Phreesia’s (PHR) Sector Perform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of Phreesia (NYSE:PHR) in a report issued on Friday, Benzinga reports. They currently have a $23.00 target price on the stock.

Other equities research analysts have also issued research reports about the company. Robert W. Baird raised their price objective on Phreesia from $31.00 to $34.00 and gave the company an outperform rating in a research note on Friday, September 6th. Needham & Company LLC reissued a buy rating and set a $29.00 price target on shares of Phreesia in a research report on Thursday, September 5th. Canaccord Genuity Group restated a buy rating and issued a $34.00 price target on shares of Phreesia in a research note on Thursday, September 5th. JMP Securities reiterated a market outperform rating and set a $30.00 price objective on shares of Phreesia in a research note on Thursday, September 5th. Finally, Truist Financial raised their price objective on shares of Phreesia from $29.00 to $31.00 and gave the stock a buy rating in a report on Friday, September 6th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $29.42.

Phreesia Trading Up 0.3 %

PHR opened at $22.79 on Friday. The firm’s 50 day moving average is $24.01 and its 200-day moving average is $22.63. Phreesia has a 52-week low of $12.05 and a 52-week high of $29.16. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.32 billion, a P/E ratio of -10.50 and a beta of 0.93.

Phreesia (NYSE:PHR) last released its quarterly earnings results on Wednesday, September 4th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.06. The firm had revenue of $102.12 million for the quarter, compared to the consensus estimate of $101.76 million. Phreesia had a negative net margin of 25.73% and a negative return on equity of 39.34%. Analysts expect that Phreesia will post -1.23 EPS for the current fiscal year.

Insider Activity

In related news, CFO Balaji Gandhi sold 3,502 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $23.25, for a total transaction of $81,421.50. Following the sale, the chief financial officer now owns 98,578 shares in the company, valued at $2,291,938.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP David Linetsky sold 1,820 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $23.74, for a total value of $43,206.80. Following the sale, the senior vice president now owns 202,218 shares of the company’s stock, valued at approximately $4,800,655.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Balaji Gandhi sold 3,502 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $23.25, for a total value of $81,421.50. Following the transaction, the chief financial officer now owns 98,578 shares of the company’s stock, valued at $2,291,938.50. The disclosure for this sale can be found here. In the last three months, insiders sold 46,203 shares of company stock valued at $1,129,699. Company insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Phreesia

Several hedge funds and other institutional investors have recently modified their holdings of PHR. Select Equity Group L.P. increased its holdings in shares of Phreesia by 14.7% in the 2nd quarter. Select Equity Group L.P. now owns 15,858 shares of the company’s stock worth $336,000 after acquiring an additional 2,028 shares during the period. Deerfield Management Company L.P. Series C bought a new position in Phreesia in the 2nd quarter worth about $4,078,000. Squarepoint Ops LLC increased its stake in shares of Phreesia by 56.3% in the second quarter. Squarepoint Ops LLC now owns 250,396 shares of the company’s stock valued at $5,308,000 after purchasing an additional 90,215 shares during the period. Point72 DIFC Ltd bought a new stake in shares of Phreesia during the second quarter valued at approximately $209,000. Finally, Lombard Odier Asset Management USA Corp acquired a new position in shares of Phreesia during the second quarter worth approximately $202,000. Institutional investors and hedge funds 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.