DA Davidson Upgrades Phreesia (NYSE:PHR) to Strong-Buy

Phreesia (NYSE:PHR) was upgraded by DA Davidson to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

PHR has been the subject of several other research reports. Wall Street Zen upgraded Phreesia from a “hold” rating to a “buy” rating in a research note on Sunday, June 1st. Citigroup reiterated a “buy” rating on shares of Phreesia in a report on Wednesday, May 28th. KeyCorp upped their price target on Phreesia from $28.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, July 14th. Truist Financial boosted their target price on shares of Phreesia from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Finally, Canaccord Genuity Group cut their target price on shares of Phreesia from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, May 29th. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $32.27.

Phreesia Price Performance

NYSE PHR opened at $27.68 on Tuesday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.02. Phreesia has a 1 year low of $17.07 and a 1 year high of $30.53. The company has a market cap of $1.65 billion, a PE ratio of -37.40 and a beta of 0.72. The stock’s 50-day moving average price is $26.55 and its two-hundred day moving average price is $26.42.

Phreesia (NYSE:PHR) last issued its earnings results on Wednesday, May 28th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.06. The business had revenue of $115.94 million during the quarter, compared to analysts’ expectations of $115.00 million. Phreesia had a negative return on equity of 16.23% and a negative net margin of 9.83%. Phreesia’s revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.05) earnings per share. On average, analysts predict that Phreesia will post -1.1 EPS for the current year.

Insider Activity

In related news, Director Michael Weintraub sold 7,431 shares of the company’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $27.51, for a total transaction of $204,426.81. Following the sale, the director owned 143,039 shares in the company, valued at approximately $3,935,002.89. This represents a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark Douglas Smith sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $29.00, for a total value of $203,000.00. Following the completion of the transaction, the director owned 37,353 shares of the company’s stock, valued at approximately $1,083,237. This represents a 15.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,804 shares of company stock worth $1,510,733. 5.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Phreesia

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. increased its position in Phreesia by 0.9% during the 4th quarter. Invesco Ltd. now owns 40,249 shares of the company’s stock worth $1,013,000 after buying an additional 357 shares during the period. Diversified Trust Co grew its stake in shares of Phreesia by 1.0% in the second quarter. Diversified Trust Co now owns 45,042 shares of the company’s stock valued at $1,282,000 after acquiring an additional 426 shares in the last quarter. NewEdge Advisors LLC increased its position in Phreesia by 12.1% during the fourth quarter. NewEdge Advisors LLC now owns 4,256 shares of the company’s stock worth $107,000 after acquiring an additional 459 shares during the period. Arcadia Investment Management Corp MI raised its stake in Phreesia by 0.7% in the 1st quarter. Arcadia Investment Management Corp MI now owns 92,770 shares of the company’s stock worth $2,371,000 after purchasing an additional 615 shares in the last quarter. Finally, QRG Capital Management Inc. raised its stake in Phreesia by 8.0% in the 1st quarter. QRG Capital Management Inc. now owns 11,118 shares of the company’s stock worth $284,000 after purchasing an additional 827 shares in the last quarter. 92.10% of the stock is owned by 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. The company offers access solutions that offers appointment scheduling system for online appointments, reminders, and referral tracking management; 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.