Phreesia (NYSE:PHR) Price Target Increased to $63.50 by Analysts at Piper Sandler

Phreesia (NYSE:PHR) had its target price lifted by Piper Sandler from $58.00 to $63.50 in a research note released on Monday, The Fly reports. They currently have an overweight rating on the stock. Piper Sandler also issued estimates for Phreesia’s Q2 2022 earnings at ($0.23) EPS, Q3 2022 earnings at ($0.21) EPS, Q4 2022 earnings at ($0.18) EPS, FY2022 earnings at ($0.86) EPS, Q1 2023 earnings at ($0.18) EPS, Q2 2023 earnings at ($0.17) EPS, Q3 2023 earnings at ($0.17) EPS, FY2023 earnings at ($0.66) EPS and FY2024 earnings at ($0.53) EPS.

Several other analysts also recently issued reports on the company. KeyCorp cut their price objective on Phreesia from $80.00 to $70.00 and set an overweight rating on the stock in a report on Wednesday, March 31st. They noted that the move was a valuation call. SVB Leerink restated a buy rating on shares of Phreesia in a report on Sunday, June 6th. Zacks Investment Research downgraded Phreesia from a hold rating to a sell rating in a report on Wednesday, April 14th. Robert W. Baird started coverage on Phreesia in a report on Thursday, April 1st. They issued an outperform rating and a $60.00 target price on the stock. Finally, JPMorgan Chase & Co. started coverage on Phreesia in a report on Thursday, April 29th. They issued an overweight rating on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. Phreesia currently has an average rating of Buy and a consensus price target of $56.96.

Shares of Phreesia stock opened at $57.41 on Monday. The business has a 50-day simple moving average of $50.14. The company has a current ratio of 4.95, a quick ratio of 4.95 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $2.90 billion, a PE ratio of -84.43 and a beta of 1.18. Phreesia has a 52 week low of $26.20 and a 52 week high of $81.59.

Phreesia (NYSE:PHR) last posted its quarterly earnings data on Monday, June 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.06). The company had revenue of $48.30 million for the quarter, compared to analyst estimates of $42.82 million. Phreesia had a negative return on equity of 14.94% and a negative net margin of 18.36%. Phreesia’s quarterly revenue was up 44.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.16) EPS. Equities research analysts anticipate that Phreesia will post -0.68 EPS for the current fiscal year.

In other news, insider Michael J. Davidoff sold 2,134 shares of the stock in a transaction that occurred on Friday, April 9th. The stock was sold at an average price of $50.51, for a total value of $107,788.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP David Linetsky sold 48,482 shares of the stock in a transaction that occurred on Monday, March 15th. The shares were sold at an average price of $61.15, for a total value of $2,964,674.30. The disclosure for this sale can be found here. Insiders have sold 65,616 shares of company stock valued at $3,896,563 in the last ninety days. Company insiders own 28.20% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Voloridge Investment Management LLC raised its stake in shares of Phreesia by 45.0% in the first quarter. Voloridge Investment Management LLC now owns 137,871 shares of the company’s stock valued at $7,183,000 after purchasing an additional 42,760 shares in the last quarter. Select Equity Group L.P. raised its stake in Phreesia by 234.1% during the first quarter. Select Equity Group L.P. now owns 23,934 shares of the company’s stock worth $1,247,000 after acquiring an additional 16,771 shares in the last quarter. D. E. Shaw & Co. Inc. raised its stake in Phreesia by 43.1% during the first quarter. D. E. Shaw & Co. Inc. now owns 127,276 shares of the company’s stock worth $6,631,000 after acquiring an additional 38,324 shares in the last quarter. Verition Fund Management LLC acquired a new position in Phreesia during the first quarter worth $328,000. Finally, Caxton Associates LP acquired a new position in Phreesia during the first quarter worth $243,000. Institutional investors and hedge funds own 92.90% 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. Its Phreesia Platform offers a suite of solutions to manage the patient intake process, as well as an integrated payments solution for processing of patient payments.

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