Piper Sandler Reaffirms “Overweight” Rating for Phreesia (NYSE:PHR)

Phreesia (NYSE:PHR)‘s stock had its “overweight” rating reaffirmed by stock analysts at Piper Sandler in a report issued on Wednesday,Benzinga reports. They currently have a $33.00 price objective on the stock, up from their prior price objective of $31.00. Piper Sandler’s price objective would suggest a potential upside of 11.52% from the company’s previous close.

Several other brokerages have also recently issued reports on PHR. Royal Bank of Canada raised Phreesia from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $24.00 to $32.00 in a research report on Wednesday, January 8th. KeyCorp lifted their price target on Phreesia from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Robert W. Baird dropped their price target on Phreesia from $34.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. JMP Securities reiterated a “market outperform” rating and set a $30.00 price target on shares of Phreesia in a report on Tuesday, December 10th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $29.00 price target on shares of Phreesia in a report on Friday, January 10th. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat.com, Phreesia presently has an average rating of “Buy” and an average price target of $31.15.

Phreesia Trading Up 1.0 %

Shares of Phreesia stock opened at $29.59 on Wednesday. The stock has a market capitalization of $1.72 billion, a PE ratio of -20.13 and a beta of 0.94. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.74 and a current ratio of 1.74. Phreesia has a 52 week low of $17.07 and a 52 week high of $29.45. The stock has a 50 day moving average price of $24.57 and a two-hundred day moving average price of $23.20.

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

Insiders Place Their Bets

In other news, CFO Balaji Gandhi sold 5,827 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $27.31, for a total value of $159,135.37. Following the completion of the sale, the chief financial officer now directly owns 141,846 shares in the company, valued at approximately $3,873,814.26. The trade was a 3.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Evan Roberts sold 2,681 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $27.95, for a total transaction of $74,933.95. Following the completion of the sale, the chief operating officer now owns 769,993 shares of the company’s stock, valued at approximately $21,521,304.35. The trade was a 0.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 131,883 shares of company stock valued at $3,248,465 in the last quarter. Corporate insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Phreesia

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PHR. Champlain Investment Partners LLC raised its holdings in Phreesia by 4.1% during the 3rd quarter. Champlain Investment Partners LLC now owns 2,503,837 shares of the company’s stock valued at $57,062,000 after buying an additional 97,847 shares during the last quarter. Sei Investments Co. raised its holdings in Phreesia by 135.3% during the 2nd quarter. Sei Investments Co. now owns 165,327 shares of the company’s stock valued at $3,505,000 after buying an additional 95,058 shares during the last quarter. State Street Corp raised its holdings in Phreesia by 7.1% during the 3rd quarter. State Street Corp now owns 1,327,586 shares of the company’s stock valued at $30,256,000 after buying an additional 88,517 shares during the last quarter. Geode Capital Management LLC raised its holdings in Phreesia by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,245,797 shares of the company’s stock worth $28,397,000 after purchasing an additional 55,934 shares in the last quarter. Finally, Barclays PLC raised its holdings in Phreesia by 83.6% in the 3rd quarter. Barclays PLC now owns 94,929 shares of the company’s stock worth $2,163,000 after purchasing an additional 43,225 shares in the last quarter. 92.10% of the stock is currently owned by institutional investors.

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.