Citigroup Issues Pessimistic Forecast for Phreesia (NYSE:PHR) Stock Price

Phreesia (NYSE:PHR) had its target price dropped by analysts at Citigroup from $34.00 to $29.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 83.37% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Phreesia in a report on Friday, October 31st. DA Davidson upped 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. Barclays began coverage on Phreesia in a report on Monday. They set an “overweight” rating and a $26.00 price objective for the company. Stephens reissued an “overweight” rating and issued a $32.00 target price on shares of Phreesia in a report on Wednesday, September 3rd. Finally, Piper Sandler raised their price target on Phreesia from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.13.

Phreesia Trading Up 2.5%

NYSE:PHR opened at $15.82 on Tuesday. Phreesia has a 1 year low of $15.41 and a 1 year high of $32.76. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.12 and a current ratio of 2.12. The stock has a fifty day moving average price of $21.73 and a two-hundred day moving average price of $25.12. The stock has a market capitalization of $947.48 million, a price-to-earnings ratio of -158.13 and a beta of 0.64.

Phreesia (NYSE:PHR) last posted its quarterly earnings results on Monday, December 8th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.11. Phreesia had a negative net margin of 1.16% and a negative return on equity of 1.36%. The business had revenue of $120.33 million for the quarter, compared to analysts’ expectations of $119.98 million. During the same period in the prior year, the company posted ($0.25) EPS. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Phreesia will post -1.1 earnings per share for the current fiscal year.

Insider Transactions at Phreesia

In other Phreesia news, General Counsel Allison C. Hoffman sold 3,133 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $23.28, for a total value of $72,936.24. Following the transaction, the general counsel directly owned 139,037 shares in the company, valued at approximately $3,236,781.36. This represents a 2.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Balaji Gandhi sold 4,183 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $23.28, for a total transaction of $97,380.24. Following the sale, the chief financial officer directly owned 99,125 shares in the company, valued at $2,307,630. This represents a 4.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 26,174 shares of company stock worth $603,835 in the last ninety days. Company insiders own 5.50% of the company’s stock.

Institutional Trading of Phreesia

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Phreesia by 8.3% in the 3rd quarter. Vanguard Group Inc. now owns 5,704,786 shares of the company’s stock valued at $134,177,000 after acquiring an additional 437,462 shares during the last quarter. Greenhouse Funds LLLP grew its position in shares of Phreesia by 16.8% in the third quarter. Greenhouse Funds LLLP now owns 3,882,527 shares of the company’s stock valued at $91,317,000 after purchasing an additional 557,265 shares during the period. Champlain Investment Partners LLC increased its stake in Phreesia by 20.0% in the first quarter. Champlain Investment Partners LLC now owns 2,946,489 shares of the company’s stock valued at $75,312,000 after purchasing an additional 490,340 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Phreesia by 108.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,644,988 shares of the company’s stock worth $67,606,000 after buying an additional 1,377,904 shares during the period. Finally, Franklin Resources Inc. lifted its position in Phreesia by 1.9% during the third quarter. Franklin Resources Inc. now owns 1,553,192 shares of the company’s stock worth $36,531,000 after buying an additional 28,941 shares during the period. 92.10% of the stock is owned by hedge funds and other institutional investors.

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.