Phreesia (NYSE:PHR) Upgraded to Outperform at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Phreesia (NYSE:PHR - Free Report) from a sector perform rating to an outperform rating in a research note issued to investors on Wednesday, Marketbeat reports. Royal Bank of Canada currently has $32.00 target price on the stock, up from their prior target price of $24.00.

Several other equities research analysts have also commented on PHR. JMP Securities reissued a "market outperform" rating and issued a $30.00 price target on shares of Phreesia in a report on Tuesday, December 10th. Needham & Company LLC reissued a "buy" rating and set a $29.00 target price on shares of Phreesia in a research note on Tuesday, December 10th. Truist Financial raised their price target on shares of Phreesia from $31.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. Finally, Robert W. Baird cut their price objective 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 equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Phreesia presently has an average rating of "Buy" and an average price target of $30.64.

Phreesia Stock Performance

Phreesia stock traded up $1.44 during mid-day trading on Wednesday, hitting $28.42. The company had a trading volume of 668,317 shares, compared to its average volume of 410,783. The company has a current ratio of 1.74, a quick ratio of 1.77 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of -19.33 and a beta of 0.94. The company's fifty day moving average is $22.30 and its 200-day moving average is $22.49. Phreesia has a 12-month low of $17.07 and a 12-month high of $29.16.

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

Insider Activity

In other Phreesia news, CEO Chaim Indig sold 3,089 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 value of $64,961.67. Following the sale, the chief executive officer now owns 1,220,647 shares in the company, valued at $25,670,206.41. The trade was a 0.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Allison C. Hoffman sold 1,212 shares of the firm's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $21.03, for a total value of $25,488.36. Following the sale, the general counsel now directly owns 119,791 shares of the company's stock, valued at $2,519,204.73. The trade was a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,703 shares of company stock valued at $2,343,541. 5.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Phreesia

Several institutional investors and hedge funds have recently modified their holdings of PHR. Bank of New York Mellon Corp increased its position in shares of Phreesia by 8.4% during the second quarter. Bank of New York Mellon Corp now owns 214,430 shares of the company's stock worth $4,546,000 after acquiring an additional 16,614 shares during the period. Rhumbline Advisers increased its holdings in Phreesia by 1.0% during the 2nd quarter. Rhumbline Advisers now owns 82,136 shares of the company's stock worth $1,741,000 after purchasing an additional 853 shares during the period. Hsbc Holdings PLC acquired a new stake in Phreesia in the 2nd quarter valued at about $301,000. Sei Investments Co. boosted its stake in shares of Phreesia by 135.3% in the 2nd quarter. Sei Investments Co. now owns 165,327 shares of the company's stock valued at $3,505,000 after buying an additional 95,058 shares during the period. Finally, Ensign Peak Advisors Inc grew its position in shares of Phreesia by 3.2% during the second quarter. Ensign Peak Advisors Inc now owns 22,491 shares of the company's stock worth $477,000 after buying an additional 700 shares in 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.