JPMorgan Chase & Co. Has Lowered Expectations for Phreesia (NYSE:PHR) Stock Price

Phreesia (NYSE:PHR) had its target price cut by analysts at JPMorgan Chase & Co. from $32.00 to $29.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 83.37% from the company’s previous close.

PHR has been the topic of several other research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Phreesia in a research note on Friday, October 31st. Truist Financial raised their price target on shares of Phreesia from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Citigroup restated an “outperform” rating on shares of Phreesia in a research report on Monday, September 8th. JMP Securities increased their price objective on shares of Phreesia from $30.00 to $34.00 and gave the company a “market outperform” rating in a report on Monday, September 8th. Finally, Stephens reissued an “overweight” rating and issued a $32.00 target price on shares of Phreesia in a research note on Wednesday, September 3rd. One equities 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. According to MarketBeat, Phreesia has an average rating of “Moderate Buy” and an average target price of $31.13.

Phreesia Trading Up 2.5%

PHR stock opened at $15.82 on Tuesday. Phreesia has a 12-month low of $15.41 and a 12-month high of $32.76. The business’s 50-day moving average is $21.73 and its 200 day moving average is $25.12. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.02. The stock has a market cap of $947.48 million, a price-to-earnings ratio of -158.13 and a beta of 0.64.

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

Insider Activity at Phreesia

In other Phreesia news, insider David Linetsky sold 2,165 shares of the business’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 $50,401.20. Following the transaction, the insider directly owned 174,952 shares in the company, valued at $4,072,882.56. The trade was a 1.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Evan Roberts sold 3,761 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $23.28, for a total transaction of $87,556.08. Following the sale, the insider owned 726,837 shares of the company’s stock, valued at $16,920,765.36. This represents a 0.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 26,174 shares of company stock valued at $603,835 over the last ninety days. Corporate insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Phreesia

Large investors have recently modified their holdings of the business. Federated Hermes Inc. acquired a new stake in shares of Phreesia during the 3rd quarter worth about $32,000. Asset Management One Co. Ltd. acquired a new position in Phreesia in the third quarter valued at about $45,000. Farther Finance Advisors LLC boosted its stake in Phreesia by 9,375.0% during the second quarter. Farther Finance Advisors LLC now owns 3,032 shares of the company’s stock worth $86,000 after buying an additional 3,000 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of Phreesia during the third quarter valued at about $83,000. Finally, Anchor Investment Management LLC purchased a new stake in shares of Phreesia in the 3rd quarter valued at approximately $118,000. Institutional investors and hedge funds 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.