Phreesia (NYSE:PHR) Sets New 52-Week High – Time to Buy?

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

Analysts Set New Price Targets

A number of analysts recently commented on PHR shares. Royal Bank of Canada upgraded Phreesia from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $24.00 to $32.00 in a report on Wednesday, January 8th. Robert W. Baird cut their price target on shares of Phreesia from $34.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. Needham & Company LLC restated a “buy” rating and set a $29.00 price objective on shares of Phreesia in a report on Friday, January 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, Citigroup raised their price target on shares of Phreesia from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $31.00.

Phreesia Stock Up 8.4 %

The business’s 50 day moving average is $24.36 and its two-hundred day moving average is $23.15. 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 company had revenue of $106.80 million for the quarter, compared to analyst estimates of $106.33 million. Phreesia had a negative return on equity of 32.78% and a negative net margin of 20.43%. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.58) EPS. Sell-side analysts forecast that Phreesia, Inc. will post -1.1 EPS for the current year.

Insider Transactions at Phreesia

In other Phreesia news, General Counsel Allison C. Hoffman sold 3,495 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $24.88, for a total value of $86,955.60. Following the transaction, the general counsel now directly owns 116,296 shares in the company, valued at $2,893,444.48. This represents a 2.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Weintraub sold 15,152 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $21.01, for a total value of $318,343.52. Following the completion of the sale, the director now directly owns 242,827 shares in the company, valued at approximately $5,101,795.27. The trade was a 5.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 131,883 shares of company stock valued at $3,248,465. 5.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Phreesia

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Hsbc Holdings PLC bought a new stake in shares of Phreesia during the 2nd quarter worth $301,000. Sei Investments Co. lifted its stake in Phreesia by 135.3% during the second quarter. Sei Investments Co. now owns 165,327 shares of the company’s stock worth $3,505,000 after purchasing an additional 95,058 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Phreesia by 56.3% in the 2nd quarter. Squarepoint Ops LLC now owns 250,396 shares of the company’s stock worth $5,308,000 after purchasing an additional 90,215 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Phreesia during the 3rd quarter valued at about $954,000. Finally, Diversified Trust Co raised its holdings in shares of Phreesia by 12.9% during the 3rd quarter. Diversified Trust Co now owns 24,356 shares of the company’s stock valued at $555,000 after buying an additional 2,782 shares in the last quarter. Hedge funds and other 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.