Phreesia (NYSE:PHR) Rating Increased to Outperform at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Phreesia (NYSE:PHR) from a sector perform rating to an outperform rating in a research report released on Wednesday morning, MarketBeat reports. They currently have $32.00 price objective on the stock, up from their prior price objective of $24.00.

Several other equities research analysts have also recently weighed in on PHR. Truist Financial boosted their target price on Phreesia from $31.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Robert W. Baird reduced their price objective on shares of Phreesia from $34.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. JMP Securities restated a “market outperform” rating and issued a $30.00 target price on shares of Phreesia in a report on Tuesday, December 10th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $29.00 price target on shares of Phreesia in a research note on Tuesday, December 10th. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Phreesia has a consensus rating of “Buy” and an average price target of $30.64.

Phreesia Trading Up 5.3 %

NYSE PHR opened at $28.42 on Wednesday. Phreesia has a 52 week low of $17.07 and a 52 week high of $29.16. The firm has a 50 day moving average of $22.50 and a two-hundred day moving average of $22.53. The company has a quick ratio of 1.77, a current ratio of 1.74 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $1.65 billion, a PE ratio of -19.33 and a beta of 0.94.

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

Insider Buying and Selling at Phreesia

In related news, SVP David Linetsky sold 2,011 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $21.03, for a total transaction of $42,291.33. Following the completion of the sale, the senior vice president now directly owns 201,307 shares of the company’s stock, valued at $4,233,486.21. This trade represents a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Evan Roberts sold 2,873 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $26.61, for a total transaction of $76,450.53. Following the completion of the transaction, the chief operating officer now directly owns 779,993 shares in the company, valued at $20,755,613.73. This represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,703 shares of company stock worth $2,343,541. 5.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PHR. Deerfield Management Company L.P. Series C acquired a new stake in Phreesia in the second quarter valued at $4,078,000. Champlain Investment Partners LLC increased its holdings in shares of Phreesia by 4.1% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,503,837 shares of the company’s stock valued at $57,062,000 after purchasing an additional 97,847 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Phreesia by 135.3% in the second quarter. Sei Investments Co. now owns 165,327 shares of the company’s stock valued at $3,505,000 after purchasing an additional 95,058 shares during the period. Squarepoint Ops LLC boosted its holdings in Phreesia by 56.3% during the second quarter. Squarepoint Ops LLC now owns 250,396 shares of the company’s stock worth $5,308,000 after buying an additional 90,215 shares in the last quarter. Finally, State Street Corp boosted its holdings in Phreesia by 7.1% during the third quarter. State Street Corp now owns 1,327,586 shares of the company’s stock worth $30,256,000 after buying an additional 88,517 shares in the last quarter. 92.10% of the stock is 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.