Phreesia (NYSE:PHR) Reaches New 1-Year Low After Analyst Downgrade

Phreesia, Inc. (NYSE:PHR) shares reached a new 52-week low during trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $29.00 to $24.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Phreesia traded as low as $11.55 and last traded at $11.6970, with a volume of 610907 shares changing hands. The stock had previously closed at $12.71.

Other equities research analysts have also issued reports about the stock. DA Davidson reduced their price objective on shares of Phreesia from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, January 23rd. Wells Fargo & Company began coverage on Phreesia in a report on Thursday, January 8th. They issued an “overweight” rating and a $30.00 target price on the stock. Wall Street Zen cut Phreesia from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 8th. Robert W. Baird lowered their price objective on Phreesia from $31.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, December 10th. Finally, Canaccord Genuity Group cut their target price on Phreesia from $38.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, December 9th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.12.

Insider Activity

In other news, SVP Amy Beth Vanduyn sold 2,602 shares of the company’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $17.01, for a total value of $44,260.02. Following the completion of the sale, the senior vice president directly owned 160,238 shares of the company’s stock, valued at approximately $2,725,648.38. This represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Evan Roberts sold 6,317 shares of the stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $17.01, for a total transaction of $107,452.17. Following the sale, the insider owned 834,632 shares of the company’s stock, valued at $14,197,090.32. This trade represents a 0.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 60,766 shares of company stock worth $1,013,817 over the last ninety days. 5.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Phreesia

A number of hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. purchased a new position in shares of Phreesia during the 3rd quarter worth approximately $32,000. Van ECK Associates Corp raised its position in Phreesia by 78.7% in the fourth quarter. Van ECK Associates Corp now owns 2,502 shares of the company’s stock worth $42,000 after acquiring an additional 1,102 shares in the last quarter. Asset Management One Co. Ltd. acquired a new stake in Phreesia in the third quarter valued at $45,000. KBC Group NV boosted its position in shares of Phreesia by 83.4% during the 4th quarter. KBC Group NV now owns 3,449 shares of the company’s stock worth $58,000 after purchasing an additional 1,568 shares in the last quarter. Finally, Garner Asset Management Corp purchased a new stake in shares of Phreesia during the 4th quarter worth $81,000. Institutional investors and hedge funds own 92.10% of the company’s stock.

Phreesia Stock Performance

The stock’s 50 day moving average price is $15.04 and its two-hundred day moving average price is $20.73. 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 firm has a market capitalization of $703.58 million, a price-to-earnings ratio of -116.69 and a beta of 0.65.

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

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.