Phreesia’s (PHR) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Phreesia (NYSE:PHR) in a report released on Monday morning,Benzinga reports. Needham & Company LLC currently has a $35.00 price target on the stock.

Other analysts also recently issued reports about the company. KeyCorp lowered their price target on Phreesia from $35.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday, October 8th. Raymond James Financial set a $33.00 target price on Phreesia and gave the stock an “outperform” rating in a research report on Friday, September 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Phreesia in a research note on Friday, October 31st. Truist Financial raised their target price on Phreesia from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, September 5th. Finally, Canaccord Genuity Group upped their price target on Phreesia from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.13.

Phreesia Stock Up 2.5%

PHR opened at $15.82 on Monday. Phreesia has a 1 year low of $15.41 and a 1 year high of $32.76. The firm has a 50 day moving average price of $21.73 and a 200 day moving average price of $25.12. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.12 and a current ratio of 2.12. The company has a market cap of $947.48 million, a PE ratio of -158.13 and a beta of 0.64.

Phreesia (NYSE:PHR) last released its quarterly earnings data on Monday, December 8th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.11. Phreesia had a negative net margin of 1.16% and a negative return on equity of 1.36%. The company had revenue of $120.33 million during the quarter, compared to the consensus estimate of $119.98 million. During the same period in the previous year, the firm earned ($0.25) earnings per share. Phreesia’s revenue for the quarter was up 12.7% on a year-over-year basis. Sell-side analysts expect that Phreesia will post -1.1 earnings per share for the current year.

Insider Transactions at Phreesia

In other news, insider David Linetsky sold 2,165 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $23.28, for a total transaction of $50,401.20. Following the completion of the transaction, the insider directly owned 174,952 shares in the company, valued at approximately $4,072,882.56. This represents a 1.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Amy Beth Vanduyn sold 1,762 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $23.28, for a total transaction of $41,019.36. Following the sale, the senior vice president directly owned 112,479 shares of the company’s stock, valued at $2,618,511.12. The trade was a 1.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 26,174 shares of company stock valued at $603,835 in the last three months. 5.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PHR. Vanguard Group Inc. raised its stake in shares of Phreesia by 8.3% in the 3rd quarter. Vanguard Group Inc. now owns 5,704,786 shares of the company’s stock valued at $134,177,000 after purchasing an additional 437,462 shares in the last quarter. Greenhouse Funds LLLP increased its holdings in Phreesia by 16.8% in the third quarter. Greenhouse Funds LLLP now owns 3,882,527 shares of the company’s stock valued at $91,317,000 after buying an additional 557,265 shares during the last quarter. Champlain Investment Partners LLC increased its holdings in Phreesia by 20.0% in the first quarter. Champlain Investment Partners LLC now owns 2,946,489 shares of the company’s stock valued at $75,312,000 after buying an additional 490,340 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Phreesia by 108.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,644,988 shares of the company’s stock valued at $67,606,000 after buying an additional 1,377,904 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Phreesia by 1.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,553,192 shares of the company’s stock worth $36,531,000 after buying an additional 28,941 shares during the last quarter. 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.