Phreesia (NYSE:PHR) Shares Down 2.4% – What’s Next?

Phreesia, Inc. (NYSE:PHR) traded down 2.4% during trading on Friday . The company traded as low as $24.62 and last traded at $24.84. 107,533 shares traded hands during trading, a decline of 74% from the average session volume of 418,204 shares. The stock had previously closed at $25.45.

Analysts Set New Price Targets

Several equities analysts have recently commented on PHR shares. Truist Financial increased their target price on Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Citigroup boosted their price objective on Phreesia from $31.00 to $35.00 and gave the company a “buy” rating in a report on Friday, January 10th. Canaccord Genuity Group increased their target price on Phreesia from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $29.00 price objective on shares of Phreesia in a research report on Thursday. Finally, JMP Securities restated a “market outperform” rating and set a $30.00 price objective on shares of Phreesia in a research report on Tuesday, December 10th. Thirteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $31.23.

Phreesia Stock Down 1.1 %

The stock’s fifty day simple moving average is $27.32 and its two-hundred day simple moving average is $24.00. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of -17.13 and a beta of 1.03. 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 (NYSE:PHR) last posted its quarterly 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 20.43% and a negative return on equity of 32.78%. The firm had revenue of $106.80 million for the quarter, compared to analyst estimates of $106.33 million. During the same quarter in the previous year, the business posted ($0.58) earnings per share. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Phreesia, Inc. will post -1.1 EPS for the current year.

Insiders Place Their Bets

In related news, General Counsel Allison C. Hoffman sold 3,495 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $24.88, for a total value of $86,955.60. Following the sale, the general counsel now owns 116,296 shares of the company’s stock, valued at $2,893,444.48. The trade was a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Balaji Gandhi sold 28,759 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $30.00, for a total value of $862,770.00. Following the completion of the sale, the chief financial officer now owns 116,174 shares in the company, valued at approximately $3,485,220. This represents a 19.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 163,322 shares of company stock worth $4,631,915. Company insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Phreesia

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Phreesia by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 4,823,110 shares of the company’s stock worth $121,349,000 after acquiring an additional 61,048 shares in the last quarter. Greenhouse Funds LLLP boosted its stake in Phreesia by 27.9% in the fourth quarter. Greenhouse Funds LLLP now owns 2,873,892 shares of the company’s stock worth $72,307,000 after purchasing an additional 626,579 shares in the last quarter. Champlain Investment Partners LLC grew its holdings in shares of Phreesia by 4.1% during the third quarter. Champlain Investment Partners LLC now owns 2,503,837 shares of the company’s stock worth $57,062,000 after purchasing an additional 97,847 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Phreesia by 0.8% in the fourth quarter. Franklin Resources Inc. now owns 1,509,617 shares of the company’s stock valued at $37,982,000 after buying an additional 11,986 shares during the last quarter. Finally, State Street Corp increased its position in Phreesia by 7.1% in the 3rd quarter. State Street Corp now owns 1,327,586 shares of the company’s stock valued at $30,256,000 after acquiring an additional 88,517 shares in the last quarter. Institutional investors 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.