Canaccord Genuity Group Increases Phreesia (NYSE:PHR) Price Target to $35.00

Phreesia (NYSE:PHR) had its target price raised by stock analysts at Canaccord Genuity Group from $34.00 to $35.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 37.36% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on PHR. Needham & Company LLC reissued a “buy” rating and set a $29.00 target price on shares of Phreesia in a report on Thursday. KeyCorp lifted their target price on Phreesia from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Truist Financial increased their price target on shares of Phreesia from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Royal Bank of Canada raised shares of Phreesia from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $24.00 to $32.00 in a research note on Wednesday, January 8th. Finally, Robert W. Baird lowered their target price on shares of Phreesia from $34.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 11th. Thirteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $31.23.

Phreesia Stock Performance

Shares of NYSE PHR traded up $1.68 during trading on Thursday, reaching $25.48. 474,147 shares of the stock traded hands, compared to its average volume of 408,761. The company has a 50-day moving average of $27.32 and a 200-day moving average of $23.99. Phreesia has a 52-week low of $17.07 and a 52-week high of $30.53. The stock has a market capitalization of $1.48 billion, a P/E ratio of -17.33 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.74 and a quick ratio of 1.74.

Phreesia (NYSE:PHR) last issued its earnings results on Monday, December 9th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.04. The firm had revenue of $106.80 million during the quarter, compared to analyst estimates 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 quarter last year, the business earned ($0.58) earnings per share. Analysts forecast that Phreesia will post -1.1 EPS for the current fiscal year.

Insider Activity

In other Phreesia news, Director Michael Weintraub sold 20,565 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $25.04, for a total value of $514,947.60. Following the sale, the director now owns 242,827 shares in the company, valued at approximately $6,080,388.08. This represents a 7.81 % decrease in their ownership of the stock. 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 3,496 shares of Phreesia stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $29.72, for a total transaction of $103,901.12. Following the transaction, the general counsel now owns 142,630 shares of the company’s stock, valued at $4,238,963.60. The trade was a 2.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 183,887 shares of company stock worth $5,146,862. Corporate insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Phreesia

Hedge funds have recently added to or reduced their stakes in the stock. Johnson Financial Group Inc. increased its holdings in shares of Phreesia by 381.3% during the fourth quarter. Johnson Financial Group Inc. now owns 1,131 shares of the company’s stock valued at $28,000 after acquiring an additional 896 shares in the last quarter. R Squared Ltd purchased a new stake in Phreesia during the 4th quarter valued at about $30,000. BankPlus Trust Department bought a new stake in Phreesia during the 4th quarter valued at about $34,000. Quarry LP raised its holdings in Phreesia by 210.9% in the fourth quarter. Quarry LP now owns 2,835 shares of the company’s stock worth $71,000 after buying an additional 1,923 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Phreesia during the fourth quarter valued at approximately $76,000. 92.10% of the stock is owned by institutional investors.

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.