Phreesia, Inc. (NYSE:PHR) Receives Average Recommendation of "Buy" from Brokerages

Phreesia, Inc. (NYSE:PHR - Get Free Report) has received a consensus rating of "Buy" from the thirteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Thirteen investment analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have covered the stock in the last year is $31.15.

A number of research firms have commented on PHR. Citigroup lifted their price objective on shares of 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 reaffirmed a "buy" rating and set a $29.00 price objective on shares of Phreesia in a research note on Friday, January 10th. JMP Securities reaffirmed a "market outperform" rating and set a $30.00 price objective on shares of Phreesia in a research report on Tuesday, December 10th. KeyCorp boosted their target price on Phreesia from $28.00 to $30.00 and gave the company an "overweight" rating in a report on Wednesday, January 8th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $33.00 price target (up from $31.00) on shares of Phreesia in a report on Wednesday, January 29th.

Phreesia Stock Performance

NYSE:PHR traded down $1.78 during mid-day trading on Friday, reaching $21.90. 446,331 shares of the stock were exchanged, compared to its average volume of 390,805. The stock has a market capitalization of $1.27 billion, a P/E ratio of -14.89 and a beta of 1.03. Phreesia has a 1 year low of $17.07 and a 1 year high of $30.53. The company has a 50 day simple moving average of $27.45 and a 200-day simple moving average of $24.02. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.04.

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Phreesia (NYSE:PHR - Get Free Report) last announced its earnings results on Monday, December 9th. The company reported ($0.25) EPS for the quarter, beating analysts' consensus estimates of ($0.29) by $0.04. The business had revenue of $106.80 million for the quarter, compared to analysts' expectations of $106.33 million. Phreesia had a negative net margin of 20.43% and a negative return on equity of 32.78%. The company's quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.58) EPS. Analysts anticipate that Phreesia will post -1.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Phreesia

In other Phreesia news, SVP David Linetsky sold 11,853 shares of the company's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $24.85, for a total value of $294,547.05. Following the transaction, the senior vice president now directly owns 188,354 shares in the company, valued at approximately $4,680,596.90. This represents a 5.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Evan Roberts sold 3,519 shares of Phreesia stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $30.06, for a total transaction of $105,781.14. Following the sale, the chief operating officer now owns 741,197 shares of the company's stock, valued at approximately $22,280,381.82. This trade represents a 0.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 195,740 shares of company stock worth $5,441,409. 5.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PHR. Deerfield Management Company L.P. Series C increased its stake in Phreesia by 133.6% in the fourth 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. Greenhouse Funds LLLP boosted its holdings in shares of Phreesia by 27.9% in the 4th 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 during the last quarter. Park West Asset Management LLC purchased a new stake in shares of Phreesia during the 4th quarter valued at $10,657,000. Millennium Management LLC grew its stake in shares of Phreesia by 83.2% during the 4th quarter. Millennium Management LLC now owns 653,634 shares of the company's stock valued at $16,445,000 after buying an additional 296,863 shares during the period. Finally, ExodusPoint Capital Management LP increased its holdings in shares of Phreesia by 448.6% during the 4th quarter. ExodusPoint Capital Management LP now owns 174,971 shares of the company's stock worth $4,402,000 after buying an additional 143,077 shares during the last quarter. Hedge funds and other 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.