Phreesia (NYSE:PHR) Price Target Raised to $35.00

Phreesia (NYSE:PHR) had its price target upped by DA Davidson from $33.00 to $35.00 in a research note published on Tuesday, MarketBeat.com reports. They currently have a buy rating on the stock.

A number of other research firms have also weighed in on PHR. Stephens reissued an “overweight” rating and set a $32.00 target price on shares of Phreesia in a report on Wednesday, September 3rd. Needham & Company LLC lifted their price objective on shares of Phreesia from $29.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Canaccord Genuity Group upped their price objective on shares of Phreesia from $34.00 to $38.00 and gave the company a “buy” rating in a report on Friday, September 5th. BMO Capital Markets initiated coverage on shares of Phreesia in a research report on Thursday, November 13th. They issued an “outperform” rating and a $32.00 price objective on the stock. Finally, Piper Sandler raised their target price on shares of Phreesia from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, September 5th. Fourteen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.86.

Phreesia Trading Up 0.6%

Shares of NYSE:PHR opened at $20.50 on Tuesday. Phreesia has a 52-week low of $18.55 and a 52-week high of $32.76. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.12 and a current ratio of 2.12. The company has a market capitalization of $1.23 billion, a P/E ratio of -48.80 and a beta of 0.64. The company has a 50-day simple moving average of $22.16 and a 200 day simple moving average of $25.31.

Phreesia (NYSE:PHR) last announced its quarterly earnings results on Thursday, September 4th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.08. Phreesia had a negative return on equity of 8.75% and a negative net margin of 5.35%.The firm had revenue of $117.26 million for the quarter, compared to the consensus estimate of $116.39 million. During the same quarter in the previous year, the business earned ($0.03) earnings per share. The business’s revenue was up 14.9% compared to the same quarter last year. Sell-side analysts forecast that Phreesia will post -1.1 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Evan Roberts sold 1,888 shares of Phreesia stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $22.36, for a total value of $42,215.68. Following the completion of the sale, the insider directly owned 724,949 shares in the company, valued at approximately $16,209,859.64. The trade was a 0.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Amy Beth Vanduyn sold 1,762 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $23.28, for a total value of $41,019.36. Following the completion of the sale, the senior vice president owned 112,479 shares of the company’s stock, valued at approximately $2,618,511.12. This trade represents a 1.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 26,174 shares of company stock worth $603,835. 5.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Phreesia

Hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. lifted its position in shares of Phreesia by 11.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 23,183 shares of the company’s stock valued at $593,000 after acquiring an additional 2,325 shares during the period. Mackenzie Financial Corp bought a new position in shares of Phreesia in the first quarter worth $414,000. Vanguard Group Inc. raised its stake in Phreesia by 2.4% in the first quarter. Vanguard Group Inc. now owns 4,936,515 shares of the company’s stock valued at $126,177,000 after purchasing an additional 113,405 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Phreesia by 5.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 522,384 shares of the company’s stock worth $13,352,000 after purchasing an additional 28,936 shares during the period. Finally, Deutsche Bank AG lifted its position in Phreesia by 30.6% during the first quarter. Deutsche Bank AG now owns 74,857 shares of the company’s stock worth $1,913,000 after purchasing an additional 17,560 shares during the period. 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.