Needham & Company LLC Reiterates "Buy" Rating for Phreesia (NYSE:PHR)

Needham & Company LLC restated their buy rating on shares of Phreesia (NYSE:PHR - Free Report) in a report released on Tuesday,Benzinga reports. They currently have a $29.00 price objective on the stock.

Several other equities research analysts have also recently weighed in on the stock. Truist Financial increased their target price on shares of Phreesia from $29.00 to $31.00 and gave the company a "buy" rating in a research note on Friday, September 6th. JMP Securities reiterated a "market outperform" rating and issued a $30.00 price objective on shares of Phreesia in a research report on Thursday, September 5th. DA Davidson restated a "buy" rating and set a $32.00 price objective on shares of Phreesia in a research report on Thursday, September 5th. Robert W. Baird raised their target price on Phreesia from $31.00 to $34.00 and gave the stock an "outperform" rating in a research report on Friday, September 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Phreesia from $27.00 to $28.00 and gave the stock an "overweight" rating in a research note on Monday, September 9th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $29.42.

Phreesia Stock Performance

PHR traded up $2.52 during midday trading on Tuesday, reaching $24.15. The company's stock had a trading volume of 1,318,634 shares, compared to its average volume of 448,625. Phreesia has a twelve month low of $17.07 and a twelve month high of $29.16. The stock has a market cap of $1.40 billion, a P/E ratio of -13.41 and a beta of 0.98. The company has a fifty day simple moving average of $20.26 and a 200 day simple moving average of $21.75. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03.

Phreesia (NYSE:PHR - Get Free Report) last announced its 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. Phreesia had a negative net margin of 25.73% and a negative return on equity of 39.34%. The business had revenue of $106.80 million for the quarter, compared to analyst estimates of $106.33 million. During the same quarter in the previous year, the firm posted ($0.58) earnings per share. Phreesia's revenue was up 16.6% compared to the same quarter last year. Research analysts expect that Phreesia will post -1.23 earnings per share for the current year.

Insider Buying and Selling at Phreesia

In other Phreesia news, insider Yvonne Hui sold 2,791 shares of the business's stock in a transaction on 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 of the company's stock, valued at approximately $569,609.76. The trade was a 9.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Chaim Indig sold 3,089 shares of the firm's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $21.03, for a total value of $64,961.67. Following the completion of the sale, the chief executive officer now owns 1,220,647 shares of the company's stock, valued at approximately $25,670,206.41. This trade represents a 0.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,569 shares of company stock valued at $1,123,014. 5.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PHR. International Assets Investment Management LLC raised its stake 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 worth $33,000 after acquiring an additional 1,395 shares during the last quarter. nVerses Capital LLC increased its holdings in shares of Phreesia by 76.5% in the second quarter. nVerses Capital LLC now owns 3,000 shares of the company's stock valued at $64,000 after purchasing an additional 1,300 shares in the last quarter. Lombard Odier Asset Management USA Corp bought a new position in Phreesia in the 2nd quarter worth approximately $202,000. Point72 DIFC Ltd bought a new position in Phreesia in the 2nd quarter worth approximately $209,000. Finally, XTX Topco Ltd acquired a new position in Phreesia during the 3rd quarter worth $247,000. Institutional investors and hedge funds 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.