Citigroup Issues Pessimistic Forecast for Phreesia (NYSE:PHR) Stock Price

Phreesia (NYSE:PHR) had its target price reduced by equities researchers at Citigroup from $29.00 to $25.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 45.02% from the company’s previous close.

PHR has been the topic of a number of other research reports. Truist Financial set a $24.00 price target on shares of Phreesia in a report on Thursday. Canaccord Genuity Group lowered their price objective on shares of Phreesia from $38.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, December 9th. DA Davidson boosted their target price on shares of Phreesia from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, December 2nd. Royal Bank Of Canada started coverage on Phreesia in a report on Friday. They issued an “outperform” rating and a $26.00 target price for the company. Finally, Mizuho lowered their price target on Phreesia from $36.00 to $28.00 and set an “outperform” rating on the stock in a report on Wednesday, December 10th. 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 company. According to MarketBeat.com, Phreesia has an average rating of “Moderate Buy” and an average price target of $30.06.

Phreesia Trading Up 2.0%

Shares of NYSE PHR opened at $17.24 on Friday. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.01. Phreesia has a 12 month low of $15.41 and a 12 month high of $32.76. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -172.37 and a beta of 0.61. The business has a fifty day simple moving average of $18.95 and a 200-day simple moving average of $23.72.

Phreesia (NYSE:PHR) last issued its quarterly earnings results on Monday, December 8th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.11. Phreesia had a negative return on equity of 1.31% and a negative net margin of 1.16%.The firm had revenue of $120.33 million for the quarter, compared to analysts’ expectations of $119.98 million. During the same quarter last year, the business posted ($0.25) EPS. Phreesia’s revenue was up 12.7% on a year-over-year basis. Sell-side analysts predict that Phreesia will post -1.1 EPS for the current year.

Insider Activity at Phreesia

In related news, insider Evan Roberts sold 1,888 shares of Phreesia stock in a transaction on Friday, October 17th. The stock was sold at an average price of $22.36, for a total transaction of $42,215.68. Following the completion of the sale, the insider owned 724,949 shares of the company’s stock, valued at approximately $16,209,859.64. This trade represents a 0.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Linetsky sold 2,059 shares of the company’s stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $22.36, for a total value of $46,039.24. Following the completion of the transaction, the insider directly owned 171,829 shares in the company, valued at approximately $3,842,096.44. The trade was a 1.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 7,534 shares of company stock valued at $165,514. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Phreesia

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PHR. Squarepoint Ops LLC raised its position in shares of Phreesia by 243.6% in the second quarter. Squarepoint Ops LLC now owns 100,922 shares of the company’s stock valued at $2,872,000 after purchasing an additional 71,553 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Phreesia by 9,375.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,032 shares of the company’s stock worth $86,000 after buying an additional 3,000 shares during the period. Arcadia Investment Management Corp MI grew its stake in Phreesia by 22.3% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 113,470 shares of the company’s stock valued at $3,229,000 after buying an additional 20,700 shares during the last quarter. Acadian Asset Management LLC grew its stake in Phreesia by 61.6% in the 2nd quarter. Acadian Asset Management LLC now owns 364,194 shares of the company’s stock valued at $10,357,000 after buying an additional 138,877 shares during the last quarter. Finally, Boston Partners raised its holdings in Phreesia by 165.1% in the 2nd quarter. Boston Partners now owns 130,060 shares of the company’s stock worth $3,702,000 after acquiring an additional 81,006 shares during the period. Institutional investors own 92.10% of the company’s stock.

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.