Phreesia (NYSE:PHR) Trading 3.9% Higher After Analyst Upgrade

Phreesia, Inc. (NYSE:PHR - Get Free Report) shot up 3.9% on Thursday after Canaccord Genuity Group raised their price target on the stock from $34.00 to $35.00. Canaccord Genuity Group currently has a buy rating on the stock. Phreesia traded as high as $24.80 and last traded at $24.74. 334,756 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 405,778 shares. The stock had previously closed at $23.80.

Several other brokerages also recently issued reports on PHR. Citigroup lifted their price objective on Phreesia from $31.00 to $35.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. Piper Sandler restated an "overweight" rating and issued a $33.00 target price (up from $31.00) on shares of Phreesia in a report on Wednesday, January 29th. Truist Financial lifted their price target on shares of Phreesia from $31.00 to $34.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. Royal Bank of Canada raised shares of Phreesia from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from $24.00 to $32.00 in a research note on Wednesday, January 8th. Finally, KeyCorp lifted their target price on shares of Phreesia from $28.00 to $30.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 8th. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Phreesia has an average rating of "Buy" and an average price target of $31.23.

Insiders Place Their Bets

In other news, General Counsel Allison C. Hoffman sold 3,495 shares of the business's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $24.88, for a total transaction of $86,955.60. Following the completion of the sale, the general counsel now owns 116,296 shares in the company, valued at approximately $2,893,444.48. The trade was a 2.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Weintraub sold 20,565 shares of the firm'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 in the company, valued at $6,080,388.08. The trade was a 7.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 183,887 shares of company stock worth $5,146,862 over the last three months. 5.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Phreesia

Hedge funds and other institutional investors have recently made changes to their positions in the business. Johnson Financial Group Inc. raised its position in Phreesia by 381.3% in the fourth quarter. Johnson Financial Group Inc. now owns 1,131 shares of the company's stock valued at $28,000 after purchasing an additional 896 shares during the period. R Squared Ltd acquired a new stake in shares of Phreesia in the fourth quarter valued at about $30,000. BankPlus Trust Department purchased a new stake in shares of Phreesia during the 4th quarter valued at about $34,000. Quarry LP lifted its position in Phreesia by 210.9% during the 4th quarter. Quarry LP now owns 2,835 shares of the company's stock worth $71,000 after acquiring an additional 1,923 shares in the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in Phreesia in the 4th quarter worth approximately $76,000. Institutional investors and hedge funds own 92.10% of the company's stock.

Phreesia Stock Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.74 and a current ratio of 1.74. The stock has a fifty day simple moving average of $27.32 and a two-hundred day simple moving average of $23.99. The stock has a market cap of $1.50 billion, a PE ratio of -17.66 and a beta of 1.03.

Remove Ads

Phreesia (NYSE:PHR - Get Free Report) last announced its earnings results on Monday, December 9th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $106.80 million during the quarter, compared to the consensus estimate of $106.33 million. During the same period in the prior year, the firm earned ($0.58) earnings per share. The business's quarterly revenue was up 16.6% compared to the same quarter last year. Equities analysts anticipate that Phreesia, Inc. will post -1.1 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.