Phreesia (NYSE:PHR) Upgraded by Wells Fargo & Company to “Strong-Buy” Rating

Wells Fargo & Company upgraded shares of Phreesia (NYSE:PHR) to a strong-buy rating in a research note issued to investors on Thursday, MarketBeat reports.

Several other brokerages also recently issued reports on PHR. KeyCorp cut 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. DA Davidson increased their price objective on shares of Phreesia from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. Barclays cut their target price on shares of Phreesia from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Tuesday, December 16th. Robert W. Baird decreased their price target on shares of Phreesia from $31.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 10th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Phreesia in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.06.

Phreesia Trading Up 2.0%

Shares of NYSE:PHR opened at $17.24 on Thursday. Phreesia has a 52-week low of $15.41 and a 52-week high of $32.76. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.44 and a current ratio of 2.44. The company has a market capitalization of $1.04 billion, a P/E ratio of -172.37 and a beta of 0.61. The company has a 50-day simple moving average of $18.95 and a 200 day simple moving average of $23.75.

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, beating analysts’ consensus estimates 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 company had revenue of $120.33 million during the quarter, compared to analysts’ expectations of $119.98 million. During the same period last year, the firm posted ($0.25) earnings per share. The business’s revenue was up 12.7% on a year-over-year basis. Sell-side analysts forecast that Phreesia will post -1.1 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider David Linetsky sold 2,059 shares of the firm’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 transaction of $46,039.24. Following the transaction, the insider directly owned 171,829 shares of the company’s stock, valued at approximately $3,842,096.44. This trade represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Evan Roberts sold 1,888 shares of Phreesia stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $22.36, for a total transaction of $42,215.68. Following the completion of the sale, the insider owned 724,949 shares of the company’s stock, valued at approximately $16,209,859.64. The trade was a 0.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 7,534 shares of company stock worth $165,514 in the last quarter. 5.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Phreesia

A number of large investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. acquired a new position in Phreesia in the 3rd quarter valued at $32,000. Asset Management One Co. Ltd. bought a new position in shares of Phreesia in the third quarter worth $45,000. State of Alaska Department of Revenue acquired a new position in Phreesia in the third quarter valued at about $83,000. Farther Finance Advisors LLC lifted its position in Phreesia by 9,375.0% during the second quarter. Farther Finance Advisors LLC now owns 3,032 shares of the company’s stock worth $86,000 after purchasing an additional 3,000 shares during the period. Finally, Anchor Investment Management LLC bought a new stake in Phreesia during the third quarter worth about $118,000. Institutional investors and hedge funds own 92.10% of the company’s stock.

About Phreesia

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.