Needham & Company LLC Reaffirms Buy Rating for Phreesia (NYSE:PHR)

Phreesia (NYSE:PHR)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $29.00 price target on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 17.03% from the stock’s current price.

Several other analysts have also recently weighed in on PHR. Robert W. Baird lifted their price objective on shares of Phreesia from $31.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. increased their price target on Phreesia from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. DA Davidson reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Phreesia in a report on Thursday, September 5th. JMP Securities reissued a “market outperform” rating and set a $30.00 target price on shares of Phreesia in a report on Thursday, September 5th. Finally, Truist Financial raised their price target on Phreesia from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Phreesia currently has an average rating of “Moderate Buy” and an average price target of $29.33.

Phreesia Trading Up 2.7 %

Shares of PHR stock opened at $24.78 on Tuesday. Phreesia has a 12-month low of $17.07 and a 12-month high of $29.16. The company has a market capitalization of $1.43 billion, a PE ratio of -13.91 and a beta of 0.98. The firm has a 50 day moving average price of $20.29 and a two-hundred day moving average price of $21.76. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.

Phreesia (NYSE:PHR) last released 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 business had revenue of $106.80 million during the quarter, compared to the consensus estimate of $106.33 million. Phreesia had a negative return on equity of 39.34% and a negative net margin of 25.73%. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.58) EPS. As a group, analysts predict that Phreesia will post -1.23 earnings per share for the current year.

Insider Buying and Selling at Phreesia

In related news, SVP Amy Beth Vanduyn sold 25,447 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $20.93, for a total transaction of $532,605.71. Following the sale, the senior vice president now owns 93,470 shares of the company’s stock, valued at $1,956,327.10. This trade represents a 21.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Chaim Indig sold 3,089 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 1,220,647 shares in the company, valued at $25,670,206.41. This represents a 0.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 53,569 shares of company stock worth $1,123,014 over the last 90 days. Insiders own 5.80% of the company’s stock.

Institutional Trading of Phreesia

A number of hedge funds have recently made changes to their positions in the company. Diversified Trust Co increased its stake in shares of Phreesia by 102.0% in the second quarter. Diversified Trust Co now owns 21,574 shares of the company’s stock valued at $457,000 after buying an additional 10,893 shares during the period. Bank of New York Mellon Corp increased its position in Phreesia by 8.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 214,430 shares of the company’s stock valued at $4,546,000 after acquiring an additional 16,614 shares during the period. Peregrine Capital Management LLC raised its stake 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 valued at $7,518,000 after acquiring an additional 36,047 shares during the last quarter. nVerses Capital LLC lifted its holdings in shares of Phreesia by 76.5% during the second quarter. nVerses Capital LLC now owns 3,000 shares of the company’s stock worth $64,000 after purchasing an additional 1,300 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of Phreesia by 1.0% during the second quarter. Rhumbline Advisers now owns 82,136 shares of the company’s stock worth $1,741,000 after purchasing an additional 853 shares during the period. 92.10% of the stock is 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.