Needham & Company LLC Reaffirms Buy Rating for Phreesia (NYSE:PHR)

Needham & Company LLC reaffirmed their buy rating on shares of Phreesia (NYSE:PHR) in a report issued on Friday,Benzinga reports. Needham & Company LLC currently has a $29.00 price target on the stock.

Other equities research analysts have also issued research reports about the company. JMP Securities reaffirmed a “market outperform” rating and set a $30.00 price objective on shares of Phreesia in a research note on Tuesday, December 10th. Robert W. Baird dropped their price target on shares of Phreesia from $34.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th. Royal Bank of Canada upgraded shares of Phreesia from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $24.00 to $32.00 in a research report on Wednesday. Truist Financial raised their target price on Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, KeyCorp upped their price target on Phreesia from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $31.00.

Phreesia Stock Down 5.9 %

PHR stock opened at $26.75 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.74 and a quick ratio of 1.77. The firm’s fifty day simple moving average is $22.87 and its 200-day simple moving average is $22.62. Phreesia has a 12 month low of $17.07 and a 12 month high of $29.16. The company has a market capitalization of $1.55 billion, a P/E ratio of -18.20 and a beta of 0.94.

Phreesia (NYSE:PHR) last posted its quarterly earnings results on Monday, December 9th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.04. The company had revenue of $106.80 million for the quarter, compared to analyst estimates of $106.33 million. Phreesia had a negative net margin of 20.43% and a negative return on equity of 32.78%. The firm’s revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.58) earnings per share. As a group, equities research analysts forecast that Phreesia will post -1.16 earnings per share for the current year.

Insider Activity at Phreesia

In other news, SVP Amy Beth Vanduyn sold 25,447 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $20.93, for a total transaction of $532,605.71. Following the transaction, the senior vice president now directly owns 93,470 shares of the company’s stock, valued at $1,956,327.10. This represents a 21.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Yvonne Hui sold 2,791 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $20.92, for a total transaction of $58,387.72. Following the sale, the insider now directly owns 27,228 shares in the company, valued at approximately $569,609.76. This represents a 9.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 104,384 shares of company stock worth $2,418,475 in the last 90 days. 5.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Phreesia

Hedge funds and other institutional investors have recently modified their holdings of the stock. Deerfield Management Company L.P. Series C acquired a new stake in shares of Phreesia in the second quarter valued at approximately $4,078,000. Champlain Investment Partners LLC grew its holdings in Phreesia by 4.1% during the 3rd quarter. Champlain Investment Partners LLC now owns 2,503,837 shares of the company’s stock valued at $57,062,000 after buying an additional 97,847 shares during the last quarter. Sei Investments Co. increased its position in Phreesia by 135.3% during the second quarter. Sei Investments Co. now owns 165,327 shares of the company’s stock worth $3,505,000 after buying an additional 95,058 shares in the last quarter. Squarepoint Ops LLC raised its holdings in shares of Phreesia by 56.3% in the second quarter. Squarepoint Ops LLC now owns 250,396 shares of the company’s stock worth $5,308,000 after acquiring an additional 90,215 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Phreesia by 7.1% in the third quarter. State Street Corp now owns 1,327,586 shares of the company’s stock valued at $30,256,000 after acquiring an additional 88,517 shares in the last quarter. 92.10% of the stock is currently owned by institutional investors and hedge funds.

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.