Royal Bank Of Canada Initiates Coverage on Phreesia (NYSE:PHR)

Royal Bank Of Canada initiated coverage on shares of Phreesia (NYSE:PHR) in a report issued on Friday. The firm set an “outperform” rating and a $26.00 price target on the stock. Royal Bank Of Canada’s price target points to a potential upside of 54.03% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the company. DA Davidson increased their price target on Phreesia from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. Mizuho decreased their target price on Phreesia from $36.00 to $28.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 10th. KeyCorp reduced their price target on shares of Phreesia from $35.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 8th. Zacks Research lowered shares of Phreesia from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Finally, Robert W. Baird reduced their price objective on Phreesia from $31.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 10th. Seventeen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.29.

Phreesia Stock Performance

Shares of Phreesia stock opened at $16.88 on Friday. The business’s 50 day moving average price is $19.06 and its 200 day moving average price is $23.81. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -168.78 and a beta of 0.61. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.44 and a current ratio of 2.44. Phreesia has a one year low of $15.41 and a one year high of $32.76.

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. The firm had revenue of $120.33 million during the quarter, compared to analysts’ expectations of $119.98 million. Phreesia had a negative net margin of 1.16% and a negative return on equity of 1.31%. Phreesia’s revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business earned ($0.25) earnings per share. On average, research analysts predict that Phreesia will post -1.1 EPS for the current year.

Insider Activity

In other Phreesia news, General Counsel Allison C. Hoffman sold 1,241 shares of the company’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 $27,748.76. Following the completion of the sale, the general counsel directly owned 135,737 shares of the company’s stock, valued at $3,035,079.32. This represents a 0.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Evan Roberts sold 1,888 shares of the business’s stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $22.36, for a total value of $42,215.68. Following the completion of the transaction, the insider directly owned 724,949 shares in the company, valued at approximately $16,209,859.64. The trade was a 0.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 7,534 shares of company stock valued at $165,514. 5.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Phreesia

Institutional investors have recently added to or reduced their stakes in the business. Federated Hermes Inc. acquired a new position in Phreesia during the third quarter worth $32,000. Asset Management One Co. Ltd. acquired a new position in shares of Phreesia during the 3rd quarter worth $45,000. State of Alaska Department of Revenue acquired a new stake in Phreesia during the 3rd quarter valued at $83,000. Farther Finance Advisors LLC lifted its position in shares of Phreesia by 9,375.0% in the second 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 in the last quarter. Finally, Anchor Investment Management LLC purchased a new stake in shares of Phreesia in the third quarter valued at $118,000. Hedge funds and other institutional investors own 92.10% of the company’s stock.

Phreesia Company Profile

Phreesia, Inc (NYSE: PHR) is a provider of patient intake management solutions designed to streamline front-office workflows for healthcare organizations. The company’s cloud-based platform digitizes patient registration, appointment scheduling, insurance verification, consent documentation and payment collection through touchscreen kiosks, tablets and mobile devices. By replacing paper forms and manual processes, Phreesia enhances data accuracy, reduces administrative burden and improves the patient experience.

Founded in 2000 by Chaim Indig and headquartered in Burlington, Massachusetts, Phreesia offers a modular software suite that integrates with electronic medical record (EMR) and practice management systems.