Piper Sandler Reiterates Overweight Rating for Phreesia (NYSE:PHR)

Piper Sandler reaffirmed their overweight rating on shares of Phreesia (NYSE:PHR - Free Report) in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a $33.00 target price on the stock, up from their prior target price of $31.00.

Several other research firms have also issued reports on PHR. Needham & Company LLC reissued a "buy" rating and issued a $29.00 price target on shares of Phreesia in a research report on Friday, January 10th. KeyCorp increased their price target on shares of Phreesia from $28.00 to $30.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 8th. Truist Financial raised their price objective 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 raised their price objective for the stock from $24.00 to $32.00 in a report on Wednesday, January 8th. Finally, Robert W. Baird dropped their price objective on shares of Phreesia from $34.00 to $30.00 and set an "outperform" rating for the company in a report on Wednesday, December 11th. Thirteen research analysts have rated the stock with a buy rating, According to MarketBeat, Phreesia presently has a consensus rating of "Buy" and a consensus price target of $31.15.

Phreesia Stock Performance

PHR stock traded down $0.53 during mid-day trading on Wednesday, reaching $28.47. 306,682 shares of the stock traded hands, compared to its average volume of 388,179. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.04. Phreesia has a 52 week low of $17.07 and a 52 week high of $29.90. The business has a 50-day moving average of $24.98 and a two-hundred day moving average of $23.28. The firm has a market capitalization of $1.65 billion, a PE ratio of -19.37 and a beta of 0.94.

Phreesia (NYSE:PHR - Get Free Report) last released its quarterly earnings results on Monday, December 9th. The company reported ($0.25) earnings per share (EPS) 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 period in the prior year, the company earned ($0.58) earnings per share. The business's quarterly revenue was up 16.6% compared to the same quarter last year. As a group, equities analysts predict that Phreesia will post -1.1 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Michael Weintraub sold 15,152 shares of the firm's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $21.01, for a total transaction of $318,343.52. Following the completion of the transaction, the director now owns 242,827 shares of the company's stock, valued at approximately $5,101,795.27. This trade represents a 5.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Allison C. Hoffman sold 3,495 shares of the firm's stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $24.88, for a total transaction of $86,955.60. Following the transaction, the general counsel now directly owns 116,296 shares of the company's stock, valued at $2,893,444.48. The trade was a 2.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 165,653 shares of company stock worth $4,176,464. Corporate insiders own 5.80% of the company's stock.

Institutional Investors Weigh In On Phreesia

Large investors have recently bought and sold shares of the stock. Trust Point Inc. grew its holdings in shares of Phreesia by 3.5% during the third quarter. Trust Point Inc. now owns 17,887 shares of the company's stock valued at $408,000 after buying an additional 607 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Phreesia by 3.3% during the third quarter. The Manufacturers Life Insurance Company now owns 27,935 shares of the company's stock valued at $637,000 after buying an additional 905 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of Phreesia by 3.8% during the third quarter. MetLife Investment Management LLC now owns 30,781 shares of the company's stock valued at $701,000 after buying an additional 1,120 shares during the last quarter. R Squared Ltd acquired a new position in shares of Phreesia during the fourth quarter valued at about $30,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Phreesia by 9.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,015 shares of the company's stock valued at $319,000 after buying an additional 1,258 shares during the last quarter. 92.10% of the stock is currently owned by institutional investors and hedge funds.

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.