JPMorgan Chase & Co. Issues Pessimistic Forecast for Phreesia (NYSE:PHR) Stock Price

Phreesia (NYSE:PHR) had its price objective reduced by research analysts at JPMorgan Chase & Co. from $29.00 to $24.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 88.92% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. DA Davidson dropped their target price on shares of Phreesia from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, January 23rd. Royal Bank Of Canada initiated coverage on Phreesia in a report on Friday, January 9th. They issued a “moderate buy” rating and a $26.00 price target for the company. Wall Street Zen downgraded Phreesia from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 8th. Wells Fargo & Company initiated coverage on Phreesia in a report on Thursday, January 8th. They issued an “overweight” rating and a $30.00 target price for the company. Finally, Citigroup dropped their price target on Phreesia from $29.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, January 9th. Seventeen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Phreesia presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.12.

Phreesia Stock Up 1.0%

Shares of NYSE:PHR opened at $12.70 on Friday. The firm has a market capitalization of $765.92 million, a PE ratio of -127.03 and a beta of 0.65. The business has a 50 day simple moving average of $15.14 and a two-hundred day simple moving average of $20.88. Phreesia has a 1 year low of $11.57 and a 1 year high of $32.76. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.44 and a quick ratio of 2.44.

Phreesia (NYSE:PHR) last posted its quarterly earnings data on Monday, December 8th. The company reported $0.10 earnings per share (EPS) for the quarter, beating 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 company had revenue of $120.33 million during the quarter, compared to analysts’ expectations of $119.98 million. During the same quarter in the previous year, the business earned ($0.25) EPS. Phreesia’s revenue was up 12.7% compared to the same quarter last year. On average, equities analysts predict that Phreesia will post -1.1 EPS for the current year.

Insider Buying and Selling at Phreesia

In related news, insider Evan Roberts sold 6,268 shares of the company’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $16.36, for a total transaction of $102,544.48. Following the completion of the sale, the insider directly owned 826,554 shares in the company, valued at $13,522,423.44. This represents a 0.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Allison C. Hoffman sold 3,995 shares of Phreesia stock in a transaction on Friday, January 16th. The stock was sold at an average price of $16.36, for a total transaction of $65,358.20. Following the completion of the transaction, the general counsel directly owned 169,661 shares in the company, valued at $2,775,653.96. This represents a 2.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 60,766 shares of company stock worth $1,013,817. 5.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Phreesia

Several hedge funds and other institutional investors have recently bought and sold shares of 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 valued at $400,000 after acquiring an additional 375 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Phreesia by 2.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 19,983 shares of the company’s stock valued at $569,000 after buying an additional 540 shares during the last quarter. Diversified Trust Co boosted its stake in shares of Phreesia by 1.7% in the third quarter. Diversified Trust Co now owns 45,822 shares of the company’s stock worth $1,078,000 after buying an additional 780 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Phreesia by 9.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 8,803 shares of the company’s stock worth $251,000 after acquiring an additional 792 shares during the period. Finally, Alliancebernstein L.P. raised its position in Phreesia by 1.3% during 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 in the last quarter. 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.