Citigroup Raises Phreesia (NYSE:PHR) Price Target to $35.00

Phreesia (NYSE:PHR - Get Free Report) had its price target hoisted by research analysts at Citigroup from $31.00 to $35.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's target price points to a potential upside of 30.84% from the stock's previous close.

Other equities research analysts have also issued research reports about the stock. JMP Securities reissued a "market outperform" rating and set a $30.00 price objective on shares of Phreesia in a report on Tuesday, December 10th. KeyCorp raised their price target on shares of Phreesia from $28.00 to $30.00 and gave the company an "overweight" rating in a report on Wednesday. Royal Bank of Canada upgraded shares of Phreesia from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from $24.00 to $32.00 in a research report on Wednesday. Needham & Company LLC reiterated a "buy" rating and issued a $29.00 price objective on shares of Phreesia in a research report on Friday. Finally, Truist Financial boosted their target price on Phreesia from $31.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $31.00.

Phreesia Price Performance

Shares of Phreesia stock traded down $1.68 during trading on Friday, hitting $26.75. 625,124 shares of the company's stock traded hands, compared to its average volume of 446,504. The company has a market cap of $1.55 billion, a PE ratio of -18.20 and a beta of 0.94. The firm's fifty day moving average price is $22.87 and its 200 day moving average price is $22.62. Phreesia has a twelve month low of $17.07 and a twelve month 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 announced its quarterly earnings results on Monday, December 9th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate 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 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 earned ($0.58) EPS. Phreesia's quarterly revenue was up 16.6% on a year-over-year basis. Analysts forecast that Phreesia will post -1.16 earnings per share for the current year.

Insider Transactions at Phreesia

In other news, SVP David Linetsky sold 2,011 shares of Phreesia stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $21.03, for a total transaction of $42,291.33. Following the completion of the sale, the senior vice president now owns 201,307 shares of the company's stock, valued at approximately $4,233,486.21. This trade represents a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Allison C. Hoffman sold 1,212 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $21.03, for a total transaction of $25,488.36. Following the transaction, the general counsel now owns 119,791 shares in the company, valued at approximately $2,519,204.73. The trade was a 1.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,384 shares of company stock worth $2,418,475 in the last ninety days. Insiders own 5.80% of the company's stock.

Institutional Investors Weigh In On Phreesia

A number of large investors have recently modified their holdings of PHR. Trust Point Inc. raised its position in Phreesia by 3.5% in the third quarter. Trust Point Inc. now owns 17,887 shares of the company's stock valued at $408,000 after purchasing an additional 607 shares during the last quarter. Ensign Peak Advisors Inc increased its stake in shares of Phreesia by 3.2% in the second quarter. Ensign Peak Advisors Inc now owns 22,491 shares of the company's stock valued at $477,000 after buying an additional 700 shares during the period. Rhumbline Advisers raised its holdings in Phreesia by 1.0% in the 2nd quarter. Rhumbline Advisers now owns 82,136 shares of the company's stock valued at $1,741,000 after buying an additional 853 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Phreesia by 3.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 27,935 shares of the company's stock worth $637,000 after buying an additional 905 shares during the period. Finally, MetLife Investment Management LLC boosted its position in Phreesia by 3.8% during the 3rd quarter. MetLife Investment Management LLC now owns 30,781 shares of the company's stock worth $701,000 after buying an additional 1,120 shares during the period. Institutional investors and hedge funds own 92.10% of the company's stock.

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.