Phreesia (NYSE:PHR) Stock Gets Downgrade from Wall Street Zen

Phreesia (NYSE:PHR) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.

Other equities research analysts have also recently issued research reports about the company. Barclays upped their price target on Phreesia from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Monday, October 12th. Citigroup reiterated a “market perform” rating on shares of Phreesia in a research report on Tuesday, October 20th. DA Davidson decreased their target price on Phreesia from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, September 4th. Wells Fargo & Company upped their target price on Phreesia from $9.00 to $10.00 and gave the company an “equal weight” rating in a report on Thursday, September 3rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $14.00 price target on shares of Phreesia in a research report on Monday, August 31st. Eight analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $14.07.

Phreesia Price Performance

Phreesia stock opened at $12.67 on Friday. Phreesia has a one year low of $7.77 and a one year high of $23.99. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.76 and a current ratio of 1.76. The business has a fifty day moving average of $10.96 and a two-hundred day moving average of $10.30. The company has a market cap of $786.18 million, a P/E ratio of 74.51 and a beta of 0.84.

Phreesia (NYSE:PHR) last issued its earnings results on Wednesday, September 2nd. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.06). Phreesia had a return on equity of 5.22% and a net margin of 2.06%. The company had revenue of $129.46 million for the quarter, compared to analysts’ expectations of $129.06 million. During the same quarter in the previous year, the firm posted $0.01 earnings per share. Phreesia’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, analysts predict that Phreesia will post 0.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Phreesia

In other news, General Counsel Allison C. Hoffman sold 6,662 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $10.08, for a total value of $67,152.96. Following the completion of the transaction, the general counsel owned 266,574 shares of the company’s stock, valued at $2,687,065.92. The trade was a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 5.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Phreesia

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Pale Fire Capital SE acquired a new stake in Phreesia in the first quarter valued at approximately $72,481,000. BlackRock Inc. acquired a new position in shares of Phreesia during the second quarter worth $72,234,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Phreesia in the second quarter valued at $6,274,000. Bank of America Corp DE acquired a new stake in Phreesia during the 2nd quarter valued at $6,066,000. Finally, SG Americas Securities LLC grew its holdings in Phreesia by 544.3% during the 1st quarter. SG Americas Securities LLC now owns 457,925 shares of the company’s stock valued at $3,837,000 after purchasing an additional 386,848 shares in the last quarter. 92.10% of the stock is currently owned by institutional investors and hedge funds.

About Phreesia

Phreesia, Inc is a healthcare technology company that provides a platform for managing administrative and financial interactions between healthcare organizations and their patients. Its software is designed to help medical practices and other care providers streamline registration, intake, payments, communications and related workflows.

The Phreesia platform includes digital patient check-in tools that allow patients to complete forms, update demographic and insurance information, make payments and review relevant educational or administrative content.