Brokerages Set Phreesia, Inc. (NYSE:PHR) Target Price at $31.64

Shares of Phreesia, Inc. (NYSE:PHR) have been assigned a consensus recommendation of “Buy” from the eleven brokerages that are currently covering the stock, Marketbeat reports. Eleven analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $31.64.

A number of equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Phreesia from a “hold” rating to a “buy” rating in a research report on Sunday, June 1st. Canaccord Genuity Group dropped their target price on Phreesia from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, May 29th. Citigroup restated a “buy” rating on shares of Phreesia in a research report on Wednesday, May 28th. Truist Financial lifted their price objective on Phreesia from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $29.00 price objective on shares of Phreesia in a report on Thursday, March 13th.

Insiders Place Their Bets

In related news, CFO Balaji Gandhi sold 1,827 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $27.46, for a total transaction of $50,169.42. Following the completion of the sale, the chief financial officer now owns 103,591 shares of the company’s stock, valued at $2,844,608.86. This represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael Weintraub sold 2,569 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $27.86, for a total transaction of $71,572.34. Following the sale, the director now directly owns 143,039 shares of the company’s stock, valued at $3,985,066.54. The trade was a 1.76% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,521 shares of company stock valued at $1,225,934. Company insiders own 5.50% of the company’s stock.

Institutional Trading of Phreesia

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers lifted its holdings in Phreesia by 3.8% during the first quarter. Rhumbline Advisers now owns 86,844 shares of the company’s stock valued at $2,220,000 after purchasing an additional 3,213 shares in the last quarter. Strs Ohio purchased a new position in Phreesia during the first quarter valued at $271,000. Acadian Asset Management LLC lifted its holdings in Phreesia by 105.2% during the first quarter. Acadian Asset Management LLC now owns 225,317 shares of the company’s stock valued at $5,754,000 after purchasing an additional 115,527 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings 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 valued at $67,606,000 after purchasing an additional 1,377,904 shares in the last quarter. Finally, Caxton Associates LLP purchased a new stake in shares of Phreesia during the first quarter worth approximately $316,000. Institutional investors and hedge funds own 92.10% of the company’s stock.

Phreesia Price Performance

Shares of NYSE:PHR opened at $25.42 on Friday. Phreesia has a one year low of $17.07 and a one year high of $30.53. The stock has a fifty day moving average of $25.06 and a 200-day moving average of $25.84. The company has a market capitalization of $1.51 billion, a PE ratio of -34.35 and a beta of 0.68. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.95 and a current ratio of 1.95.

Phreesia (NYSE:PHR) last issued its earnings results on Wednesday, May 28th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.06. The company had revenue of $115.94 million for the quarter, compared to analyst estimates of $115.00 million. Phreesia had a negative return on equity of 16.23% and a negative net margin of 9.83%. The business’s revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.05) EPS. As a group, equities analysts anticipate that Phreesia will post -1.1 EPS for the current fiscal year.

Phreesia Company Profile

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.