Phreesia (NYSE:PHR) Earns “Outperform” Rating from Raymond James

Raymond James restated their outperform rating on shares of Phreesia (NYSE:PHR) in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a $30.00 target price on the stock, up from their prior target price of $25.00.

Several other research analysts have also issued reports on PHR. Needham & Company LLC reaffirmed a buy rating and set a $29.00 target price on shares of Phreesia in a research report on Friday. Barclays started coverage on Phreesia in a research report on Wednesday, January 3rd. They set an overweight rating and a $29.00 target price for the company. DA Davidson raised Phreesia from a neutral rating to a buy rating and raised their target price for the stock from $30.00 to $32.00 in a research report on Wednesday, January 17th. Royal Bank of Canada raised their target price on Phreesia from $17.00 to $23.00 and gave the stock a sector perform rating in a research report on Friday. Finally, KeyCorp lowered their target price on Phreesia from $40.00 to $30.00 and set an overweight rating for the company in a research report on Thursday, December 7th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $32.71.

Phreesia Price Performance

NYSE PHR traded down $0.82 on Friday, hitting $22.93. 693,167 shares of the company’s stock were exchanged, compared to its average volume of 545,245. The stock has a 50-day moving average of $25.31 and a 200-day moving average of $20.99. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.03. Phreesia has a 52 week low of $12.05 and a 52 week high of $36.13. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -9.10 and a beta of 0.93.

Phreesia (NYSE:PHR) last announced its quarterly earnings results on Thursday, March 14th. The company reported ($0.56) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $95.00 million during the quarter, compared to analysts’ expectations of $93.52 million. During the same period in the prior year, the company earned ($0.72) EPS. Phreesia’s revenue was up 24.0% compared to the same quarter last year. Analysts expect that Phreesia will post -1.47 earnings per share for the current year.

Insider Activity

In other news, General Counsel Allison C. Hoffman sold 1,316 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $24.55, for a total value of $32,307.80. Following the completion of the sale, 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 document filed with the SEC, which is accessible through this link. In other Phreesia news, COO Evan Roberts sold 2,247 shares of Phreesia stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $24.55, for a total transaction of $55,163.85. Following the completion of the transaction, the chief operating officer now owns 795,613 shares in the company, valued at approximately $19,532,299.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Allison C. Hoffman sold 1,316 shares of Phreesia stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $24.55, for a total value of $32,307.80. Following the transaction, the general counsel now owns 144,464 shares of the company’s stock, valued at approximately $3,546,591.20. The disclosure for this sale can be found here. Insiders sold a total of 9,950 shares of company stock worth $246,213 in the last three months. Company insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Phreesia

A number of hedge funds have recently added to or reduced their stakes in the stock. Brown Advisory Inc. lifted its position in shares of Phreesia by 22.2% during the 4th quarter. Brown Advisory Inc. now owns 3,950,356 shares of the company’s stock worth $91,451,000 after buying an additional 716,374 shares in the last quarter. FMR LLC lifted its position in shares of Phreesia by 8.6% during the 3rd quarter. FMR LLC now owns 7,856,551 shares of the company’s stock worth $146,760,000 after buying an additional 624,456 shares in the last quarter. Rock Springs Capital Management LP lifted its position in shares of Phreesia by 36.1% during the 3rd quarter. Rock Springs Capital Management LP now owns 1,776,391 shares of the company’s stock worth $33,183,000 after buying an additional 471,391 shares in the last quarter. Thrivent Financial for Lutherans bought a new position in shares of Phreesia during the 2nd quarter worth approximately $13,668,000. Finally, Norges Bank bought a new position in shares of Phreesia during the 4th quarter worth approximately $8,199,000. Institutional investors and hedge funds own 94.37% 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. 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.