Mizuho Cuts Phreesia (NYSE:PHR) Price Target to $28.00

Phreesia (NYSE:PHR) had its price target lowered by Mizuho from $36.00 to $28.00 in a research note released on Wednesday, MarketBeat Ratings reports. Mizuho currently has an outperform rating on the stock.

A number of other brokerages also recently commented on PHR. Truist Financial boosted their target price on shares of Phreesia from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Citigroup cut their price target on Phreesia from $34.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday. Robert W. Baird lowered their price objective on Phreesia from $31.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. dropped their price objective on Phreesia from $32.00 to $29.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Piper Sandler boosted their target price on Phreesia from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.13.

Phreesia Stock Performance

Shares of Phreesia stock opened at $16.22 on Wednesday. The business has a 50-day simple moving average of $21.46 and a 200-day simple moving average of $25.01. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.12 and a current ratio of 2.44. Phreesia has a one year low of $15.41 and a one year high of $32.76. The company has a market cap of $977.84 million, a PE ratio of -162.17 and a beta of 0.64.

Phreesia (NYSE:PHR) last issued its quarterly earnings results on Monday, December 8th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.11. Phreesia had a negative net margin of 1.16% and a negative return on equity of 1.31%. The company had revenue of $120.33 million during the quarter, compared to the consensus estimate of $119.98 million. During the same quarter in the previous year, the firm earned ($0.25) earnings per share. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. On average, equities research analysts forecast that Phreesia will post -1.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider David Linetsky sold 2,059 shares of the stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $22.36, for a total value of $46,039.24. Following the completion of the sale, the insider directly owned 171,829 shares of the company’s stock, valued at approximately $3,842,096.44. This represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Evan Roberts sold 1,888 shares of the firm’s stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $22.36, for a total transaction of $42,215.68. Following the transaction, the insider owned 724,949 shares in the company, valued at approximately $16,209,859.64. This trade represents a 0.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 26,174 shares of company stock worth $603,835. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of Phreesia

A number of large investors have recently bought and sold shares of the business. Federated Hermes Inc. acquired a new position in Phreesia in the third quarter valued at $32,000. Asset Management One Co. Ltd. acquired a new position in Phreesia in the 3rd quarter valued at about $45,000. State of Alaska Department of Revenue purchased a new stake in Phreesia during the 3rd quarter valued at approximately $83,000. Farther Finance Advisors LLC raised its stake in Phreesia by 9,375.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,032 shares of the company’s stock valued at $86,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Anchor Investment Management LLC acquired a new stake in Phreesia during the 3rd quarter worth approximately $118,000. Institutional investors and hedge funds own 92.10% 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. 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.