Phreesia (NYSE:PHR) Sets New 52-Week Low Following Analyst Downgrade

Phreesia, Inc. (NYSE:PHR) shares hit a new 52-week low during mid-day trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $29.00 to $24.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Phreesia traded as low as $11.55 and last traded at $11.6970, with a volume of 610907 shares. The stock had previously closed at $12.71.

A number of other equities analysts have also recently commented on the company. Robert W. Baird lowered their target price on Phreesia from $31.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, December 10th. Zacks Research lowered shares of Phreesia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Mizuho set a $22.00 price objective on shares of Phreesia in a report on Wednesday, February 4th. Wells Fargo & Company began coverage on shares of Phreesia in a report on Thursday, January 8th. They set an “overweight” rating and a $30.00 target price on the stock. Finally, Truist Financial set a $24.00 price target on shares of Phreesia in a research report on Thursday, January 8th. Seventeen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.12.

Insider Buying and Selling

In related news, insider Evan Roberts sold 6,317 shares of the business’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $17.01, for a total transaction of $107,452.17. Following the completion of the transaction, the insider owned 834,632 shares in the company, valued at approximately $14,197,090.32. The trade was a 0.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Balaji Gandhi sold 8,009 shares of the stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $17.01, for a total value of $136,233.09. Following the completion of the transaction, the chief financial officer directly owned 156,231 shares in the company, valued at $2,657,489.31. This trade represents a 4.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 60,766 shares of company stock valued at $1,013,817 over the last ninety days. 5.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Phreesia

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Federated Hermes Inc. acquired a new stake in Phreesia during the third quarter worth approximately $32,000. Van ECK Associates Corp grew its position in shares of Phreesia by 78.7% in the 4th quarter. Van ECK Associates Corp now owns 2,502 shares of the company’s stock valued at $42,000 after buying an additional 1,102 shares during the last quarter. Asset Management One Co. Ltd. acquired a new stake in Phreesia during the 3rd quarter worth $45,000. KBC Group NV lifted its position in Phreesia by 83.4% in the fourth quarter. KBC Group NV now owns 3,449 shares of the company’s stock valued at $58,000 after acquiring an additional 1,568 shares during the last quarter. Finally, Garner Asset Management Corp purchased a new stake in Phreesia in the fourth quarter valued at $81,000. Institutional investors and hedge funds own 92.10% of the company’s stock.

Phreesia Stock Down 0.3%

The firm’s 50 day simple moving average is $14.94 and its 200-day simple moving average is $20.63. The company has a market cap of $703.28 million, a price-to-earnings ratio of -116.64 and a beta of 0.65. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.44 and a quick ratio of 2.44.

Phreesia (NYSE:PHR) last posted 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 during the quarter, compared to the consensus estimate of $119.98 million. Phreesia had a negative return on equity of 1.31% and a negative net margin of 1.16%.The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.25) EPS. As a group, sell-side analysts anticipate that Phreesia, Inc. will post -1.1 earnings per share for the current year.

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.