Phreesia (NYSE:PHR) Given New $29.00 Price Target at Citigroup

Phreesia (NYSE:PHR) had its price objective lowered by Citigroup from $34.00 to $29.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also weighed in on the stock. Raymond James Financial set a $33.00 price objective on shares of Phreesia and gave the stock an “outperform” rating in a report on Friday, September 5th. Stephens restated an “overweight” rating and set a $32.00 price target on shares of Phreesia in a research report on Wednesday, September 3rd. Piper Sandler lifted their price objective on Phreesia from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. Barclays began coverage on Phreesia in a research note on Monday. They issued an “overweight” rating and a $26.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $35.00 price target on shares of Phreesia in a report on Monday. Sixteen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Phreesia currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.38.

Phreesia Price Performance

Shares of PHR stock opened at $15.46 on Tuesday. The stock’s fifty day simple moving average is $21.87 and its 200 day simple moving average is $25.19. Phreesia has a one year low of $15.41 and a one year high of $32.76. The firm has a market cap of $925.91 million, a price-to-earnings ratio of -154.53 and a beta of 0.64. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.12 and a quick ratio of 2.12.

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, topping the consensus estimate of ($0.01) by $0.11. Phreesia had a negative return on equity of 1.36% and a negative net margin of 1.16%.The firm had revenue of $120.33 million during the quarter, compared to analyst estimates of $119.98 million. During the same period in the prior year, the company posted ($0.25) earnings per share. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, analysts expect that Phreesia will post -1.1 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Balaji Gandhi sold 4,183 shares of Phreesia stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $23.28, for a total transaction of $97,380.24. Following the completion of the sale, the chief financial officer directly owned 99,125 shares of the company’s stock, valued at $2,307,630. The trade was a 4.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Allison C. Hoffman sold 1,241 shares of the company’s stock in a transaction dated Friday, October 17th. The shares were sold at an average price of $22.36, for a total value of $27,748.76. Following the completion of the sale, the general counsel owned 135,737 shares of the company’s stock, valued at $3,035,079.32. This represents a 0.91% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 26,174 shares of company stock worth $603,835. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of Phreesia

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Tudor Investment Corp ET AL bought a new position in Phreesia during the 3rd quarter worth approximately $4,173,000. Connors Investor Services Inc. raised its holdings in Phreesia by 35.6% in the third quarter. Connors Investor Services Inc. now owns 110,023 shares of the company’s stock worth $2,588,000 after purchasing an additional 28,861 shares during the period. Dark Forest Capital Management LP boosted its position in shares of Phreesia by 217.5% during the third quarter. Dark Forest Capital Management LP now owns 23,410 shares of the company’s stock worth $551,000 after purchasing an additional 16,037 shares in the last quarter. PharVision Advisers LLC bought a new position in shares of Phreesia during the third quarter worth $345,000. Finally, Virtus Advisers LLC grew its holdings in shares of Phreesia by 522.8% in the 3rd quarter. Virtus Advisers LLC now owns 14,181 shares of the company’s stock valued at $334,000 after buying an additional 11,904 shares during the period. 92.10% of the stock is owned by 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.