Wall Street Zen Upgrades Phreesia (NYSE:PHR) to “Strong-Buy”

Phreesia (NYSE:PHR) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

Several other analysts have also commented on PHR. Barclays dropped their price target on shares of Phreesia from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 16th. Truist Financial set a $24.00 target price on Phreesia in a research report on Thursday, January 8th. Citigroup decreased their price target on shares of Phreesia from $29.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, January 9th. Royal Bank Of Canada started coverage on Phreesia in a research report on Friday, January 9th. They set a “moderate buy” rating and a $26.00 price objective on the stock. Finally, Zacks Research downgraded shares of Phreesia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. 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 an average rating of “Moderate Buy” and a consensus price target of $29.76.

Phreesia Stock Performance

Shares of NYSE PHR opened at $13.41 on Friday. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.01. The company has a 50 day simple moving average of $17.18 and a two-hundred day simple moving average of $22.43. Phreesia has a 12 month low of $13.40 and a 12 month high of $32.76. The stock has a market cap of $808.49 million, a price-to-earnings ratio of -134.09 and a beta of 0.61.

Phreesia (NYSE:PHR) last posted 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. The company had revenue of $120.33 million for the quarter, compared to analyst estimates of $119.98 million. Phreesia had a negative net margin of 1.16% and a negative return on equity of 1.31%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.25) earnings per share. As a group, analysts predict that Phreesia will post -1.1 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Amy Beth Vanduyn sold 2,602 shares of the business’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $17.01, for a total transaction of $44,260.02. Following the completion of the transaction, the senior vice president owned 160,238 shares in the company, valued at approximately $2,725,648.38. The trade was a 1.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David Linetsky sold 6,106 shares of the stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $17.01, for a total value of $103,863.06. Following the completion of the transaction, the insider directly owned 231,723 shares in the company, valued at $3,941,608.23. This trade represents a 2.57% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 60,766 shares of company stock worth $1,013,817. Corporate insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada raised its position in shares of Phreesia by 208.8% during the 1st quarter. Royal Bank of Canada now owns 24,119 shares of the company’s stock worth $617,000 after acquiring an additional 16,309 shares in the last quarter. AQR Capital Management LLC increased its stake in Phreesia by 471.2% in the first quarter. AQR Capital Management LLC now owns 160,032 shares of the company’s stock valued at $4,090,000 after purchasing an additional 132,015 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Phreesia by 3.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,557 shares of the company’s stock worth $1,599,000 after purchasing an additional 2,158 shares in the last quarter. NewEdge Advisors LLC raised its holdings in Phreesia by 262.7% during the first quarter. NewEdge Advisors LLC now owns 15,437 shares of the company’s stock worth $395,000 after purchasing an additional 11,181 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Phreesia by 0.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 600,012 shares of the company’s stock worth $15,336,000 after buying an additional 2,402 shares during the last quarter. 92.10% of the stock is owned by institutional investors and hedge funds.

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.