Phreesia’s (PHR) “Buy” Rating Reaffirmed at Needham & Company LLC

Phreesia (NYSE:PHR)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research note issued on Monday,Benzinga reports. They currently have a $14.00 price target on the stock. Needham & Company LLC’s price target would indicate a potential upside of 15.04% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $9.00 target price (down from $15.00) on shares of Phreesia in a report on Wednesday, May 20th. Citigroup reiterated a “market perform” rating on shares of Phreesia in a research note on Friday, May 29th. Barclays reissued an “equal weight” rating and set a $10.00 price objective (down from $24.00) on shares of Phreesia in a research report on Thursday, May 14th. Weiss Ratings raised shares of Phreesia from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, July 20th. Finally, Truist Financial increased their target price on shares of Phreesia from $11.00 to $12.00 and gave the stock a “hold” rating in a research note on Thursday, May 28th. Nine research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $16.65.

Phreesia Price Performance

Shares of NYSE PHR opened at $12.17 on Monday. The stock has a market cap of $752.23 million, a P/E ratio of 81.13 and a beta of 0.85. Phreesia has a twelve month low of $7.77 and a twelve month high of $32.74. The stock has a 50 day moving average of $11.03 and a two-hundred day moving average of $10.48. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.41.

Hedge Funds Weigh In On Phreesia

Several hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in shares of Phreesia by 78.7% in the 4th quarter. Van ECK Associates Corp now owns 2,502 shares of the company’s stock worth $42,000 after buying an additional 1,102 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Phreesia by 354.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,755 shares of the company’s stock valued at $47,000 after purchasing an additional 2,149 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Phreesia by 1,119.8% in the first quarter. EverSource Wealth Advisors LLC now owns 3,269 shares of the company’s stock valued at $27,000 after purchasing an additional 3,001 shares in the last quarter. Garner Asset Management Corp acquired a new stake in shares of Phreesia in the fourth quarter valued at approximately $81,000. Finally, New York State Teachers Retirement System acquired a new stake in shares of Phreesia in the first quarter valued at approximately $44,000. 92.10% of the stock is owned by hedge funds and other institutional investors.

About Phreesia

Phreesia, Inc (NYSE: PHR) is a provider of patient intake management solutions designed to streamline front-office workflows for healthcare organizations. The company’s cloud-based platform digitizes patient registration, appointment scheduling, insurance verification, consent documentation and payment collection through touchscreen kiosks, tablets and mobile devices. By replacing paper forms and manual processes, Phreesia enhances data accuracy, reduces administrative burden and improves the patient experience.

Founded in 2000 by Chaim Indig and headquartered in Burlington, Massachusetts, Phreesia offers a modular software suite that integrates with electronic medical record (EMR) and practice management systems.