Phreesia (NYSE:PHR) Shares Gap Up Following Analyst Upgrade

Phreesia, Inc. (NYSE:PHR) shares gapped up before the market opened on Wednesday after Citigroup raised their price target on the stock from $31.00 to $35.00. The stock had previously closed at $26.98, but opened at $27.67. Citigroup currently has a buy rating on the stock. Phreesia shares last traded at $27.30, with a volume of 42,629 shares trading hands.

Other analysts have also recently issued reports about the stock. KeyCorp increased their price objective on shares of Phreesia from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Wednesday. Royal Bank of Canada raised Phreesia from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $24.00 to $32.00 in a research note on Wednesday. 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. Truist Financial boosted their target price on shares of Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Robert W. Baird reduced their price objective on Phreesia from $34.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Phreesia presently has an average rating of “Buy” and a consensus target price of $31.00.

Insider Buying and Selling at Phreesia

In other news, COO Evan Roberts sold 2,873 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $26.61, for a total value of $76,450.53. Following the sale, the chief operating officer now directly owns 779,993 shares in the company, valued at approximately $20,755,613.73. This trade represents a 0.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Allison C. Hoffman sold 1,212 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $21.03, for a total transaction of $25,488.36. Following the transaction, the general counsel now owns 119,791 shares of the company’s stock, valued at approximately $2,519,204.73. The trade was a 1.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,703 shares of company stock valued at $2,343,541 over the last quarter. 5.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC lifted its position in shares of Phreesia by 2,179.7% during the 3rd quarter. International Assets Investment Management LLC now owns 1,459 shares of the company’s stock worth $33,000 after buying an additional 1,395 shares during the last quarter. Lombard Odier Asset Management USA Corp purchased a new stake in Phreesia in the second quarter valued at $202,000. Point72 DIFC Ltd acquired a new position in Phreesia in the second quarter valued at $209,000. XTX Topco Ltd purchased a new position in shares of Phreesia during the third quarter worth about $247,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Phreesia during the second quarter worth about $301,000. Hedge funds and other institutional investors own 92.10% of the company’s stock.

Phreesia Price Performance

The firm has a market capitalization of $1.55 billion, a PE ratio of -18.20 and a beta of 0.94. The company has a current ratio of 1.74, a quick ratio of 1.77 and a debt-to-equity ratio of 0.04. The company has a fifty day moving average price of $22.70 and a two-hundred day moving average price of $22.57.

Phreesia (NYSE:PHR) last announced its earnings results on Monday, December 9th. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $106.80 million for the quarter, compared to analysts’ expectations of $106.33 million. During the same period in the previous year, the company posted ($0.58) EPS. The company’s quarterly revenue was up 16.6% on a year-over-year basis. Sell-side analysts forecast that Phreesia, Inc. will post -1.16 earnings per share for the current year.

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.