Phreesia (NYSE:PHR) Now Covered by Analysts at Royal Bank Of Canada

Royal Bank Of Canada initiated coverage on shares of Phreesia (NYSE:PHR) in a research note issued to investors on Friday morning. The firm issued an outperform rating and a $26.00 price objective on the stock.

Several other research firms have also commented on PHR. Needham & Company LLC restated a “buy” rating and issued a $35.00 price objective on shares of Phreesia in a research note on Monday, December 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Phreesia in a research report on Friday, October 31st. DA Davidson boosted their price objective on Phreesia from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, December 2nd. BMO Capital Markets assumed coverage on shares of Phreesia in a research note on Thursday, November 13th. They set an “outperform” rating and a $32.00 target price on the stock. Finally, Truist Financial set a $24.00 price target on shares of Phreesia in a research report on Thursday. Seventeen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Phreesia presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.06.

Phreesia Stock Performance

PHR stock opened at $17.24 on Friday. The company has a market cap of $1.04 billion, a P/E ratio of -172.37 and a beta of 0.61. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.44 and a quick ratio of 2.44. The stock’s fifty day moving average price is $18.95 and its 200-day moving average price is $23.75. Phreesia has a 1 year low of $15.41 and a 1 year high of $32.76.

Phreesia (NYSE:PHR) last released its quarterly earnings results on Monday, December 8th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.11. Phreesia had a negative net margin of 1.16% and a negative return on equity of 1.31%. The firm had revenue of $120.33 million during the quarter, compared to analyst estimates of $119.98 million. During the same quarter in the prior year, the firm earned ($0.25) EPS. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, equities analysts forecast that Phreesia will post -1.1 earnings per share for the current year.

Insider Activity

In other news, insider David Linetsky sold 2,059 shares of the business’s stock in a transaction on Friday, October 17th. The shares were sold at an average price of $22.36, for a total value of $46,039.24. Following the transaction, the insider owned 171,829 shares of the company’s stock, valued at approximately $3,842,096.44. The trade was a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Evan Roberts sold 1,888 shares of the firm’s stock in a transaction on Friday, October 17th. The shares were sold at an average price of $22.36, for a total transaction of $42,215.68. Following the transaction, the insider directly owned 724,949 shares of the company’s stock, valued at $16,209,859.64. The trade was a 0.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 7,534 shares of company stock worth $165,514 over the last quarter. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Phreesia

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PHR. Federated Hermes Inc. purchased a new position in Phreesia during the 3rd quarter valued at approximately $32,000. Asset Management One Co. Ltd. bought a new position in shares of Phreesia during the 3rd quarter valued at approximately $45,000. State of Alaska Department of Revenue bought a new position in shares of Phreesia during the 3rd quarter valued at approximately $83,000. Farther Finance Advisors LLC grew its holdings in shares of Phreesia by 9,375.0% in the second quarter. Farther Finance Advisors LLC now owns 3,032 shares of the company’s stock valued at $86,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Anchor Investment Management LLC bought a new stake in Phreesia in the third quarter worth $118,000. 92.10% of the stock is owned by institutional investors.

About Phreesia

Phreesia, Inc (NYSE: PHR) is a provider of patient intake management solutions designed to streamline front-office workflows for healthcare organizations. The company’s cloud-based platform digitizes patient registration, appointment scheduling, insurance verification, consent documentation and payment collection through touchscreen kiosks, tablets and mobile devices. By replacing paper forms and manual processes, Phreesia enhances data accuracy, reduces administrative burden and improves the patient experience.

Founded in 2000 by Chaim Indig and headquartered in Burlington, Massachusetts, Phreesia offers a modular software suite that integrates with electronic medical record (EMR) and practice management systems.