Phreesia (NYSE:PHR) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Phreesia (NYSE:PHR) in a report issued on Tuesday,Benzinga reports. The brokerage currently has a $29.00 price target on the stock.

Several other analysts have also recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Phreesia from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. JMP Securities reissued a “market outperform” rating and issued a $30.00 price objective on shares of Phreesia in a research report on Thursday, September 5th. Royal Bank of Canada restated a “sector perform” rating and set a $23.00 target price on shares of Phreesia in a research note on Friday, September 27th. DA Davidson restated a “buy” rating and set a $32.00 target price on shares of Phreesia in a research note on Thursday, September 5th. Finally, Truist Financial boosted their target price on Phreesia from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Phreesia presently has an average rating of “Moderate Buy” and a consensus price target of $29.42.

Phreesia Trading Up 11.7 %

Shares of PHR stock opened at $24.15 on Tuesday. Phreesia has a 1 year low of $17.07 and a 1 year high of $29.16. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The stock’s 50 day simple moving average is $20.26 and its two-hundred day simple moving average is $21.75. The company has a market cap of $1.40 billion, a PE ratio of -13.42 and a beta of 0.98.

Phreesia (NYSE:PHR) last released its quarterly earnings data on Monday, December 9th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.04. The company had revenue of $106.80 million for the quarter, compared to the consensus estimate of $106.33 million. Phreesia had a negative return on equity of 39.34% and a negative net margin of 25.73%. Phreesia’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period last year, the business posted ($0.58) EPS. Research analysts predict that Phreesia will post -1.23 earnings per share for the current year.

Insider Buying and Selling at Phreesia

In other news, SVP Amy Beth Vanduyn sold 25,447 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $20.93, for a total value of $532,605.71. Following the completion of the sale, the senior vice president now directly owns 93,470 shares in the company, valued at $1,956,327.10. This represents a 21.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Yvonne Hui sold 2,791 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $20.92, for a total value of $58,387.72. Following the completion of the sale, the insider now owns 27,228 shares of the company’s stock, valued at $569,609.76. This trade represents a 9.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 53,569 shares of company stock valued at $1,123,014 over the last quarter. 5.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Phreesia

A number of large investors have recently made changes to their positions in the stock. Trust Point Inc. grew its position in shares of Phreesia by 3.5% in the third quarter. Trust Point Inc. now owns 17,887 shares of the company’s stock valued at $408,000 after purchasing an additional 607 shares in the last quarter. Ensign Peak Advisors Inc grew its position in shares of Phreesia by 3.2% in the second quarter. Ensign Peak Advisors Inc now owns 22,491 shares of the company’s stock valued at $477,000 after purchasing an additional 700 shares in the last quarter. Rhumbline Advisers grew its position in shares of Phreesia by 1.0% in the second quarter. Rhumbline Advisers now owns 82,136 shares of the company’s stock valued at $1,741,000 after purchasing an additional 853 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Phreesia by 3.3% in the third quarter. The Manufacturers Life Insurance Company now owns 27,935 shares of the company’s stock valued at $637,000 after purchasing an additional 905 shares in the last quarter. Finally, MetLife Investment Management LLC grew its position in Phreesia by 3.8% in the third quarter. MetLife Investment Management LLC now owns 30,781 shares of the company’s stock worth $701,000 after acquiring an additional 1,120 shares during the period. 92.10% of the stock is currently owned by hedge funds and other institutional investors.

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.