Phreesia (NYSE:PHR) Trading Up 7.9% - Here's What Happened

Shares of Phreesia, Inc. (NYSE:PHR - Get Free Report) rose 7.9% during trading on Tuesday . The stock traded as high as $28.97 and last traded at $29.11. Approximately 367,600 shares changed hands during mid-day trading, a decline of 2% from the average daily volume of 376,616 shares. The stock had previously closed at $26.98.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PHR shares. 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. Piper Sandler reissued an "overweight" rating and issued a $33.00 price objective (up from $31.00) on shares of Phreesia in a research note on Wednesday. KeyCorp increased their price target on Phreesia from $28.00 to $30.00 and gave the company an "overweight" rating in a report on Wednesday, January 8th. Citigroup upped their price objective on shares of Phreesia from $31.00 to $35.00 and gave the stock a "buy" rating in a report on Friday, January 10th. Finally, Robert W. Baird cut their target price on shares of Phreesia from $34.00 to $30.00 and set an "outperform" rating for the company in a research report on Wednesday, December 11th. Thirteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $31.15.

Phreesia Stock Down 1.8 %

The company has a market capitalization of $1.65 billion, a P/E ratio of -19.37 and a beta of 0.94. The business's fifty day moving average price is $25.15 and its 200 day moving average price is $23.32. 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 (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. The company had revenue of $106.80 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.58) earnings per share. As a group, equities research analysts predict that Phreesia, Inc. will post -1.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Phreesia news, COO Evan Roberts sold 2,873 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $26.61, for a total value of $76,450.53. Following the completion of the transaction, the chief operating officer now directly owns 779,993 shares of the company's stock, valued at approximately $20,755,613.73. The trade was a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael Weintraub sold 15,152 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $21.01, for a total transaction of $318,343.52. Following the transaction, the director now owns 242,827 shares in the company, valued at $5,101,795.27. The trade was a 5.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 166,153 shares of company stock worth $4,191,304 in the last quarter. 5.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Peregrine Capital Management LLC raised its stake in shares of Phreesia by 0.8% during the fourth quarter. Peregrine Capital Management LLC now owns 319,327 shares of the company's stock worth $8,034,000 after buying an additional 2,531 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Phreesia in the 4th quarter valued at approximately $76,000. Rhumbline Advisers boosted its stake in Phreesia by 7.4% during the 4th quarter. Rhumbline Advisers now owns 83,631 shares of the company's stock worth $2,104,000 after acquiring an additional 5,756 shares during the last quarter. R Squared Ltd acquired a new position in Phreesia during the fourth quarter valued at approximately $30,000. Finally, Wesbanco Bank Inc. raised its holdings in Phreesia by 76.9% in the fourth quarter. Wesbanco Bank Inc. now owns 46,000 shares of the company's stock worth $1,157,000 after purchasing an additional 20,000 shares during the period. Institutional investors and hedge funds 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.