Phreesia (NYSE:PHR) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of Phreesia (NYSE:PHR) in a research note issued to investors on Friday, Benzinga reports. They currently have a $23.00 price target on the stock.

A number of other equities research analysts have also recently commented on the company. Robert W. Baird raised their price target on Phreesia from $31.00 to $34.00 and gave the company an outperform rating in a report on Friday, September 6th. DA Davidson reissued a buy rating and set a $32.00 price target on shares of Phreesia in a report on Thursday, September 5th. JMP Securities reissued a market outperform rating and set a $30.00 price target on shares of Phreesia in a report on Thursday, September 5th. Needham & Company LLC reissued a buy rating and set a $29.00 price target 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 company a buy rating in a report on Friday, September 6th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $29.42.

Phreesia Price Performance

NYSE PHR opened at $22.72 on Friday. The company has a market capitalization of $1.31 billion, a PE ratio of -10.47 and a beta of 0.93. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The business’s fifty day moving average is $24.02 and its 200 day moving average is $22.63. Phreesia has a fifty-two week low of $12.05 and a fifty-two week high of $29.16.

Phreesia (NYSE:PHR) last released its earnings results on Wednesday, September 4th. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.06. The company had revenue of $102.12 million for the quarter, compared to the consensus estimate of $101.76 million. Phreesia had a negative return on equity of 39.34% and a negative net margin of 25.73%. Sell-side analysts predict that Phreesia will post -1.23 earnings per share for the current year.

Insider Buying and Selling at Phreesia

In other Phreesia news, COO Evan Roberts sold 1,669 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $23.74, for a total transaction of $39,622.06. Following the sale, the chief operating officer now directly owns 753,234 shares in the company, valued at $17,881,775.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Phreesia news, CFO Balaji Gandhi sold 3,502 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $23.25, for a total transaction of $81,421.50. Following the sale, the chief financial officer now directly owns 98,578 shares in the company, valued at $2,291,938.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Evan Roberts sold 1,669 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $23.74, for a total value of $39,622.06. Following the transaction, the chief operating officer now directly owns 753,234 shares in the company, valued at approximately $17,881,775.16. The disclosure for this sale can be found here. Insiders have sold a total of 46,203 shares of company stock worth $1,129,699 over the last ninety days. Company insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Phreesia by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 4,628,441 shares of the company’s stock valued at $107,148,000 after buying an additional 194,035 shares during the last quarter. Capital International Investors grew its stake in shares of Phreesia by 221.1% during the first quarter. Capital International Investors now owns 2,593,063 shares of the company’s stock valued at $62,052,000 after buying an additional 1,785,463 shares during the last quarter. Champlain Investment Partners LLC bought a new position in shares of Phreesia during the first quarter valued at approximately $29,941,000. Ophir Asset Management Pty Ltd grew its stake in shares of Phreesia by 24.1% during the fourth quarter. Ophir Asset Management Pty Ltd now owns 1,099,505 shares of the company’s stock valued at $25,454,000 after buying an additional 213,805 shares during the last quarter. Finally, Blair William & Co. IL grew its stake in shares of Phreesia by 42.6% during the first quarter. Blair William & Co. IL now owns 752,700 shares of the company’s stock valued at $18,012,000 after buying an additional 224,950 shares during the last quarter. 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.