Phreesia (NYSE:PHR) Given New $12.00 Price Target at KeyCorp

Phreesia (NYSE:PHR) had its target price reduced by KeyCorp from $15.00 to $12.00 in a research note released on Monday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. Wall Street Zen cut shares of Phreesia from a “buy” rating to a “hold” rating in a research report on Saturday, April 4th. BMO Capital Markets lowered their price objective on shares of Phreesia from $32.00 to $14.00 and set an “outperform” rating for the company in a research report on Tuesday, March 31st. Mizuho lowered their price objective on shares of Phreesia from $22.00 to $19.00 and set an “outperform” rating for the company in a research report on Tuesday, March 24th. Weiss Ratings restated a “sell (e+)” rating on shares of Phreesia in a research report on Wednesday, January 28th. Finally, Citizens Jmp restated a “market perform” rating on shares of Phreesia in a research report on Wednesday, April 1st. Twelve analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.82.

Phreesia Trading Up 6.1%

Shares of PHR stock opened at $8.55 on Monday. Phreesia has a 12-month low of $7.77 and a 12-month high of $32.76. The company has a market capitalization of $519.74 million, a P/E ratio of 285.13 and a beta of 0.86. The firm has a 50-day moving average price of $11.23 and a 200 day moving average price of $16.60. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.41.

Phreesia (NYSE:PHR) last announced its quarterly earnings results on Monday, March 30th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.05). Phreesia had a net margin of 0.48% and a return on equity of 3.23%. The firm had revenue of $127.07 million for the quarter, compared to the consensus estimate of $126.75 million. During the same period in the prior year, the business earned ($0.11) earnings per share. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. Research analysts forecast that Phreesia will post -1.1 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Evan Roberts sold 6,268 shares of the business’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $16.36, for a total transaction of $102,544.48. Following the completion of the transaction, the insider owned 826,554 shares in the company, valued at approximately $13,522,423.44. The trade was a 0.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David Linetsky sold 8,332 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $8.07, for a total transaction of $67,239.24. Following the transaction, the insider owned 224,056 shares of the company’s stock, valued at approximately $1,808,131.92. This represents a 3.59% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 63,182 shares of company stock valued at $797,368. 5.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Phreesia by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 5,744,326 shares of the company’s stock valued at $97,194,000 after purchasing an additional 39,540 shares during the period. Greenhouse Funds LLLP grew its holdings in Phreesia by 16.8% during the third quarter. Greenhouse Funds LLLP now owns 3,882,527 shares of the company’s stock valued at $91,317,000 after purchasing an additional 557,265 shares during the period. Granahan Investment Management LLC grew its holdings in Phreesia by 73.8% during the fourth quarter. Granahan Investment Management LLC now owns 2,399,613 shares of the company’s stock valued at $40,601,000 after purchasing an additional 1,018,987 shares during the period. Franklin Resources Inc. grew its holdings in Phreesia by 28.8% during the fourth quarter. Franklin Resources Inc. now owns 2,000,082 shares of the company’s stock valued at $33,841,000 after purchasing an additional 446,890 shares during the period. Finally, Nuveen LLC grew its holdings in Phreesia by 12.7% during the fourth quarter. Nuveen LLC now owns 1,875,725 shares of the company’s stock valued at $31,737,000 after purchasing an additional 211,262 shares during the period. Institutional investors and hedge funds 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.