Phreesia (NYSE:PHR) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Phreesia (NYSE:PHR - Free Report) in a research report report published on Friday,Benzinga reports. Needham & Company LLC currently has a $29.00 target price on the stock.

A number of other equities research analysts have also recently weighed in on PHR. KeyCorp upped their price objective on Phreesia from $28.00 to $30.00 and gave the stock an "overweight" rating in a research note on Wednesday. Royal Bank of Canada upgraded shares of Phreesia from a "sector perform" rating to an "outperform" rating and raised their price target for the company from $24.00 to $32.00 in a report on Wednesday. Robert W. Baird reduced their price objective on shares of Phreesia from $34.00 to $30.00 and set an "outperform" rating for the company in a research note on Wednesday, December 11th. Truist Financial raised their target price on shares of Phreesia from $31.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $30.00 price target on shares of Phreesia in a research report on Tuesday, December 10th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $31.00.

Phreesia Trading Down 5.9 %

Shares of Phreesia stock traded down $1.68 on Friday, reaching $26.75. The company had a trading volume of 625,124 shares, compared to its average volume of 446,504. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -18.20 and a beta of 0.94. The firm's 50-day moving average price is $22.87 and its two-hundred day moving average price is $22.62. Phreesia has a 1 year low of $17.07 and a 1 year high of $29.16. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.74 and a quick ratio of 1.77.

Phreesia (NYSE:PHR - Get Free Report) last issued its quarterly earnings results on Monday, December 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.29) by $0.04. The firm had revenue of $106.80 million during the quarter, compared to analyst estimates of $106.33 million. Phreesia had a negative return on equity of 32.78% and a negative net margin of 20.43%. Phreesia's quarterly revenue was up 16.6% compared to the same quarter last year. During the same period last year, the company earned ($0.58) EPS. As a group, research analysts predict that Phreesia will post -1.16 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Yvonne Hui sold 2,791 shares of the business's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $20.92, for a total value of $58,387.72. Following the transaction, the insider now owns 27,228 shares in the company, valued at $569,609.76. The trade was a 9.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, General Counsel Allison C. Hoffman sold 1,212 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $21.03, for a total value of $25,488.36. Following the sale, the general counsel now directly owns 119,791 shares of the company's stock, valued at approximately $2,519,204.73. This represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,384 shares of company stock worth $2,418,475. Corporate insiders own 5.80% of the company's stock.

Hedge Funds Weigh In On Phreesia

Several hedge funds have recently bought and sold shares of PHR. International Assets Investment Management LLC increased its position in shares of Phreesia by 2,179.7% in the third quarter. International Assets Investment Management LLC now owns 1,459 shares of the company's stock valued at $33,000 after buying an additional 1,395 shares in the last quarter. Lombard Odier Asset Management USA Corp purchased a new position in Phreesia during the 2nd quarter valued at about $202,000. Point72 DIFC Ltd acquired a new position in Phreesia during the second quarter worth about $209,000. XTX Topco Ltd acquired a new stake in shares of Phreesia in the third quarter valued at approximately $247,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Phreesia in the second quarter valued at approximately $301,000. 92.10% of the stock is owned by hedge funds and other institutional investors.

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.