Phreesia (NYSE:PHR) Hits New 1-Year Low on Analyst Downgrade

Phreesia, Inc. (NYSE:PHR) shares reached a new 52-week low during trading on Tuesday after Mizuho lowered their price target on the stock from $36.00 to $28.00. Mizuho currently has an outperform rating on the stock. Phreesia traded as low as $15.45 and last traded at $15.9730, with a volume of 1520937 shares changing hands. The stock had previously closed at $20.12.

PHR has been the subject of several other reports. Piper Sandler raised their price target on Phreesia from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. Canaccord Genuity Group dropped their target price on Phreesia from $38.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday. Truist Financial boosted their price target on shares of Phreesia from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. JMP Securities raised their price objective on shares of Phreesia from $30.00 to $34.00 and gave the company a “market outperform” rating in a research note on Monday, September 8th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Phreesia from $32.00 to $29.00 and set an “overweight” rating for the company in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.13.

Insiders Place Their Bets

In related news, SVP Amy Beth Vanduyn sold 1,762 shares of the firm’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 sale, the senior vice president owned 112,479 shares of the company’s stock, valued at $2,618,511.12. This trade represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David Linetsky sold 2,165 shares of Phreesia stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $23.28, for a total transaction of $50,401.20. Following the completion of the transaction, the insider owned 174,952 shares of the company’s stock, valued at $4,072,882.56. This represents a 1.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 26,174 shares of company stock worth $603,835. Corporate insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Phreesia

Hedge funds and other institutional investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new stake in Phreesia during the first quarter worth approximately $774,000. Farther Finance Advisors LLC grew its position in shares of Phreesia by 9,375.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,032 shares of the company’s stock valued at $86,000 after buying an additional 3,000 shares during the last quarter. Arcadia Investment Management Corp MI grew its position in shares of Phreesia by 22.3% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 113,470 shares of the company’s stock valued at $3,229,000 after buying an additional 20,700 shares during the last quarter. Acadian Asset Management LLC raised its stake in Phreesia by 61.6% during the 2nd quarter. Acadian Asset Management LLC now owns 364,194 shares of the company’s stock worth $10,357,000 after acquiring an additional 138,877 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in Phreesia by 30.6% in the first quarter. Deutsche Bank AG now owns 74,857 shares of the company’s stock valued at $1,913,000 after acquiring an additional 17,560 shares during the last quarter. 92.10% of the stock is currently owned by institutional investors and hedge funds.

Phreesia Trading Up 2.5%

The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $947.48 million, a PE ratio of -158.13 and a beta of 0.64. The business’s 50-day moving average is $21.73 and its two-hundred day moving average is $25.12.

Phreesia (NYSE:PHR) last posted its earnings results on Monday, December 8th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.11. Phreesia had a negative return on equity of 1.36% and a negative net margin of 1.16%.The business had revenue of $120.33 million for the quarter, compared to analysts’ expectations of $119.98 million. During the same quarter in the previous year, the firm earned ($0.25) earnings per share. The business’s revenue was up 12.7% compared to the same quarter last year. On average, analysts anticipate that Phreesia, Inc. will post -1.1 earnings per share for the current fiscal year.

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.