Phreesia (NYSE:PHR) Sets New 1-Year High – Here’s What Happened

Phreesia, Inc. (NYSE:PHR)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $29.36 and last traded at $29.25, with a volume of 641745 shares trading hands. The stock had previously closed at $26.98.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PHR shares. Truist Financial lifted their price target on Phreesia from $31.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Needham & Company LLC reissued a “buy” rating and issued a $29.00 target price on shares of Phreesia in a research report on Friday, January 10th. Robert W. Baird reduced their price target on shares of Phreesia from $34.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. JMP Securities restated a “market outperform” rating and set a $30.00 target price on shares of Phreesia in a research report on Tuesday, December 10th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $33.00 price target (up from $31.00) on shares of Phreesia in a research report on Wednesday. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat, Phreesia presently has an average rating of “Buy” and a consensus price target of $31.15.

Phreesia Stock Performance

The firm has a 50 day moving average price of $24.78 and a 200 day moving average price of $23.24. The stock has a market cap of $1.69 billion, a PE ratio of -19.75 and a beta of 0.94. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.04.

Phreesia (NYSE:PHR) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $106.33 million. Phreesia had a negative net margin of 20.43% and a negative return on equity of 32.78%. The company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period last year, the firm earned ($0.58) earnings per share. As a group, research analysts forecast that Phreesia, Inc. will post -1.1 earnings per share for the current year.

Insider Buying and Selling at Phreesia

In other Phreesia news, CFO Balaji Gandhi sold 3,195 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 $85,018.95. Following the sale, the chief financial officer now owns 148,509 shares of the company’s stock, valued at approximately $3,951,824.49. The trade was a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Weintraub sold 15,152 shares of Phreesia stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $21.01, for a total transaction of $318,343.52. Following the sale, the director now owns 242,827 shares of the company’s stock, valued at $5,101,795.27. The trade was a 5.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 165,653 shares of company stock worth $4,176,464 over the last three months. Corporate insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Phreesia

Large investors have recently bought and sold shares of the company. R Squared Ltd purchased a new stake in shares of Phreesia in the 4th quarter valued at $30,000. International Assets Investment Management LLC lifted its position in Phreesia by 2,179.7% during the third quarter. International Assets Investment Management LLC now owns 1,459 shares of the company’s stock valued at $33,000 after purchasing an additional 1,395 shares during the period. XTX Topco Ltd purchased a new stake in Phreesia in the third quarter valued at $247,000. Hsbc Holdings PLC acquired a new stake in Phreesia during the 2nd quarter worth about $301,000. Finally, Intech Investment Management LLC purchased a new position in shares of Phreesia during the 3rd quarter valued at about $316,000. Hedge funds and other 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.