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

Phreesia (NYSE:PHR)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They presently have a $29.00 price objective on the stock. Needham & Company LLC’s target price suggests a potential upside of 21.08% from the stock’s current price.

PHR has been the topic of several other research reports. KeyCorp increased their price target on shares of Phreesia from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Royal Bank of Canada raised shares of Phreesia from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $24.00 to $32.00 in a report on Wednesday, January 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $30.00 price target on shares of Phreesia in a report on Tuesday, December 10th. Citigroup lifted their price objective on Phreesia from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, Piper Sandler restated an “overweight” rating and issued a $33.00 target price (up previously from $31.00) on shares of Phreesia in a research note on Wednesday, January 29th. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Phreesia has a consensus rating of “Buy” and a consensus price target of $31.15.

Phreesia Trading Up 3.1 %

NYSE:PHR opened at $23.95 on Thursday. The company has a market capitalization of $1.39 billion, a P/E ratio of -16.29 and a beta of 1.03. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.04. Phreesia has a 12 month low of $17.07 and a 12 month high of $30.53. The firm has a fifty day simple moving average of $27.32 and a 200-day simple moving average of $23.99.

Phreesia (NYSE:PHR) last posted its quarterly earnings results on Monday, December 9th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.04. Phreesia had a negative return on equity of 32.78% and a negative net margin of 20.43%. The business had revenue of $106.80 million for the quarter, compared to the consensus estimate of $106.33 million. During the same quarter in the previous year, the business earned ($0.58) EPS. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, equities research analysts anticipate that Phreesia will post -1.1 earnings per share for the current year.

Insiders Place Their Bets

In other Phreesia news, SVP David Linetsky sold 11,685 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $27.48, for a total transaction of $321,103.80. Following the completion of the sale, the senior vice president now directly owns 231,271 shares in the company, valued at approximately $6,355,327.08. The trade was a 4.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Amy Beth Vanduyn sold 1,311 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $26.61, for a total value of $34,885.71. Following the completion of the transaction, the senior vice president now owns 115,633 shares in the company, valued at approximately $3,076,994.13. This trade represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 183,887 shares of company stock worth $5,146,862. 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 company. Johnson Financial Group Inc. grew its holdings in shares of Phreesia by 381.3% during the fourth quarter. Johnson Financial Group Inc. now owns 1,131 shares of the company’s stock worth $28,000 after buying an additional 896 shares in the last quarter. R Squared Ltd purchased a new stake in Phreesia during the 4th quarter valued at about $30,000. BankPlus Trust Department acquired a new stake in Phreesia in the 4th quarter valued at about $34,000. Quarry LP lifted its stake in Phreesia by 210.9% in the 4th quarter. Quarry LP now owns 2,835 shares of the company’s stock worth $71,000 after purchasing an additional 1,923 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in shares of Phreesia during the 4th quarter worth approximately $76,000. 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.