Phreesia’s (PHR) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Phreesia (NYSE:PHR) in a report released on Thursday morning,Benzinga reports. They currently have a $29.00 price objective on the stock.

Several other equities research analysts have also recently commented on PHR. Piper Sandler reissued an “overweight” rating and set a $33.00 target price (up previously from $31.00) on shares of Phreesia in a report on Wednesday, January 29th. Robert W. Baird dropped their target price on Phreesia from $34.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. KeyCorp boosted their target price on Phreesia from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Royal Bank of Canada raised Phreesia from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $24.00 to $32.00 in a report on Wednesday, January 8th. Finally, Citigroup upped their price target on Phreesia from $31.00 to $35.00 and gave the company a “buy” rating in a report on Friday, January 10th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $31.33.

Phreesia Stock Performance

Shares of NYSE PHR opened at $25.37 on Thursday. 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 stock has a 50 day simple moving average of $27.31 and a 200-day simple moving average of $23.98. The company has a market cap of $1.47 billion, a PE ratio of -17.26 and a beta of 1.03. Phreesia has a 12-month low of $17.07 and a 12-month high of $30.53.

Insiders Place Their Bets

In other news, CFO Balaji Gandhi sold 3,195 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $26.61, for a total transaction of $85,018.95. Following the transaction, the chief financial officer now directly owns 148,509 shares in the company, valued at $3,951,824.49. The trade was a 2.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Amy Beth Vanduyn sold 1,311 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $26.61, for a total transaction of $34,885.71. Following the transaction, the senior vice president now owns 115,633 shares in the company, valued at approximately $3,076,994.13. This represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 163,322 shares of company stock worth $4,631,915. Corporate insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Phreesia

A number of large investors have recently bought and sold shares of PHR. Versor Investments LP bought a new stake in Phreesia in the third quarter worth $694,000. GSA Capital Partners LLP boosted its holdings in Phreesia by 418.3% in the third quarter. GSA Capital Partners LLP now owns 49,553 shares of the company’s stock worth $1,129,000 after purchasing an additional 39,993 shares in the last quarter. Quest Partners LLC boosted its holdings in Phreesia by 5,361.8% in the third quarter. Quest Partners LLC now owns 31,296 shares of the company’s stock worth $713,000 after purchasing an additional 30,723 shares in the last quarter. Intech Investment Management LLC bought a new stake in Phreesia in the third quarter worth $316,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Phreesia by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 447,239 shares of the company’s stock worth $10,193,000 after purchasing an additional 16,112 shares in the last quarter. 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.