JPMorgan Chase & Co. Has Lowered Expectations for Phreesia (NYSE:PHR) Stock Price

Phreesia (NYSE:PHR) had its price target decreased by equities researchers at JPMorgan Chase & Co. from $29.00 to $24.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 92.76% from the company’s previous close.

A number of other equities research analysts have also issued reports on the stock. Robert W. Baird reduced their target price on shares of Phreesia from $31.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, December 10th. BMO Capital Markets initiated coverage on Phreesia in a report on Thursday, November 13th. They set an “outperform” rating and a $32.00 price target for the company. Wells Fargo & Company started coverage on Phreesia in a report on Thursday, January 8th. They issued an “overweight” rating and a $30.00 price objective on the stock. Royal Bank Of Canada initiated coverage on Phreesia in a research note on Friday, January 9th. They set a “moderate buy” rating and a $26.00 target price for the company. Finally, DA Davidson dropped their price target on shares of Phreesia from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, January 23rd. Seventeen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.12.

Phreesia Trading Down 1.0%

Phreesia stock traded down $0.13 during midday trading on Friday, hitting $12.45. 992,390 shares of the stock were exchanged, compared to its average volume of 1,614,933. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.01. The stock’s 50-day simple moving average is $15.21 and its 200 day simple moving average is $21.03. Phreesia has a fifty-two week low of $11.57 and a fifty-two week high of $32.76. The stock has a market capitalization of $750.67 million, a price-to-earnings ratio of -124.50 and a beta of 0.65.

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

Insiders Place Their Bets

In other news, CFO Balaji Gandhi sold 4,687 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $16.36, for a total value of $76,679.32. Following the completion of the sale, the chief financial officer directly owned 150,569 shares of the company’s stock, valued at $2,463,308.84. This trade represents a 3.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Allison C. Hoffman sold 3,995 shares of Phreesia stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $16.36, for a total value of $65,358.20. Following the completion of the sale, the general counsel owned 169,661 shares in the company, valued at approximately $2,775,653.96. This trade represents a 2.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 60,766 shares of company stock valued at $1,013,817. Corporate insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Phreesia by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 5,744,326 shares of the company’s stock worth $97,194,000 after purchasing an additional 39,540 shares during the last quarter. Greenhouse Funds LLLP increased its stake in shares of Phreesia by 16.8% during the 3rd quarter. Greenhouse Funds LLLP now owns 3,882,527 shares of the company’s stock valued at $91,317,000 after acquiring an additional 557,265 shares during the last quarter. Granahan Investment Management LLC raised its stake in Phreesia by 73.8% during the fourth quarter. Granahan Investment Management LLC now owns 2,399,613 shares of the company’s stock worth $40,601,000 after purchasing an additional 1,018,987 shares during the period. Franklin Resources Inc. boosted its holdings in Phreesia by 28.8% in the fourth quarter. Franklin Resources Inc. now owns 2,000,082 shares of the company’s stock valued at $33,841,000 after acquiring an additional 446,890 shares during the last quarter. Finally, Nuveen LLC grew its holdings in shares of Phreesia by 12.7% during the 4th quarter. Nuveen LLC now owns 1,875,725 shares of the company’s stock worth $31,737,000 after purchasing an additional 211,262 shares during the period. 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.