Phreesia (NYSE:PHR) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Phreesia (NYSE:PHR) in a research note published on Friday morning, Benzinga reports. Needham & Company LLC currently has a $29.00 price objective on the stock.

A number of other research analysts have also weighed in on PHR. DA Davidson reissued a neutral rating and issued a $32.00 target price on shares of Phreesia in a report on Friday, March 15th. Stephens reissued an overweight rating and issued a $28.00 target price on shares of Phreesia in a report on Friday, March 22nd. Royal Bank of Canada reissued a sector perform rating and issued a $23.00 target price on shares of Phreesia in a report on Thursday, March 21st. Raymond James reissued an outperform rating and issued a $30.00 target price (up from $25.00) on shares of Phreesia in a report on Friday, March 15th. Finally, Truist Financial began coverage on Phreesia in a research report on Monday, February 26th. They issued a buy rating and a $35.00 price target for the company. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $31.38.

Phreesia Trading Down 11.2 %

Shares of PHR opened at $18.92 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.78 and a quick ratio of 1.78. Phreesia has a 1 year low of $12.05 and a 1 year high of $34.98. The company has a 50 day simple moving average of $22.55 and a two-hundred day simple moving average of $22.73. The firm has a market cap of $1.08 billion, a P/E ratio of -8.72 and a beta of 0.95.

Phreesia (NYSE:PHR) last announced its quarterly earnings data on Thursday, May 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.16. Phreesia had a negative net margin of 31.87% and a negative return on equity of 46.81%. The business had revenue of $101.20 million during the quarter, compared to analyst estimates of $100.94 million. During the same period last year, the firm posted ($0.70) EPS. The company’s revenue was up 20.8% on a year-over-year basis. On average, equities analysts expect that Phreesia will post -1.48 earnings per share for the current fiscal year.

Insider Transactions at Phreesia

In other news, CEO Chaim Indig sold 3,392 shares of Phreesia stock in a transaction on Monday, April 15th. The stock was sold at an average price of $22.86, for a total transaction of $77,541.12. Following the completion of the sale, the chief executive officer now directly owns 1,222,005 shares in the company, valued at $27,935,034.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Chaim Indig sold 3,392 shares of Phreesia stock in a transaction on Monday, April 15th. The stock was sold at an average price of $22.86, for a total transaction of $77,541.12. Following the completion of the sale, the chief executive officer now directly owns 1,222,005 shares in the company, valued at $27,935,034.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Allison C. Hoffman sold 1,238 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $22.86, for a total value of $28,300.68. Following the transaction, the general counsel now owns 135,621 shares in the company, valued at approximately $3,100,296.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 82,467 shares of company stock worth $1,895,776. 5.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Phreesia

Several institutional investors have recently made changes to their positions in PHR. Capital International Investors increased its stake in shares of Phreesia by 221.1% during the first quarter. Capital International Investors now owns 2,593,063 shares of the company’s stock valued at $62,052,000 after buying an additional 1,785,463 shares during the period. Champlain Investment Partners LLC purchased a new position in shares of Phreesia during the first quarter valued at $29,941,000. Brown Advisory Inc. increased its stake in shares of Phreesia by 22.2% during the fourth quarter. Brown Advisory Inc. now owns 3,950,356 shares of the company’s stock valued at $91,451,000 after buying an additional 716,374 shares during the period. FMR LLC increased its stake in shares of Phreesia by 8.6% during the third quarter. FMR LLC now owns 7,856,551 shares of the company’s stock valued at $146,760,000 after buying an additional 624,456 shares during the period. Finally, Rock Springs Capital Management LP increased its stake in shares of Phreesia by 36.1% during the third quarter. Rock Springs Capital Management LP now owns 1,776,391 shares of the company’s stock valued at $33,183,000 after buying an additional 471,391 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.