Phreesia (NYSE:PHR) Earns Buy Rating from Needham & Company LLC

Phreesia (NYSE:PHR)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research report issued on Tuesday,Benzinga reports. They currently have a $29.00 price target on the stock. Needham & Company LLC’s price objective suggests a potential upside of 34.07% from the stock’s current price.

Several other equities research analysts have also commented on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $34.00 price target on shares of Phreesia in a research report on Thursday, September 5th. JMP Securities reaffirmed a “market outperform” rating and set a $30.00 price target on shares of Phreesia in a research note on Thursday, September 5th. JPMorgan Chase & Co. boosted their target price on shares of Phreesia from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Robert W. Baird increased their price target on shares of Phreesia from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $23.00 price objective on shares of Phreesia in a research report on Friday, September 27th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Phreesia currently has an average rating of “Moderate Buy” and a consensus target price of $29.42.

Phreesia Price Performance

PHR opened at $21.63 on Tuesday. The firm has a market cap of $1.25 billion, a PE ratio of -12.02 and a beta of 0.98. The stock has a 50-day moving average price of $20.26 and a 200-day moving average price of $21.75. Phreesia has a 1 year low of $17.07 and a 1 year high of $29.16. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.

Phreesia (NYSE:PHR) last issued its earnings results on Monday, December 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.04. Phreesia had a negative net margin of 25.73% and a negative return on equity of 39.34%. The business had revenue of $106.80 million during the quarter, compared to analysts’ expectations of $106.33 million. During the same period in the previous year, the company earned ($0.58) earnings per share. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. Sell-side analysts predict that Phreesia will post -1.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Phreesia news, SVP David Linetsky sold 2,011 shares of Phreesia stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $21.03, for a total value of $42,291.33. Following the transaction, the senior vice president now directly owns 201,307 shares of the company’s stock, valued at approximately $4,233,486.21. The trade was a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Amy Beth Vanduyn sold 25,447 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $20.93, for a total value of $532,605.71. Following the sale, the senior vice president now owns 93,470 shares of the company’s stock, valued at approximately $1,956,327.10. This represents a 21.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 53,569 shares of company stock worth $1,123,014 over the last 90 days. Company insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Diversified Trust Co grew its stake in shares of Phreesia by 102.0% during the second quarter. Diversified Trust Co now owns 21,574 shares of the company’s stock worth $457,000 after acquiring an additional 10,893 shares during the last quarter. Bank of New York Mellon Corp grew its position in Phreesia by 8.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 214,430 shares of the company’s stock worth $4,546,000 after purchasing an additional 16,614 shares during the last quarter. Peregrine Capital Management LLC increased its stake in Phreesia by 11.3% during the 2nd quarter. Peregrine Capital Management LLC now owns 354,607 shares of the company’s stock valued at $7,518,000 after purchasing an additional 36,047 shares in the last quarter. nVerses Capital LLC raised its holdings in shares of Phreesia by 76.5% in the second quarter. nVerses Capital LLC now owns 3,000 shares of the company’s stock worth $64,000 after buying an additional 1,300 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Phreesia by 1.0% during the second quarter. Rhumbline Advisers now owns 82,136 shares of the company’s stock worth $1,741,000 after buying an additional 853 shares during the period. 92.10% of the stock is owned by institutional investors and hedge funds.

About Phreesia

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.