Phreesia (NYSE:PHR) Price Target Cut to $29.00 by Analysts at JPMorgan Chase & Co.

Phreesia (NYSE:PHR) had its price objective reduced by JPMorgan Chase & Co. from $32.00 to $29.00 in a report released on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also recently issued reports on the company. Canaccord Genuity Group lowered their price objective on Phreesia from $38.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday. Piper Sandler lifted their target price on Phreesia from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, September 5th. BMO Capital Markets started coverage on Phreesia in a report on Thursday, November 13th. They set an “outperform” rating and a $32.00 price target on the stock. Truist Financial increased their price objective on Phreesia from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Finally, Mizuho assumed coverage on Phreesia in a report on Wednesday, August 27th. They issued an “outperform” rating and a $36.00 price objective for the company. Sixteen analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.38.

Phreesia Price Performance

Shares of NYSE:PHR opened at $15.46 on Tuesday. The business has a fifty day moving average price of $21.87 and a 200-day moving average price of $25.19. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.12 and a quick ratio of 2.12. The company has a market capitalization of $925.91 million, a PE ratio of -154.53 and a beta of 0.64. Phreesia has a 1-year low of $15.41 and a 1-year high of $32.76.

Phreesia (NYSE:PHR) last announced its quarterly earnings results on Monday, December 8th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.11. The company had revenue of $120.33 million for the quarter, compared to analysts’ expectations of $119.98 million. Phreesia had a negative net margin of 1.16% and a negative return on equity of 1.36%. Phreesia’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.25) EPS. As a group, equities analysts expect that Phreesia will post -1.1 EPS for the current fiscal year.

Insider Buying and Selling at Phreesia

In related news, insider Evan Roberts sold 3,761 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $23.28, for a total value of $87,556.08. Following the completion of the transaction, the insider owned 726,837 shares of the company’s stock, valued at approximately $16,920,765.36. This trade represents a 0.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Balaji Gandhi sold 4,183 shares of Phreesia stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $23.28, for a total value of $97,380.24. Following the completion of the transaction, the chief financial officer owned 99,125 shares of the company’s stock, valued at approximately $2,307,630. This represents a 4.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,174 shares of company stock valued at $603,835 over the last ninety days. Corporate insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Phreesia

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PHR. Raymond James Financial Inc. boosted its holdings in shares of Phreesia by 2.7% in the 2nd quarter. Raymond James Financial Inc. now owns 14,049 shares of the company’s stock worth $400,000 after purchasing an additional 375 shares during the period. Diversified Trust Co lifted its position in Phreesia by 1.0% in the second quarter. Diversified Trust Co now owns 45,042 shares of the company’s stock worth $1,282,000 after buying an additional 426 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Phreesia by 2.8% during the second quarter. PNC Financial Services Group Inc. now owns 19,983 shares of the company’s stock worth $569,000 after buying an additional 540 shares during the period. Oppenheimer Asset Management Inc. increased its position in Phreesia by 9.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 8,803 shares of the company’s stock valued at $251,000 after acquiring an additional 792 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Phreesia by 1.3% in the third quarter. Alliancebernstein L.P. now owns 62,712 shares of the company’s stock valued at $1,475,000 after acquiring an additional 812 shares during the period. 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.