Royal Bank of Canada Boosts Phreesia (NYSE:PHR) Price Target to $23.00

Phreesia (NYSE:PHR) had its price objective lifted by Royal Bank of Canada from $17.00 to $23.00 in a report released on Friday morning, Benzinga reports. They currently have a sector perform rating on the stock.

Several other equities analysts have also recently commented on PHR. Truist Financial assumed coverage on shares of Phreesia in a research note on Monday, February 26th. They set a buy rating and a $35.00 price objective for the company. Barclays assumed coverage on shares of Phreesia in a research note on Wednesday, January 3rd. They set an overweight rating and a $29.00 price objective for the company. DA Davidson raised shares of Phreesia from a neutral rating to a buy rating and boosted their price objective for the company from $30.00 to $32.00 in a research note on Wednesday, January 17th. Robert W. Baird boosted their price objective on shares of Phreesia from $30.00 to $31.00 and gave the company an outperform rating in a research note on Monday. Finally, JMP Securities cut their price target on shares of Phreesia from $39.00 to $28.00 and set a market outperform rating for the company in a research note on Wednesday, December 6th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Phreesia has an average rating of Moderate Buy and an average price target of $32.71.

Phreesia Stock Performance

PHR stock traded down $0.82 during mid-day trading on Friday, hitting $22.93. The company had a trading volume of 693,167 shares, compared to its average volume of 545,245. The stock’s fifty day moving average price is $25.31 and its two-hundred day moving average price is $20.99. Phreesia has a 12 month low of $12.05 and a 12 month high of $36.13. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.02 and a current ratio of 2.02. The firm has a market cap of $1.28 billion, a PE ratio of -9.10 and a beta of 0.93.

Phreesia (NYSE:PHR) last posted its quarterly earnings results on Thursday, March 14th. The company reported ($0.56) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.02. Phreesia had a negative net margin of 38.42% and a negative return on equity of 52.97%. The company had revenue of $95.00 million for the quarter, compared to analyst estimates of $93.52 million. During the same quarter in the previous year, the firm posted ($0.72) earnings per share. The company’s quarterly revenue was up 24.0% compared to the same quarter last year. On average, analysts forecast that Phreesia will post -1.47 earnings per share for the current fiscal year.

Insider Transactions at Phreesia

In related news, General Counsel Allison C. Hoffman sold 1,316 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $24.55, for a total transaction of $32,307.80. Following the completion of the sale, the general counsel now directly owns 144,464 shares in the company, valued at approximately $3,546,591.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, General Counsel Allison C. Hoffman sold 1,316 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $24.55, for a total transaction of $32,307.80. Following the completion of the sale, the general counsel now directly owns 144,464 shares in the company, valued at approximately $3,546,591.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Chaim Indig sold 3,586 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $24.55, for a total transaction of $88,036.30. Following the completion of the transaction, the chief executive officer now owns 1,280,410 shares of the company’s stock, valued at $31,434,065.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,950 shares of company stock worth $246,213. 5.80% of the stock is currently owned by insiders.

Institutional Trading of Phreesia

A number of hedge funds and other institutional investors have recently modified their holdings of the business. State of Wyoming grew its position in shares of Phreesia by 34.6% in the 2nd quarter. State of Wyoming now owns 1,918 shares of the company’s stock worth $59,000 after buying an additional 493 shares during the period. American International Group Inc. grew its position in Phreesia by 2.3% during the 4th quarter. American International Group Inc. now owns 26,342 shares of the company’s stock valued at $610,000 after purchasing an additional 591 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Phreesia by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,545 shares of the company’s stock valued at $637,000 after purchasing an additional 710 shares during the last quarter. Capital Impact Advisors LLC grew its position in Phreesia by 5.2% during the 2nd quarter. Capital Impact Advisors LLC now owns 15,771 shares of the company’s stock valued at $489,000 after purchasing an additional 781 shares during the last quarter. Finally, Captrust Financial Advisors grew its position in Phreesia by 154.6% during the 2nd quarter. Captrust Financial Advisors now owns 1,426 shares of the company’s stock valued at $36,000 after purchasing an additional 866 shares during the last quarter. 94.37% of the stock is owned by hedge funds and other institutional investors.

Phreesia Company Profile

Phreesia, Inc provides an integrated SaaS-based software and payment platform for the healthcare industry in the United States and Canada. Its Phreesia Platform offers access solutions that offers appointment scheduling system for online appointments, reminders, and referral tracking; registration solution to automate patient self-registration; revenue cycle solution, which offer insurance-verification processes, point-of-sale payments applications, post-visit payment collection, and flexible payment options; and network connect solution to deliver clinically relevant content to patients.