Phreesia (NYSE:PHR) Hits New 12-Month High - Here's What Happened

Phreesia, Inc. (NYSE:PHR - Get Free Report)'s stock price hit a new 52-week high on Thursday . The company traded as high as $30.02 and last traded at $29.65, with a volume of 498053 shares. The stock had previously closed at $28.43.

Analyst Upgrades and Downgrades

PHR has been the subject of a number of research reports. Royal Bank of Canada upgraded shares of Phreesia from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $24.00 to $32.00 in a report on Wednesday, January 8th. Robert W. Baird decreased their price objective on shares of Phreesia from $34.00 to $30.00 and set an "outperform" rating for the company in a research note on Wednesday, December 11th. Piper Sandler reaffirmed an "overweight" rating and issued a $33.00 price objective (up previously from $31.00) on shares of Phreesia in a research note on Wednesday, January 29th. Citigroup raised their price objective on shares of Phreesia from $31.00 to $35.00 and gave the stock a "buy" rating in a research note on Friday, January 10th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $30.00 price objective on shares of Phreesia in a research note on Tuesday, December 10th. Thirteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Phreesia has a consensus rating of "Buy" and a consensus price target of $31.15.

Phreesia Stock Down 0.7 %

The business's 50 day simple moving average is $26.77 and its 200-day simple moving average is $23.64. The company has a market cap of $1.73 billion, a price-to-earnings ratio of -20.27 and a beta of 0.96. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.74 and a current ratio of 1.74.

Phreesia (NYSE:PHR - Get Free Report) last released its quarterly earnings results 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. 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%. Phreesia's revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.58) EPS. Sell-side analysts expect that Phreesia, Inc. will post -1.1 earnings per share for the current year.

Insider Activity

In other news, CFO Balaji Gandhi sold 4,813 shares of the firm's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $27.48, for a total transaction of $132,261.24. Following the transaction, the chief financial officer now owns 144,933 shares in the company, valued at approximately $3,982,758.84. This trade represents a 3.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Amy Beth Vanduyn sold 25,447 shares of Phreesia stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $20.93, for a total transaction of $532,605.71. Following the completion of the transaction, the senior vice president now owns 93,470 shares in the company, valued at $1,956,327.10. This trade represents a 21.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 167,173 shares of company stock worth $4,221,400. 5.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Invesco Ltd. raised its holdings in Phreesia by 0.9% in the 4th quarter. Invesco Ltd. now owns 40,249 shares of the company's stock worth $1,013,000 after acquiring an additional 357 shares during the period. NewEdge Advisors LLC grew its position in Phreesia by 12.1% in the 4th quarter. NewEdge Advisors LLC now owns 4,256 shares of the company's stock worth $107,000 after purchasing an additional 459 shares during the last quarter. Trust Point Inc. grew its position in Phreesia by 3.5% in the 3rd quarter. Trust Point Inc. now owns 17,887 shares of the company's stock worth $408,000 after purchasing an additional 607 shares during the last quarter. Johnson Financial Group Inc. grew its position in Phreesia by 381.3% in the 4th quarter. Johnson Financial Group Inc. now owns 1,131 shares of the company's stock worth $28,000 after purchasing an additional 896 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Phreesia by 3.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 27,935 shares of the company's stock worth $637,000 after purchasing an additional 905 shares during the last quarter. 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.