Phreesia (NYSE:PHR) Shares Gap Up - What's Next?

Phreesia, Inc. (NYSE:PHR - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $26.98, but opened at $27.67. Phreesia shares last traded at $27.30, with a volume of 42,629 shares trading hands.

Analyst Ratings Changes

A number of research firms have recently commented on PHR. Truist Financial upped their price objective on Phreesia from $31.00 to $34.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. 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. 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. KeyCorp increased their target price on shares of Phreesia from $28.00 to $30.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Royal Bank of Canada upgraded shares of Phreesia from a "sector perform" rating to an "outperform" rating and raised their price target for the company from $24.00 to $32.00 in a report on Wednesday. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $30.64.

Phreesia Stock Performance

The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of -19.33 and a beta of 0.94. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.77 and a current ratio of 1.74. The stock's fifty day moving average is $22.50 and its two-hundred day moving average is $22.53.

Phreesia (NYSE:PHR - Get Free Report) last announced its earnings results on Monday, December 9th. The company reported ($0.25) earnings per share (EPS) 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 analyst estimates of $106.33 million. Phreesia had a negative return on equity of 32.78% and a negative net margin of 20.43%. The company's revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.58) earnings per share. Analysts forecast that Phreesia, Inc. will post -1.16 earnings per share for the current year.

Insider Transactions at Phreesia

In other news, insider Yvonne Hui sold 2,791 shares of Phreesia stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $20.92, for a total value of $58,387.72. Following the completion of the transaction, the insider now directly owns 27,228 shares of the company's stock, valued at approximately $569,609.76. The trade was a 9.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Amy Beth Vanduyn sold 25,447 shares of the business's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $20.93, for a total transaction of $532,605.71. Following the sale, the senior vice president now directly owns 93,470 shares of the company's stock, valued at approximately $1,956,327.10. This represents a 21.40 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,703 shares of company stock valued at $2,343,541. 5.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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