DA Davidson Reaffirms Buy Rating for Phreesia (NYSE:PHR)

DA Davidson reiterated their buy rating on shares of Phreesia (NYSE:PHR) in a research report sent to investors on Thursday morning, MarketBeat.com reports. DA Davidson currently has a $32.00 target price on the stock.

Other equities research analysts have also issued research reports about the stock. JMP Securities restated a market outperform rating and set a $30.00 price target on shares of Phreesia in a research note on Friday, August 30th. Truist Financial reissued a buy rating and set a $29.00 price objective on shares of Phreesia in a report on Monday, July 1st. Canaccord Genuity Group lowered their target price on Phreesia from $37.00 to $34.00 and set a buy rating on the stock in a research note on Friday, May 31st. Needham & Company LLC reiterated a buy rating and set a $29.00 price target on shares of Phreesia in a research note on Thursday. Finally, KeyCorp lowered their price objective on Phreesia from $27.00 to $25.00 and set an overweight rating on the stock in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $30.42.

Phreesia Price Performance

PHR opened at $23.55 on Thursday. Phreesia has a fifty-two week low of $12.05 and a fifty-two week high of $29.16. The firm has a 50-day moving average of $23.38 and a 200 day moving average of $22.77. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.76 and a current ratio of 1.76. The firm has a market cap of $1.35 billion, a P/E ratio of -10.85 and a beta of 0.93.

Insider Activity

In other news, General Counsel Allison C. Hoffman sold 14,110 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $26.03, for a total value of $367,283.30. Following the completion of the transaction, the general counsel now directly owns 121,003 shares in the company, valued at $3,149,708.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, General Counsel Allison C. Hoffman sold 14,110 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $26.03, for a total value of $367,283.30. Following the transaction, the general counsel now owns 121,003 shares of the company’s stock, valued at $3,149,708.09. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Evan Roberts sold 1,669 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $23.74, for a total value of $39,622.06. Following the completion of the sale, the chief operating officer now owns 753,234 shares in the company, valued at approximately $17,881,775.16. The disclosure for this sale can be found here. Insiders have sold a total of 29,337 shares of company stock worth $736,750 over the last ninety days. Company insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PHR. Vanguard Group Inc. raised its stake in Phreesia by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 4,628,441 shares of the company’s stock valued at $107,148,000 after purchasing an additional 194,035 shares in the last quarter. Champlain Investment Partners LLC bought a new position in shares of Phreesia in the 1st quarter worth $29,941,000. Brown Advisory Inc. increased its holdings in shares of Phreesia by 22.2% in the 4th quarter. Brown Advisory Inc. now owns 3,950,356 shares of the company’s stock worth $91,451,000 after buying an additional 716,374 shares during the last quarter. Boston Partners purchased a new stake in shares of Phreesia during the 1st quarter valued at $669,000. Finally, Blair William & Co. IL lifted its holdings in shares of Phreesia by 42.6% during the 1st quarter. Blair William & Co. IL now owns 752,700 shares of the company’s stock worth $18,012,000 after acquiring an additional 224,950 shares during the last quarter. Hedge funds and other institutional investors own 92.10% of the company’s stock.

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.