Phreesia (NYSE:PHR) Stock Price Down 5.7%

Shares of Phreesia, Inc. (NYSE:PHR) dropped 5.7% during trading on Wednesday . The company traded as low as $21.71 and last traded at $21.82. Approximately 292,763 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 514,009 shares. The stock had previously closed at $23.14.

Wall Street Analyst Weigh In

PHR has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $23.00 price target on shares of Phreesia in a research note on Thursday, March 21st. Canaccord Genuity Group boosted their target price on Phreesia from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. DA Davidson reissued a “neutral” rating and set a $32.00 target price on shares of Phreesia in a research note on Friday, March 15th. JMP Securities boosted their target price on Phreesia from $28.00 to $30.00 and gave the stock a “market outperform” rating in a research note on Thursday, March 21st. Finally, Barclays started coverage on Phreesia in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $29.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.62.

Phreesia Stock Performance

The company has a market capitalization of $1.16 billion, a P/E ratio of -8.17 and a beta of 0.92. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.78 and a quick ratio of 1.78. The company has a fifty day moving average price of $23.66 and a two-hundred day moving average price of $21.41.

Phreesia (NYSE:PHR) last released its quarterly earnings results on Thursday, March 14th. The company reported ($0.56) earnings per share for the quarter, topping the consensus estimate of ($0.58) by $0.02. The company had revenue of $95.00 million for the quarter, compared to analysts’ expectations of $93.52 million. Phreesia had a negative return on equity of 53.33% and a negative net margin of 38.42%. The business’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.72) earnings per share. Equities analysts forecast that Phreesia, Inc. will post -1.48 earnings per share for the current fiscal year.

Insider Activity at Phreesia

In other Phreesia news, COO Evan Roberts sold 25,962 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $23.52, for a total transaction of $610,626.24. Following the transaction, the chief operating officer now directly owns 728,570 shares in the company, valued at approximately $17,135,966.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Phreesia news, General Counsel Allison C. Hoffman sold 5,549 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $22.62, for a total transaction of $125,518.38. Following the transaction, the general counsel now directly owns 141,485 shares in the company, valued at approximately $3,200,390.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Evan Roberts sold 25,962 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $23.52, for a total value of $610,626.24. Following the transaction, the chief operating officer now owns 728,570 shares in the company, valued at $17,135,966.40. The disclosure for this sale can be found here. Insiders have sold 82,989 shares of company stock worth $1,911,735 over the last ninety days. Insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Phreesia

Institutional investors have recently modified their holdings of the company. CI Investments Inc. raised its position in shares of Phreesia by 6.6% during the third quarter. CI Investments Inc. now owns 477,265 shares of the company’s stock worth $8,915,000 after purchasing an additional 29,500 shares during the period. Schroder Investment Management Group acquired a new position in shares of Phreesia during the third quarter worth approximately $6,514,000. TimesSquare Capital Management LLC raised its position in shares of Phreesia by 7.8% during the third quarter. TimesSquare Capital Management LLC now owns 774,079 shares of the company’s stock worth $14,460,000 after purchasing an additional 55,793 shares during the period. Trust Point Inc. acquired a new position in shares of Phreesia during the fourth quarter worth approximately $239,000. Finally, Lazard Asset Management LLC raised its position in shares of Phreesia by 58.6% during the third quarter. Lazard Asset Management LLC now owns 424,047 shares of the company’s stock worth $7,921,000 after purchasing an additional 156,711 shares during the period. 92.10% of the stock is 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.