankPlus Trust Department acquired a new position in Phreesia during the 4th quarter worth $34,000. Quarry LP boosted its position in Phreesia by 210.9% during the 4th quarter. Quarry LP now owns 2,835 shares of the company’s stock worth $71,000 after acquiring an additional 1,923 shares during the period. Finally, Venturi Wealth Management LLC acquired a new position in Phreesia during the 4th quarter worth $76,000. Institutional investors and hedge funds own 92.10% of the company’s stock.

Phreesia Stock Down 0.3 %

The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -17.26 and a beta of 1.03. The stock has a 50-day simple moving average of $27.31 and a 200-day simple moving average of $23.99.

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.