Phreesia (NYSE:PHR) Given New $30.00 Price Target at KeyCorp

Phreesia (NYSE:PHR) had its price objective upped by equities researchers at KeyCorp from $28.00 to $30.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s target price indicates a potential upside of 5.71% from the company’s previous close.

Several other analysts also recently weighed in on PHR. Truist Financial lifted their target price on shares of Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Royal Bank of Canada upgraded Phreesia from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $24.00 to $32.00 in a research report on Wednesday. JMP Securities reissued a “market outperform” rating and issued a $30.00 price target on shares of Phreesia in a report on Tuesday, December 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $29.00 price objective on shares of Phreesia in a report on Tuesday, December 10th. Finally, Robert W. Baird reduced their target price on Phreesia from $34.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $30.64.

Phreesia Stock Performance

PHR stock traded up $1.40 during trading on Wednesday, hitting $28.38. The company had a trading volume of 424,302 shares, compared to its average volume of 353,303. The firm has a 50-day moving average price of $22.30 and a 200-day moving average price of $22.49. The company has a quick ratio of 1.77, a current ratio of 1.74 and a debt-to-equity ratio of 0.04. The firm has a market cap of $1.65 billion, a PE ratio of -19.31 and a beta of 0.94. Phreesia has a 1-year low of $17.07 and a 1-year high of $29.16.

Phreesia (NYSE:PHR) last released its earnings results on Monday, December 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $106.33 million. During the same quarter in the previous year, the company posted ($0.58) earnings per share. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, analysts expect that Phreesia will post -1.16 earnings per share for the current year.

Insider Activity at Phreesia

In other news, General Counsel Allison C. Hoffman sold 1,212 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $21.03, for a total value of $25,488.36. Following the sale, the general counsel now directly owns 119,791 shares in the company, valued at $2,519,204.73. This represents a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Weintraub sold 20,565 shares of Phreesia stock in a transaction dated Friday, December 13th. The stock was 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 of the company’s stock, valued at approximately $6,080,388.08. This represents a 7.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,342 shares of company stock valued at $2,041,225. Insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Phreesia

Several institutional investors and hedge funds have recently modified their holdings of PHR. International Assets Investment Management LLC grew its stake in Phreesia by 2,179.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,459 shares of the company’s stock worth $33,000 after acquiring an additional 1,395 shares during the period. Lombard Odier Asset Management USA Corp purchased a new stake in shares of Phreesia in the second quarter valued at $202,000. Point72 DIFC Ltd acquired a new position in Phreesia in the second quarter valued at $209,000. XTX Topco Ltd purchased a new position in Phreesia during the third quarter worth about $247,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Phreesia during the 2nd quarter valued at about $301,000. 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.