Phreesia (NYSE:PHR) Price Target Raised to $35.00

Phreesia (NYSE:PHR - Get Free Report) had its price objective raised by stock analysts at Canaccord Genuity Group from $34.00 to $35.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's price objective would indicate a potential upside of 37.36% from the company's current price.

PHR has been the topic of a number of other reports. Royal Bank of Canada raised shares of Phreesia from a "sector perform" rating to an "outperform" rating and upped their target price for the company from $24.00 to $32.00 in a report on Wednesday, January 8th. Robert W. Baird dropped their price objective on Phreesia from $34.00 to $30.00 and set an "outperform" rating on the stock in a research note on Wednesday, December 11th. JMP Securities reiterated a "market outperform" rating and set a $30.00 target price on shares of Phreesia in a research note on Tuesday, December 10th. Citigroup increased their price target on Phreesia from $31.00 to $35.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Finally, Truist Financial lifted their price objective on shares of Phreesia from $31.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Thirteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, Phreesia has a consensus rating of "Buy" and a consensus target price of $31.23.

Phreesia Stock Up 7.1 %

Shares of NYSE:PHR traded up $1.68 during trading on Thursday, hitting $25.48. 474,147 shares of the company were exchanged, compared to its average volume of 408,761. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of -17.33 and a beta of 1.03. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.04. Phreesia has a fifty-two week low of $17.07 and a fifty-two week high of $30.53. The firm has a fifty day moving average price of $27.32 and a two-hundred day moving average price of $23.99.

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

Insider Activity

In other Phreesia news, CFO Balaji Gandhi sold 28,759 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $30.00, for a total transaction of $862,770.00. Following the sale, the chief financial officer now directly owns 116,174 shares in the company, valued at $3,485,220. This represents a 19.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael Weintraub sold 20,565 shares of the business's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $25.04, for a total transaction of $514,947.60. Following the completion of the transaction, the director now owns 242,827 shares of the company's stock, valued at $6,080,388.08. The trade was a 7.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 183,887 shares of company stock worth $5,146,862. Corporate insiders own 5.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Deerfield Management Company L.P. Series C grew its position in shares of Phreesia by 133.6% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 1,271,832 shares of the company's stock worth $31,999,000 after buying an additional 727,384 shares during the period. Greenhouse Funds LLLP increased its position in shares of Phreesia by 27.9% during 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 bought a new stake in shares of Phreesia during the 4th quarter worth $10,657,000. Millennium Management LLC boosted its holdings in shares of Phreesia by 83.2% in the 4th quarter. Millennium Management LLC now owns 653,634 shares of the company's stock worth $16,445,000 after buying an additional 296,863 shares during the last quarter. Finally, ExodusPoint Capital Management LP increased its holdings in Phreesia by 448.6% during the fourth 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. 92.10% of the stock is owned by 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.

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