Phreesia (NYSE:PHR) Rating Reiterated by Needham & Company LLC

Phreesia (NYSE:PHR)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research note issued on Thursday, Benzinga reports. They presently have a $40.00 target price on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 82.23% from the company’s previous close.

Other analysts have also recently issued reports about the company. Royal Bank of Canada reduced their target price on Phreesia from $33.00 to $29.00 and set a “sector perform” rating on the stock in a report on Thursday. KeyCorp cut their target price on Phreesia from $45.00 to $40.00 in a report on Thursday, May 25th. Citigroup decreased their target price on Phreesia from $40.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday. Stephens reiterated an “overweight” rating and set a $37.00 price target on shares of Phreesia in a research note on Thursday. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $46.00 target price on shares of Phreesia in a research note on Friday, September 1st. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $38.00.

Phreesia Stock Performance

Phreesia stock opened at $21.95 on Thursday. The business has a 50 day moving average of $29.35 and a 200-day moving average of $31.24. Phreesia has a 1 year low of $21.08 and a 1 year high of $40.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.89 and a quick ratio of 2.89. The company has a market capitalization of $1.18 billion, a P/E ratio of -7.67 and a beta of 0.63.

Phreesia (NYSE:PHR) last released its quarterly earnings data on Wednesday, September 6th. The company reported ($0.68) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.71) by $0.03. Phreesia had a negative return on equity of 52.47% and a negative net margin of 47.75%. The company had revenue of $85.80 million during the quarter, compared to the consensus estimate of $85.26 million. During the same quarter in the prior year, the firm posted ($0.89) earnings per share. The firm’s revenue was up 26.4% compared to the same quarter last year. On average, equities research analysts predict that Phreesia will post -2.69 earnings per share for the current year.

Insider Transactions at Phreesia

In other news, SVP Michael J. Davidoff sold 1,075 shares of Phreesia stock in a transaction on Friday, July 21st. The stock was sold at an average price of $31.75, for a total value of $34,131.25. Following the transaction, the senior vice president now directly owns 93,576 shares in the company, valued at approximately $2,971,038. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PHR. Captrust Financial Advisors boosted its position in shares of Phreesia by 154.6% in the 2nd quarter. Captrust Financial Advisors now owns 1,426 shares of the company’s stock worth $36,000 after purchasing an additional 866 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Phreesia during the 1st quarter worth about $43,000. State of Wyoming raised its stake in shares of Phreesia by 34.6% during the 2nd quarter. State of Wyoming now owns 1,918 shares of the company’s stock valued at $59,000 after buying an additional 493 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Phreesia by 85.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,137 shares of the company’s stock valued at $80,000 after buying an additional 1,445 shares during the last quarter. Finally, Bessemer Group Inc. purchased a new position in shares of Phreesia during the 1st quarter valued at about $127,000. 94.37% of the stock is currently owned by hedge funds and other institutional investors.

Phreesia Company Profile

Phreesia, Inc provides an integrated SaaS-based software and payment platform for the healthcare industry in the United States and Canada. Its Phreesia Platform offers access solutions that offers appointment scheduling system for online appointments, reminders, and referral tracking; 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.