Phreesia (NYSE:PHR) Shares Gap Up on Analyst Upgrade

Phreesia, Inc. (NYSE:PHR)’s share price gapped up prior to trading on Wednesday after Citigroup raised their price target on the stock from $31.00 to $35.00. The stock had previously closed at $26.98, but opened at $27.67. Citigroup currently has a buy rating on the stock. Phreesia shares last traded at $27.30, with a volume of 42,629 shares trading hands.

A number of other analysts also recently commented on the company. JMP Securities reiterated a “market outperform” rating and set a $30.00 target price on shares of Phreesia in a research report on Tuesday, December 10th. Needham & Company LLC reiterated a “buy” rating and set a $29.00 target price on shares of Phreesia in a research report on Friday. KeyCorp upped their price objective on Phreesia from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Wednesday. Truist Financial upped their price objective on Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, Robert W. Baird reduced their price objective on Phreesia from $34.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $31.00.

Insider Activity at Phreesia

In other Phreesia news, insider Yvonne Hui sold 2,791 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $20.92, for a total transaction of $58,387.72. Following the completion of the sale, the insider now directly owns 27,228 shares in the company, valued at $569,609.76. This represents a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Evan Roberts sold 2,873 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $26.61, for a total value of $76,450.53. Following the sale, the chief operating officer now owns 779,993 shares of the company’s stock, valued at $20,755,613.73. This represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,703 shares of company stock worth $2,343,541. 5.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Phreesia

Institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC boosted its position in shares of Phreesia by 2,179.7% in the third quarter. International Assets Investment Management LLC now owns 1,459 shares of the company’s stock worth $33,000 after buying an additional 1,395 shares during the period. Lombard Odier Asset Management USA Corp acquired a new stake in Phreesia during the 2nd quarter valued at approximately $202,000. Point72 DIFC Ltd acquired a new stake in Phreesia during the 2nd quarter valued at approximately $209,000. XTX Topco Ltd acquired a new stake in Phreesia during the 3rd quarter valued at approximately $247,000. Finally, Hsbc Holdings PLC acquired a new stake in Phreesia during the 2nd quarter valued at approximately $301,000. Hedge funds and other institutional investors own 92.10% of the company’s stock.

Phreesia Trading Down 5.9 %

The business has a 50 day simple moving average of $22.70 and a two-hundred day simple moving average of $22.57. The company has a current ratio of 1.74, a quick ratio of 1.77 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -18.20 and a beta of 0.94.

Phreesia (NYSE:PHR) last issued its quarterly earnings data on Monday, December 9th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.04. Phreesia had a negative return on equity of 32.78% and a negative net margin of 20.43%. The firm had revenue of $106.80 million during the quarter, compared to analyst estimates of $106.33 million. During the same quarter last year, the firm earned ($0.58) EPS. Phreesia’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, equities analysts anticipate that Phreesia, Inc. will post -1.16 EPS for the current 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.