KeyCorp Forecasts Strong Price Appreciation for Phreesia (NYSE:PHR) Stock

Phreesia (NYSE:PHR - Get Free Report) had its target price increased by investment analysts at KeyCorp from $28.00 to $30.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. KeyCorp's price target would suggest a potential upside of 5.56% from the stock's current price.

Other analysts also recently issued reports about the stock. Truist Financial raised their price objective on shares of Phreesia from $31.00 to $34.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. Royal Bank of Canada upgraded Phreesia from a "sector perform" rating to an "outperform" rating and boosted their price objective for the company from $24.00 to $32.00 in a research report on Wednesday. JMP Securities reiterated a "market outperform" rating and set a $30.00 target price on shares of Phreesia in a research report on Tuesday, December 10th. Needham & Company LLC reissued a "buy" rating and issued a $29.00 price target on shares of Phreesia in a report on Tuesday, December 10th. Finally, Robert W. Baird dropped their price target on Phreesia from $34.00 to $30.00 and set an "outperform" rating for the company in a research note on Wednesday, December 11th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Phreesia currently has a consensus rating of "Buy" and an average price target of $30.64.

Phreesia Stock Performance

NYSE:PHR traded up $1.44 during mid-day trading on Wednesday, hitting $28.42. 668,317 shares of the company traded hands, compared to its average volume of 410,783. The company has a quick ratio of 1.77, a current ratio of 1.74 and a debt-to-equity ratio of 0.04. The stock's fifty day moving average price is $22.50 and its 200-day moving average price is $22.53. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -19.33 and a beta of 0.94. Phreesia has a one year low of $17.07 and a one year high of $29.16.

Phreesia (NYSE:PHR - Get Free Report) last announced its quarterly earnings data on Monday, December 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $0.04. Phreesia had a negative return on equity of 32.78% and a negative net margin of 20.43%. The company had revenue of $106.80 million during the quarter, compared to the consensus estimate of $106.33 million. During the same period in the previous year, the company posted ($0.58) EPS. The firm's revenue was up 16.6% on a year-over-year basis. Research analysts anticipate that Phreesia will post -1.16 earnings per share for the current fiscal year.

Insider Activity at Phreesia

In other Phreesia news, COO Evan Roberts sold 2,873 shares of Phreesia stock in a transaction on Monday, January 6th. The shares were sold at an average price of $26.61, for a total transaction of $76,450.53. Following the completion of the transaction, the chief operating officer now directly owns 779,993 shares of the company's stock, valued at $20,755,613.73. The trade was a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Yvonne Hui sold 2,791 shares of the business's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $20.92, for a total transaction of $58,387.72. Following the transaction, the insider now owns 27,228 shares in the company, valued at $569,609.76. This trade represents a 9.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,703 shares of company stock valued at $2,343,541 over the last 90 days. 5.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Phreesia

Hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its stake in shares of Phreesia by 3.0% during the third quarter. Franklin Resources Inc. now owns 1,497,631 shares of the company's stock valued at $31,495,000 after buying an additional 42,973 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Phreesia by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,245,797 shares of the company's stock valued at $28,397,000 after acquiring an additional 55,934 shares during the period. M&T Bank Corp grew its position in Phreesia by 4.6% in the 3rd quarter. M&T Bank Corp now owns 35,127 shares of the company's stock valued at $801,000 after acquiring an additional 1,535 shares during the last quarter. Barclays PLC increased its stake in Phreesia by 83.6% in the third quarter. Barclays PLC now owns 94,929 shares of the company's stock worth $2,163,000 after purchasing an additional 43,225 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of Phreesia during the third quarter worth $247,000. 92.10% of the stock is currently owned by institutional investors.

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.