Citigroup Cuts Phreesia (NYSE:PHR) Price Target to $25.00

Phreesia (NYSE:PHR) had its price objective cut by Citigroup from $29.00 to $25.00 in a report released on Friday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms also recently weighed in on PHR. Barclays decreased their target price on Phreesia from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 16th. BMO Capital Markets initiated coverage on Phreesia in a research report on Thursday, November 13th. They set an “outperform” rating and a $32.00 price objective on the stock. Robert W. Baird cut their target price on Phreesia from $31.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, December 10th. Truist Financial set a $24.00 price target on shares of Phreesia in a research note on Thursday. Finally, Mizuho dropped their price objective on shares of Phreesia from $36.00 to $28.00 and set an “outperform” rating for the company in a research note on Wednesday, December 10th. Seventeen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.06.

Phreesia Stock Performance

PHR opened at $17.24 on Friday. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average price is $18.95 and its two-hundred day moving average price is $23.69. The firm has a market capitalization of $1.04 billion, a P/E 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.

Phreesia (NYSE:PHR) last posted its quarterly earnings data 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. 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 during the quarter, compared to analysts’ expectations of $119.98 million. During the same period in the prior year, the business earned ($0.25) earnings per share. Phreesia’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, equities analysts forecast that Phreesia will post -1.1 earnings per share for the current year.

Insider Activity

In other news, insider Evan Roberts sold 1,888 shares of the company’s stock in a transaction dated Friday, October 17th. The shares were sold at an average price of $22.36, for a total value of $42,215.68. Following the sale, the insider owned 724,949 shares of the company’s stock, valued at approximately $16,209,859.64. This represents a 0.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Linetsky sold 2,059 shares of the stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $22.36, for a total transaction of $46,039.24. Following the sale, the insider owned 171,829 shares of the company’s stock, valued at $3,842,096.44. This trade represents a 1.18% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 7,534 shares of company stock worth $165,514. Corporate insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PHR. Vanguard Group Inc. grew its position in Phreesia by 8.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,704,786 shares of the company’s stock worth $134,177,000 after acquiring an additional 437,462 shares during the last quarter. Greenhouse Funds LLLP boosted its stake in Phreesia by 16.8% in the third quarter. Greenhouse Funds LLLP now owns 3,882,527 shares of the company’s stock worth $91,317,000 after purchasing an additional 557,265 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of 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 purchasing an additional 1,377,904 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Phreesia by 1.9% in the third quarter. Franklin Resources Inc. now owns 1,553,192 shares of the company’s stock valued at $36,531,000 after buying an additional 28,941 shares in the last quarter. Finally, Granahan Investment Management LLC increased its stake in shares of Phreesia by 6.0% in the third quarter. Granahan Investment Management LLC now owns 1,380,626 shares of the company’s stock valued at $32,472,000 after buying an additional 77,841 shares in the last quarter. 92.10% of the stock is owned by institutional investors and hedge funds.

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.