Phreesia (NYSE:PHR) Upgraded by Wall Street Zen to Strong-Buy Rating

Wall Street Zen upgraded shares of Phreesia (NYSE:PHR) from a buy rating to a strong-buy rating in a research report released on Saturday.

Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. cut their target price on Phreesia from $32.00 to $29.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 9th. Mizuho dropped their price objective on shares of Phreesia from $36.00 to $28.00 and set an “outperform” rating for the company in a research note on Wednesday, December 10th. DA Davidson cut their price objective on shares of Phreesia from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, January 23rd. Citigroup lowered their target price on shares of Phreesia from $29.00 to $25.00 and set a “buy” rating for the company in a report on Friday, January 9th. Finally, KeyCorp dropped their price target on shares of Phreesia from $35.00 to $32.00 and set an “overweight” rating for the company in a research note on Wednesday, October 8th. Seventeen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Phreesia currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.76.

Phreesia Stock Performance

Phreesia stock opened at $13.41 on Friday. The company’s 50-day moving average price is $17.18 and its 200-day moving average price is $22.40. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.01. The company has a market cap of $808.49 million, a PE ratio of -134.09 and a beta of 0.61. Phreesia has a twelve month low of $13.40 and a twelve month high of $32.76.

Phreesia (NYSE:PHR) last announced its quarterly earnings results on Monday, December 8th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.11. Phreesia had a negative net margin of 1.16% and a negative return on equity of 1.31%. The firm had revenue of $120.33 million during the quarter, compared to the consensus estimate of $119.98 million. During the same quarter last year, the firm earned ($0.25) EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, equities research analysts forecast that Phreesia will post -1.1 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Evan Roberts sold 6,317 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $17.01, for a total transaction of $107,452.17. Following the transaction, the insider directly owned 834,632 shares of the company’s stock, valued at approximately $14,197,090.32. This trade represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Balaji Gandhi sold 8,009 shares of the business’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $17.01, for a total value of $136,233.09. Following the completion of the sale, the chief financial officer owned 156,231 shares of the company’s stock, valued at $2,657,489.31. The trade was a 4.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 60,766 shares of company stock worth $1,013,817 over the last ninety days. 5.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Phreesia by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 5,744,326 shares of the company’s stock worth $97,194,000 after buying an additional 39,540 shares during the period. Greenhouse Funds LLLP lifted its stake in Phreesia by 16.8% in the third quarter. Greenhouse Funds LLLP now owns 3,882,527 shares of the company’s stock worth $91,317,000 after acquiring an additional 557,265 shares during the period. Franklin Resources Inc. grew its holdings in Phreesia by 1.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,553,192 shares of the company’s stock worth $36,531,000 after acquiring an additional 28,941 shares in the last quarter. Granahan Investment Management LLC increased its position in Phreesia by 6.0% during the 3rd quarter. Granahan Investment Management LLC now owns 1,380,626 shares of the company’s stock valued at $32,472,000 after purchasing an additional 77,841 shares during the period. Finally, Geode Capital Management LLC increased its position in Phreesia by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,312,224 shares of the company’s stock valued at $37,351,000 after purchasing an additional 24,063 shares during the period. 92.10% of the stock is currently owned by hedge funds and other institutional investors.

Phreesia Company Profile

Phreesia, Inc (NYSE: PHR) is a provider of patient intake management solutions designed to streamline front-office workflows for healthcare organizations. The company’s cloud-based platform digitizes patient registration, appointment scheduling, insurance verification, consent documentation and payment collection through touchscreen kiosks, tablets and mobile devices. By replacing paper forms and manual processes, Phreesia enhances data accuracy, reduces administrative burden and improves the patient experience.

Founded in 2000 by Chaim Indig and headquartered in Burlington, Massachusetts, Phreesia offers a modular software suite that integrates with electronic medical record (EMR) and practice management systems.