Phreesia (NYSE:PHR) Trading Down 6.7% – What’s Next?

Phreesia, Inc. (NYSE:PHR) dropped 6.7% during mid-day trading on Monday . The company traded as low as $11.45 and last traded at $11.46. Approximately 388,277 shares changed hands during trading, a decline of 75% from the average session volume of 1,548,201 shares. The stock had previously closed at $12.28.

Wall Street Analyst Weigh In

PHR has been the topic of several research reports. Citigroup reissued a “market perform” rating on shares of Phreesia in a report on Friday, May 29th. Wall Street Zen upgraded Phreesia from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. Truist Financial lifted their price target on Phreesia from $11.00 to $12.00 and gave the company a “hold” rating in a report on Thursday, May 28th. Weiss Ratings raised Phreesia from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, July 20th. Finally, Barclays reaffirmed an “equal weight” rating and set a $10.00 price objective (down from $24.00) on shares of Phreesia in a research report on Thursday, May 14th. Nine equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $16.65.

Phreesia Price Performance

The stock’s 50-day moving average is $10.52 and its 200 day moving average is $10.59. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.76 and a quick ratio of 1.76. The company has a market cap of $709.58 million, a PE ratio of 76.53 and a beta of 0.85.

Phreesia (NYSE:PHR) last announced its earnings results on Wednesday, May 27th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.03. Phreesia had a net margin of 1.85% and a return on equity of 5.13%. The company had revenue of $130.94 million during the quarter, compared to the consensus estimate of $130.08 million. During the same period last year, the firm earned ($0.07) earnings per share. Phreesia’s revenue was up 12.9% compared to the same quarter last year. On average, equities analysts anticipate that Phreesia, Inc. will post 0.39 earnings per share for the current fiscal year.

Institutional Trading of Phreesia

Institutional investors have recently made changes to their positions in the business. Pale Fire Capital SE purchased a new position in Phreesia during the 1st quarter worth $72,481,000. BlackRock Inc. purchased a new stake in Phreesia in the second quarter valued at about $72,234,000. Vanguard Group Inc. raised its stake in Phreesia by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 5,744,326 shares of the company’s stock valued at $97,194,000 after buying an additional 39,540 shares during the last quarter. Granahan Investment Management LLC boosted its holdings in Phreesia by 73.8% in the fourth quarter. Granahan Investment Management LLC now owns 2,399,613 shares of the company’s stock worth $40,601,000 after acquiring an additional 1,018,987 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Phreesia by 28.8% in the fourth quarter. Franklin Resources Inc. now owns 2,000,082 shares of the company’s stock worth $33,841,000 after acquiring an additional 446,890 shares in the last quarter. Institutional investors and hedge funds own 92.10% of the company’s stock.

About Phreesia

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.