Needham & Company LLC Reiterates Buy Rating for Phreesia (NYSE:PHR)

Needham & Company LLC restated their buy rating on shares of Phreesia (NYSE:PHR) in a research report report published on Friday, Benzinga reports. They currently have a $29.00 price target on the stock.

Several other equities analysts have also commented on the company. Barclays assumed coverage on Phreesia in a research note on Wednesday, January 3rd. They issued an overweight rating and a $29.00 target price for the company. DA Davidson upgraded Phreesia from a neutral rating to a buy rating and upped their price target for the stock from $30.00 to $32.00 in a research note on Wednesday, January 17th. Raymond James decreased their target price on Phreesia from $30.00 to $25.00 and set an outperform rating for the company in a research report on Thursday, December 7th. Robert W. Baird upped their target price on Phreesia from $30.00 to $31.00 and gave the stock an outperform rating in a research report on Monday. Finally, JMP Securities decreased their target price on Phreesia from $39.00 to $28.00 and set a market outperform rating for the company in a research report on Wednesday, December 6th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $32.71.

Phreesia Price Performance

PHR traded down $0.82 during trading on Friday, reaching $22.93. 693,167 shares of the stock were exchanged, compared to its average volume of 545,245. The business’s 50 day moving average price is $25.31 and its two-hundred day moving average price is $20.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.02 and a quick ratio of 2.02. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of -9.10 and a beta of 0.93. Phreesia has a 1 year low of $12.05 and a 1 year high of $36.13.

Phreesia (NYSE:PHR) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.56) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.02. Phreesia had a negative return on equity of 52.97% and a negative net margin of 38.42%. The business had revenue of $95.00 million for the quarter, compared to the consensus estimate of $93.52 million. During the same period in the prior year, the business earned ($0.72) earnings per share. The business’s revenue was up 24.0% on a year-over-year basis. As a group, equities research analysts anticipate that Phreesia will post -1.47 earnings per share for the current year.

Insider Transactions at Phreesia

In other news, General Counsel Allison C. Hoffman sold 1,316 shares of Phreesia stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $24.55, for a total transaction of $32,307.80. Following the transaction, the general counsel now directly owns 144,464 shares in the company, valued at approximately $3,546,591.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, General Counsel Allison C. Hoffman sold 1,316 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $24.55, for a total transaction of $32,307.80. Following the completion of the sale, the general counsel now directly owns 144,464 shares of the company’s stock, valued at approximately $3,546,591.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Chaim Indig sold 3,586 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $24.55, for a total value of $88,036.30. Following the sale, the chief executive officer now directly owns 1,280,410 shares of the company’s stock, valued at $31,434,065.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,950 shares of company stock worth $246,213. 5.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Phreesia

A number of institutional investors have recently made changes to their positions in PHR. State of Wyoming grew its position in Phreesia by 34.6% during the second quarter. State of Wyoming now owns 1,918 shares of the company’s stock worth $59,000 after buying an additional 493 shares in the last quarter. American International Group Inc. boosted its holdings in Phreesia by 2.3% during the fourth quarter. American International Group Inc. now owns 26,342 shares of the company’s stock valued at $610,000 after purchasing an additional 591 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Phreesia by 3.6% during the second quarter. The Manufacturers Life Insurance Company now owns 20,545 shares of the company’s stock valued at $637,000 after purchasing an additional 710 shares in the last quarter. Capital Impact Advisors LLC boosted its holdings in Phreesia by 5.2% during the second quarter. Capital Impact Advisors LLC now owns 15,771 shares of the company’s stock valued at $489,000 after purchasing an additional 781 shares in the last quarter. Finally, Captrust Financial Advisors boosted its holdings in Phreesia by 154.6% during the second quarter. Captrust Financial Advisors now owns 1,426 shares of the company’s stock valued at $36,000 after purchasing an additional 866 shares in the last quarter. 94.37% of the stock is currently owned by institutional investors.

Phreesia Company Profile

Phreesia, Inc provides an integrated SaaS-based software and payment platform for the healthcare industry in the United States and Canada. Its Phreesia Platform offers access solutions that offers appointment scheduling system for online appointments, reminders, and referral tracking; 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.