Canaccord Genuity Group Raises Phreesia (NYSE:PHR) Price Target to $35.00

Phreesia (NYSE:PHR) had its price target lifted by investment analysts at Canaccord Genuity Group from $34.00 to $35.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 37.96% from the stock’s previous close.

Other research analysts have also issued reports about the company. JMP Securities reaffirmed a “market outperform” rating and set a $30.00 target price on shares of Phreesia in a research report on Tuesday, December 10th. Citigroup upped their target price on Phreesia from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Royal Bank of Canada raised Phreesia from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $24.00 to $32.00 in a research report on Wednesday, January 8th. Piper Sandler reaffirmed an “overweight” rating and set a $33.00 target price (up from $31.00) on shares of Phreesia in a research report on Wednesday, January 29th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $29.00 price objective on shares of Phreesia in a report on Thursday. Thirteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $31.23.

Phreesia Trading Down 0.3 %

Shares of NYSE PHR opened at $25.37 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.74 and a quick ratio of 1.74. The stock has a market capitalization of $1.47 billion, a P/E ratio of -17.26 and a beta of 1.03. Phreesia has a 1-year low of $17.07 and a 1-year high of $30.53. The business has a fifty day moving average price of $27.31 and a 200 day moving average price of $23.99.

Insider Activity

In other Phreesia news, General Counsel Allison C. Hoffman sold 3,496 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $29.72, for a total transaction of $103,901.12. Following the transaction, the general counsel now owns 142,630 shares of the company’s stock, valued at approximately $4,238,963.60. The trade was a 2.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Balaji Gandhi sold 28,759 shares of Phreesia stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $30.00, for a total value of $862,770.00. Following the completion of the sale, the chief financial officer now owns 116,174 shares in the company, valued at $3,485,220. This represents a 19.84 % 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 over the last three months. 5.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Phreesia

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PHR. Johnson Financial Group Inc. raised its holdings in shares of Phreesia by 381.3% in the 4th quarter. Johnson Financial Group Inc. now owns 1,131 shares of the company’s stock valued at $28,000 after buying an additional 896 shares during the period. R Squared Ltd purchased a new stake in shares of Phreesia in the 4th quarter valued at $30,000. BankPlus Trust Department purchased a new stake in shares of Phreesia in the 4th quarter valued at $34,000. Quarry LP raised its holdings in shares of Phreesia by 210.9% in the 4th quarter. Quarry LP now owns 2,835 shares of the company’s stock valued at $71,000 after buying an additional 1,923 shares during the period. Finally, Venturi Wealth Management LLC purchased a new stake in Phreesia during the 4th quarter worth about $76,000. Hedge funds and other institutional investors own 92.10% of the company’s stock.

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.