Phreesia (NYSE:PHR) Shares Gap Up – Time to Buy?

Phreesia, Inc. (NYSE:PHR) gapped up before the market opened on Wednesday . The stock had previously closed at $26.98, but opened at $27.67. Phreesia shares last traded at $27.30, with a volume of 42,629 shares changing hands.

Wall Street Analyst Weigh In

PHR has been the topic of several research reports. Robert W. Baird reduced their price target on shares of Phreesia from $34.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th. Needham & Company LLC restated a “buy” rating and set a $29.00 target price on shares of Phreesia in a research report on Tuesday, December 10th. Royal Bank of Canada raised shares of Phreesia from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $24.00 to $32.00 in a report on Wednesday. Truist Financial boosted their price objective on Phreesia from $31.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $30.00 price objective on shares of Phreesia in a research note on Tuesday, December 10th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $30.18.

Phreesia Stock Performance

The firm has a market cap of $1.60 billion, a PE ratio of -18.77 and a beta of 0.94. The business has a 50 day simple moving average of $22.30 and a two-hundred day simple moving average of $22.49. The company has a quick ratio of 1.77, a current ratio of 1.74 and a debt-to-equity ratio of 0.04.

Phreesia (NYSE:PHR) last posted its quarterly earnings results on Monday, December 9th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.04. The company had revenue of $106.80 million for the quarter, compared to the consensus estimate of $106.33 million. Phreesia had a negative net margin of 20.43% and a negative return on equity of 32.78%. The firm’s revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.58) EPS. As a group, equities research analysts forecast that Phreesia, Inc. will post -1.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Phreesia news, CEO Chaim Indig sold 3,089 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $21.03, for a total transaction of $64,961.67. Following the transaction, the chief executive officer now directly owns 1,220,647 shares in the company, valued at $25,670,206.41. This represents a 0.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP David Linetsky sold 2,011 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $21.03, for a total transaction of $42,291.33. Following the transaction, the senior vice president now directly owns 201,307 shares in the company, valued at $4,233,486.21. This trade represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 90,342 shares of company stock valued at $2,041,225 over the last quarter. 5.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Phreesia

A number of hedge funds have recently made changes to their positions in the stock. Versor Investments LP bought a new position in Phreesia in the third quarter worth about $694,000. Zacks Investment Management purchased a new position in shares of Phreesia in the 3rd quarter worth approximately $631,000. Sei Investments Co. grew its position in shares of Phreesia by 135.3% in the 2nd quarter. Sei Investments Co. now owns 165,327 shares of the company’s stock worth $3,505,000 after buying an additional 95,058 shares during the last quarter. State Street Corp raised its stake in shares of Phreesia by 7.1% during the 3rd quarter. State Street Corp now owns 1,327,586 shares of the company’s stock worth $30,256,000 after acquiring an additional 88,517 shares in the last quarter. Finally, Barclays PLC lifted its position in Phreesia by 83.6% during the third quarter. Barclays PLC now owns 94,929 shares of the company’s stock valued at $2,163,000 after acquiring an additional 43,225 shares during the last quarter. 92.10% of the stock is currently owned by hedge funds and other institutional investors.

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.