Phreesia (NYSE:PHR) Stock Price Expected to Rise, Citigroup Analyst Says

Phreesia (NYSE:PHR) had its target price upped by Citigroup from $31.00 to $35.00 in a research report report published on Friday,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued reports about the stock. Robert W. Baird reduced their target price on shares of Phreesia from $34.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Truist Financial boosted their price target on shares of Phreesia from $31.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Royal Bank of Canada upgraded shares of Phreesia from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $24.00 to $32.00 in a research report on Wednesday. Needham & Company LLC restated a “buy” rating and set a $29.00 price target on shares of Phreesia in a research report on Friday. Finally, JMP Securities restated a “market outperform” rating and set a $30.00 price target on shares of Phreesia in a research report on Tuesday, December 10th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $31.00.

Phreesia Trading Down 5.9 %

Phreesia stock opened at $26.75 on Friday. The company has a quick ratio of 1.77, a current ratio of 1.74 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $22.87 and a two-hundred day moving average price of $22.62. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -18.20 and a beta of 0.94. Phreesia has a 52-week low of $17.07 and a 52-week high of $29.16.

Phreesia (NYSE:PHR) last posted its earnings results on Monday, December 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.04. The firm had revenue of $106.80 million during the quarter, compared to analyst estimates of $106.33 million. Phreesia had a negative net margin of 20.43% and a negative return on equity of 32.78%. Phreesia’s revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.58) EPS. Sell-side analysts expect that Phreesia will post -1.16 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Evan Roberts sold 2,681 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $27.95, for a total transaction of $74,933.95. Following the sale, the chief operating officer now owns 769,993 shares in the company, valued at $21,521,304.35. The trade was a 0.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Allison C. Hoffman sold 3,982 shares of the business’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 transaction of $105,961.02. Following the sale, the general counsel now owns 159,137 shares in the company, valued at $4,234,635.57. This represents a 2.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,384 shares of company stock worth $2,418,475 in the last ninety days. 5.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Phreesia

A number of large investors have recently made changes to their positions in the company. Champlain Investment Partners LLC grew its position in Phreesia by 4.1% during the third quarter. Champlain Investment Partners LLC now owns 2,503,837 shares of the company’s stock valued at $57,062,000 after purchasing an additional 97,847 shares in the last quarter. Franklin Resources Inc. grew its position in Phreesia by 3.0% during the third quarter. Franklin Resources Inc. now owns 1,497,631 shares of the company’s stock valued at $31,495,000 after purchasing an additional 42,973 shares in the last quarter. State Street Corp grew its position in Phreesia by 7.1% during the third quarter. State Street Corp now owns 1,327,586 shares of the company’s stock valued at $30,256,000 after purchasing an additional 88,517 shares in the last quarter. Geode Capital Management LLC grew its position in Phreesia by 4.7% during the third quarter. Geode Capital Management LLC now owns 1,245,797 shares of the company’s stock valued at $28,397,000 after purchasing an additional 55,934 shares in the last quarter. Finally, TimesSquare Capital Management LLC grew its position in Phreesia by 2.3% during the third quarter. TimesSquare Capital Management LLC now owns 868,409 shares of the company’s stock valued at $19,791,000 after purchasing an additional 19,395 shares in the last quarter. Institutional investors and hedge funds own 92.10% of the company’s stock.

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.