Needham & Company LLC Reiterates “Buy” Rating for Phreesia (NYSE:PHR)

Phreesia (NYSE:PHR)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a report issued on Monday,Benzinga reports. They currently have a $35.00 price objective on the stock. Needham & Company LLC’s target price suggests a potential upside of 126.46% from the stock’s current price.

PHR has been the topic of a number of other research reports. JMP Securities upped their price target on shares of Phreesia from $30.00 to $34.00 and gave the company a “market outperform” rating in a research note on Monday, September 8th. Truist Financial boosted their price objective on Phreesia from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Phreesia in a research report on Friday, October 31st. Raymond James Financial set a $33.00 price target on Phreesia and gave the stock an “outperform” rating in a report on Friday, September 5th. Finally, DA Davidson lifted their price target on Phreesia from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. Sixteen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.38.

Phreesia Stock Down 23.2%

PHR opened at $15.46 on Monday. The stock’s fifty day simple moving average is $21.87 and its 200 day simple moving average is $25.19. Phreesia has a 1-year low of $15.41 and a 1-year high of $32.76. The stock has a market cap of $925.91 million, a PE ratio of -154.53 and a beta of 0.64. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.02.

Phreesia (NYSE:PHR) last released its quarterly earnings data on Monday, December 8th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.11. The firm had revenue of $120.33 million for the quarter, compared to the consensus estimate of $119.98 million. Phreesia had a negative net margin of 1.16% and a negative return on equity of 1.36%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.25) earnings per share. As a group, research analysts expect that Phreesia will post -1.1 earnings per share for the current year.

Insider Buying and Selling at Phreesia

In other Phreesia news, insider Evan Roberts sold 1,888 shares of the firm’s stock in a transaction on Friday, October 17th. The stock was sold at an average price of $22.36, for a total transaction of $42,215.68. Following the transaction, the insider owned 724,949 shares in the company, valued at $16,209,859.64. This trade represents a 0.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David Linetsky sold 2,059 shares of Phreesia stock in a transaction on Friday, October 17th. The shares were sold at an average price of $22.36, for a total value of $46,039.24. Following the completion of the transaction, the insider directly owned 171,829 shares of the company’s stock, valued at $3,842,096.44. This represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 26,174 shares of company stock valued at $603,835 over the last ninety days. 5.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Phreesia

Several institutional investors and hedge funds have recently bought and sold shares of PHR. Federated Hermes Inc. acquired a new stake in Phreesia during the third quarter worth about $32,000. Asset Management One Co. Ltd. bought a new stake in shares of Phreesia during the 3rd quarter worth approximately $45,000. Farther Finance Advisors LLC boosted its position in shares of Phreesia by 9,375.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,032 shares of the company’s stock worth $86,000 after acquiring an additional 3,000 shares in the last quarter. State of Alaska Department of Revenue bought a new position in Phreesia in the third quarter valued at approximately $83,000. Finally, Anchor Investment Management LLC bought a new position in Phreesia in the third quarter valued at approximately $118,000. 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.