Phreesia (NYSE:PHR) Price Target Raised to $35.00 at Citigroup

Phreesia (NYSE:PHR) had its price target lifted by Citigroup from $31.00 to $35.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective points to a potential upside of 33.13% from the company’s previous close.

PHR has been the topic of several other reports. Royal Bank of Canada raised Phreesia from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $24.00 to $32.00 in a report on Wednesday. JMP Securities reiterated a “market outperform” rating and set a $30.00 price objective on shares of Phreesia in a research note on Tuesday, December 10th. Truist Financial boosted their target price on shares of Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. KeyCorp increased their price target on shares of Phreesia from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and set a $29.00 price objective on shares of Phreesia in a research report on Friday. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $31.00.

Phreesia Stock Performance

Shares of PHR stock traded down $2.14 on Friday, reaching $26.29. The stock had a trading volume of 339,092 shares, compared to its average volume of 397,586. 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’s 50-day moving average is $22.70 and its two-hundred day moving average is $22.57. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of -17.88 and a beta of 0.94. Phreesia has a 12 month low of $17.07 and a 12 month high of $29.16.

Phreesia (NYSE:PHR) last released its quarterly 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 net margin of 20.43% and a negative return on equity of 32.78%. The firm had revenue of $106.80 million for the quarter, compared to analysts’ expectations of $106.33 million. During the same period in the prior year, the firm earned ($0.58) EPS. The business’s revenue was up 16.6% on a year-over-year basis. On average, research analysts expect that Phreesia will post -1.16 EPS for the current fiscal year.

Insider Activity

In related news, General Counsel Allison C. Hoffman sold 1,212 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $21.03, for a total value of $25,488.36. Following the transaction, the general counsel now directly owns 119,791 shares in the company, valued at approximately $2,519,204.73. This represents a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Amy Beth Vanduyn sold 1,311 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $26.61, for a total transaction of $34,885.71. Following the completion of the transaction, the senior vice president now directly owns 115,633 shares of the company’s stock, valued at approximately $3,076,994.13. This represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,703 shares of company stock worth $2,343,541 over the last ninety days. Company insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Phreesia

Several hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its stake in Phreesia by 2,179.7% in the third quarter. International Assets Investment Management LLC now owns 1,459 shares of the company’s stock worth $33,000 after purchasing an additional 1,395 shares during the last quarter. Lombard Odier Asset Management USA Corp bought a new position in shares of Phreesia during the second quarter valued at approximately $202,000. Point72 DIFC Ltd bought a new stake in shares of Phreesia during the 2nd quarter valued at about $209,000. XTX Topco Ltd bought a new stake in Phreesia during the 3rd quarter valued at approximately $247,000. Finally, Hsbc Holdings PLC bought a new position in shares of Phreesia in the 2nd quarter worth about $301,000. 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.