Royal Bank Of Canada Initiates Coverage on Phreesia (NYSE:PHR)

Royal Bank Of Canada began coverage on shares of Phreesia (NYSE:PHR) in a research note issued on Friday. The brokerage set an “outperform” rating and a $26.00 price target on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 50.82% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. DA Davidson upped their price objective on shares of Phreesia from $33.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, December 2nd. KeyCorp dropped their target price on shares of Phreesia from $35.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 8th. Zacks Research cut shares of Phreesia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Phreesia in a research note on Friday, October 31st. Finally, Mizuho dropped their price objective on shares of Phreesia from $36.00 to $28.00 and set an “outperform” rating on the stock in a report on Wednesday, December 10th. Seventeen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $30.06.

Phreesia Stock Performance

Shares of PHR opened at $17.24 on Friday. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.01. The firm has a market cap of $1.04 billion, a PE ratio of -172.37 and a beta of 0.61. Phreesia has a 12 month low of $15.41 and a 12 month high of $32.76. The stock has a fifty day moving average price of $18.95 and a 200-day moving average price of $23.72.

Phreesia (NYSE:PHR) last announced its earnings results on Monday, December 8th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.11. Phreesia had a negative return on equity of 1.31% and a negative net margin of 1.16%.The company had revenue of $120.33 million for the quarter, compared to analyst estimates of $119.98 million. During the same period in the prior year, the company posted ($0.25) EPS. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. Equities research analysts predict that Phreesia will post -1.1 earnings per share for the current fiscal year.

Insider Activity at Phreesia

In other news, insider David Linetsky sold 2,059 shares of the business’s stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $22.36, for a total value of $46,039.24. Following the completion of the transaction, the insider owned 171,829 shares of the company’s stock, valued at $3,842,096.44. The trade was a 1.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Allison C. Hoffman sold 1,241 shares of the company’s stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $22.36, for a total value of $27,748.76. Following the completion of the sale, the general counsel owned 135,737 shares in the company, valued at $3,035,079.32. The trade was a 0.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 7,534 shares of company stock worth $165,514 over the last three months. Company insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. boosted its position in Phreesia by 2.7% in the 2nd quarter. Raymond James Financial Inc. now owns 14,049 shares of the company’s stock worth $400,000 after purchasing an additional 375 shares in the last quarter. Diversified Trust Co lifted its stake in shares of Phreesia by 1.0% in the 2nd quarter. Diversified Trust Co now owns 45,042 shares of the company’s stock valued at $1,282,000 after purchasing an additional 426 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Phreesia by 2.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 19,983 shares of the company’s stock valued at $569,000 after purchasing an additional 540 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in Phreesia by 9.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 8,803 shares of the company’s stock worth $251,000 after buying an additional 792 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Phreesia by 1.3% during the third quarter. Alliancebernstein L.P. now owns 62,712 shares of the company’s stock worth $1,475,000 after buying an additional 812 shares in the last quarter. 92.10% of the stock is currently owned by hedge funds and other institutional investors.

Phreesia Company Profile

Phreesia, Inc (NYSE: PHR) is a provider of patient intake management solutions designed to streamline front-office workflows for healthcare organizations. The company’s cloud-based platform digitizes patient registration, appointment scheduling, insurance verification, consent documentation and payment collection through touchscreen kiosks, tablets and mobile devices. By replacing paper forms and manual processes, Phreesia enhances data accuracy, reduces administrative burden and improves the patient experience.

Founded in 2000 by Chaim Indig and headquartered in Burlington, Massachusetts, Phreesia offers a modular software suite that integrates with electronic medical record (EMR) and practice management systems.