Phreesia (NYSE:PHR) Price Target Increased to $37.00 by Analysts at Canaccord Genuity Group

Phreesia (NYSE:PHR) had its target price upped by Canaccord Genuity Group from $36.00 to $37.00 in a report issued on Friday morning, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Other analysts also recently issued research reports about the company. Truist Financial assumed coverage on Phreesia in a research report on Monday, February 26th. They issued a buy rating and a $35.00 target price on the stock. Robert W. Baird lifted their target price on Phreesia from $30.00 to $31.00 and gave the company an outperform rating in a research report on Monday. JMP Securities reaffirmed a market outperform rating and issued a $28.00 target price on shares of Phreesia in a research report on Friday. Barclays assumed coverage on Phreesia in a research report on Wednesday, January 3rd. They set an overweight rating and a $29.00 price target on the stock. Finally, Raymond James reissued an outperform rating and set a $30.00 price target (up previously from $25.00) on shares of Phreesia in a research report on Friday. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Phreesia has an average rating of Moderate Buy and an average price target of $32.71.

Phreesia Stock Down 3.5 %

Shares of PHR traded down $0.82 during midday trading on Friday, hitting $22.93. The stock had a trading volume of 693,167 shares, compared to its average volume of 545,245. The company has a 50 day simple moving average of $25.31 and a two-hundred day simple moving average of $20.99. Phreesia has a twelve month low of $12.05 and a twelve month high of $36.13. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -9.10 and a beta of 0.93. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.02 and a quick ratio of 2.02.

Phreesia (NYSE:PHR) last released its quarterly earnings results 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 firm had revenue of $95.00 million for the quarter, compared to the consensus estimate of $93.52 million. During the same quarter last year, the business posted ($0.72) EPS. The company’s revenue for the quarter was up 24.0% on a year-over-year basis. On average, analysts anticipate that Phreesia will post -1.47 EPS for the current year.

Insider Activity at Phreesia

In related news, General Counsel Allison C. Hoffman sold 1,316 shares of the business’s stock in a transaction that occurred on 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 $3,546,591.20. The sale was disclosed in a filing with the SEC, which is available at this link. In other Phreesia news, General Counsel Allison C. Hoffman sold 1,316 shares of the company’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 in the company, valued at $3,546,591.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chaim Indig sold 3,586 shares of the company’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 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. Over the last ninety days, insiders sold 9,950 shares of company stock worth $246,213. Company insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Phreesia by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 4,628,441 shares of the company’s stock worth $107,148,000 after buying an additional 194,035 shares in the last quarter. American International Group Inc. increased its holdings in shares of Phreesia by 2.3% during the fourth quarter. American International Group Inc. now owns 26,342 shares of the company’s stock worth $610,000 after buying an additional 591 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Phreesia by 56.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 74,595 shares of the company’s stock worth $1,728,000 after buying an additional 26,868 shares in the last quarter. Barclays PLC increased its holdings in shares of Phreesia by 376.7% during the fourth quarter. Barclays PLC now owns 88,531 shares of the company’s stock worth $2,048,000 after buying an additional 69,959 shares in the last quarter. Finally, Voloridge Investment Management LLC increased its holdings in shares of Phreesia by 518.9% during the fourth quarter. Voloridge Investment Management LLC now owns 169,413 shares of the company’s stock worth $3,922,000 after buying an additional 142,041 shares in the last quarter. 94.37% 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. 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.