Phreesia (NYSE:PHR) Rating Increased to Outperform at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Phreesia (NYSE:PHR) from a sector perform rating to an outperform rating in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. Royal Bank of Canada currently has $32.00 price objective on the stock, up from their previous price objective of $24.00.

Other equities research analysts have also recently issued research reports about the stock. Truist Financial lifted their target price on shares of Phreesia from $31.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. JMP Securities restated a “market outperform” rating and set a $30.00 price target on shares of Phreesia in a research report on Tuesday, December 10th. Robert W. Baird cut their price objective on shares of Phreesia from $34.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. Finally, Needham & Company LLC restated a “buy” rating and set a $29.00 target price on shares of Phreesia in a report on Tuesday, December 10th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $30.64.

Phreesia Trading Up 5.3 %

Shares of Phreesia stock opened at $28.42 on Wednesday. The company has a current ratio of 1.74, a quick ratio of 1.77 and a debt-to-equity ratio of 0.04. Phreesia has a twelve month low of $17.07 and a twelve month high of $29.16. The firm has a market capitalization of $1.65 billion, a PE ratio of -19.33 and a beta of 0.94. The firm’s 50-day moving average price is $22.50 and its 200 day moving average price is $22.53.

Phreesia (NYSE:PHR) last released its earnings results on Monday, December 9th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.04. Phreesia had a negative return on equity of 32.78% and a negative net margin of 20.43%. The business had revenue of $106.80 million for the quarter, compared to the consensus estimate of $106.33 million. During the same quarter last year, the business posted ($0.58) earnings per share. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, sell-side analysts predict that Phreesia will post -1.16 EPS for the current fiscal year.

Insider Activity

In related news, insider Yvonne Hui sold 2,791 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $20.92, for a total value of $58,387.72. Following the sale, the insider now directly owns 27,228 shares in the company, valued at approximately $569,609.76. The trade was a 9.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Allison C. Hoffman sold 1,212 shares of the stock in a transaction dated 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 directly owns 119,791 shares of the company’s stock, valued at approximately $2,519,204.73. This trade represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,703 shares of company stock valued at $2,343,541. 5.80% of the stock is currently owned by company insiders.

Institutional Trading of Phreesia

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PHR. Champlain Investment Partners LLC raised its holdings in shares of Phreesia by 4.1% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,503,837 shares of the company’s stock valued at $57,062,000 after buying an additional 97,847 shares during the period. Franklin Resources Inc. increased its stake in Phreesia by 3.0% during the third quarter. Franklin Resources Inc. now owns 1,497,631 shares of the company’s stock worth $31,495,000 after purchasing an additional 42,973 shares during the period. State Street Corp boosted its stake in shares of Phreesia by 7.1% in the third quarter. State Street Corp now owns 1,327,586 shares of the company’s stock valued at $30,256,000 after purchasing an additional 88,517 shares during the period. Geode Capital Management LLC grew its holdings in shares of Phreesia by 4.7% in the third quarter. Geode Capital Management LLC now owns 1,245,797 shares of the company’s stock valued at $28,397,000 after purchasing an additional 55,934 shares in the last quarter. Finally, TimesSquare Capital Management LLC boosted its position in Phreesia by 2.3% in the 3rd quarter. TimesSquare Capital Management LLC now owns 868,409 shares of the company’s stock valued at $19,791,000 after buying an additional 19,395 shares during the period. 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.