Brokerages Set Phreesia, Inc. (NYSE:PHR) Price Target at $29.33

Shares of Phreesia, Inc. (NYSE:PHR) have earned an average rating of “Moderate Buy” from the twelve brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $29.33.

A number of analysts have recently weighed in on the company. Canaccord Genuity Group reiterated a “buy” rating and set a $34.00 price target on shares of Phreesia in a research report on Thursday, September 5th. Robert W. Baird lowered their target price on Phreesia from $34.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th. Needham & Company LLC restated a “buy” rating and set a $29.00 price objective on shares of Phreesia in a research note on Tuesday, December 10th. JMP Securities reiterated a “market outperform” rating and set a $30.00 price objective on shares of Phreesia in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. upped their target price on Phreesia from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th.

Phreesia Price Performance

PHR stock opened at $25.19 on Friday. The company has a market capitalization of $1.46 billion, a PE ratio of -17.14 and a beta of 0.98. 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’s 50 day moving average is $20.90 and its two-hundred day moving average is $22.04. Phreesia has a 52-week low of $17.07 and a 52-week high of $29.16.

Phreesia (NYSE:PHR) last posted its quarterly earnings results on Monday, December 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.04. The firm had revenue of $106.80 million for the quarter, compared to analysts’ expectations of $106.33 million. Phreesia had a negative net margin of 20.43% and a negative return on equity of 32.78%. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.58) earnings per share. Analysts predict that Phreesia will post -1.16 earnings per share for the current fiscal year.

Insider Activity

In other news, General Counsel Allison C. Hoffman sold 3,495 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $24.88, for a total transaction of $86,955.60. Following the transaction, the general counsel now owns 116,296 shares in the company, valued at approximately $2,893,444.48. The trade was a 2.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Chaim Indig sold 3,089 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was 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 owns 1,220,647 shares of the company’s stock, valued at $25,670,206.41. This represents a 0.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,342 shares of company stock valued at $2,041,225. Insiders own 5.80% of the company’s stock.

Institutional Trading of Phreesia

Several institutional investors have recently made changes to their positions in the business. Versor Investments LP bought a new position in shares of Phreesia in the third quarter valued at approximately $694,000. Zacks Investment Management bought a new position in Phreesia in the 3rd quarter valued at $631,000. Sei Investments Co. boosted its stake in Phreesia by 135.3% in the second quarter. Sei Investments Co. now owns 165,327 shares of the company’s stock worth $3,505,000 after purchasing an additional 95,058 shares in the last quarter. Peregrine Capital Management LLC grew its holdings in shares of Phreesia by 11.3% during the second quarter. Peregrine Capital Management LLC now owns 354,607 shares of the company’s stock worth $7,518,000 after purchasing an additional 36,047 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C acquired a new position in shares of Phreesia during the second quarter worth approximately $4,078,000. 92.10% of the stock is currently owned by institutional investors and hedge funds.

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.