DA Davidson Has Lowered Expectations for Phreesia (NYSE:PHR) Stock Price

Phreesia (NYSE:PHR - Free Report) had its price target lowered by DA Davidson from $36.00 to $34.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also weighed in on PHR. Citigroup raised their price objective on Phreesia from $31.00 to $35.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Needham & Company LLC reiterated a "buy" rating and issued a $29.00 price target on shares of Phreesia in a research report on Thursday, March 13th. KeyCorp lifted their price objective on Phreesia from $28.00 to $30.00 and gave the company an "overweight" rating in a research report on Wednesday, January 8th. Canaccord Genuity Group upped their price target on Phreesia from $34.00 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, March 13th. Finally, Royal Bank of Canada raised Phreesia from a "sector perform" rating to an "outperform" rating and raised their target price for the company from $24.00 to $32.00 in a report on Wednesday, January 8th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $31.33.

Phreesia Price Performance

Shares of NYSE PHR traded up $0.03 during trading on Monday, hitting $23.92. 486,229 shares of the company were exchanged, compared to its average volume of 434,437. The firm's fifty day moving average price is $26.07 and its 200 day moving average price is $24.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.74 and a quick ratio of 1.74. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -16.27 and a beta of 0.82. Phreesia has a 1 year low of $17.07 and a 1 year high of $30.53.

Insiders Place Their Bets

In other news, SVP David Linetsky sold 4,499 shares of the firm's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $23.73, for a total transaction of $106,761.27. Following the completion of the transaction, the senior vice president now owns 217,239 shares of the company's stock, valued at approximately $5,155,081.47. This trade represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Yvonne Hui sold 1,878 shares of the firm's stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $23.85, for a total value of $44,790.30. Following the sale, the insider now directly owns 28,449 shares of the company's stock, valued at $678,508.65. This represents a 6.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 177,526 shares of company stock worth $4,908,117 in the last quarter. Corporate insiders own 5.80% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Phreesia by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 4,823,110 shares of the company's stock worth $121,349,000 after acquiring an additional 61,048 shares during the period. Greenhouse Funds LLLP raised its position in Phreesia by 27.9% during the fourth quarter. Greenhouse Funds LLLP now owns 2,873,892 shares of the company's stock valued at $72,307,000 after purchasing an additional 626,579 shares in the last quarter. Franklin Resources Inc. lifted its stake in Phreesia by 0.8% during the fourth quarter. Franklin Resources Inc. now owns 1,509,617 shares of the company's stock worth $37,982,000 after purchasing an additional 11,986 shares during the last quarter. State Street Corp boosted its holdings in shares of Phreesia by 7.1% in the 3rd quarter. State Street Corp now owns 1,327,586 shares of the company's stock worth $30,256,000 after purchasing an additional 88,517 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C increased its position in shares of Phreesia by 133.6% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 1,271,832 shares of the company's stock valued at $31,999,000 after purchasing an additional 727,384 shares during the last quarter. Institutional investors 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.