Shares of Phreesia, Inc. (NYSE:PHR – Get Free Report) dropped 8.4% during mid-day trading on Thursday . The company traded as low as $10.17 and last traded at $10.20. 161,728 shares were traded during trading, a decline of 90% from the average daily volume of 1,614,601 shares. The stock had previously closed at $11.14.
Analysts Set New Price Targets
PHR has been the subject of several analyst reports. Citigroup reiterated a “market perform” rating on shares of Phreesia in a report on Friday, May 29th. Weiss Ratings upgraded Phreesia from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, July 20th. Wall Street Zen upgraded Phreesia from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Piper Sandler lowered Phreesia from an “overweight” rating to a “neutral” rating and set a $12.00 price objective for the company. in a report on Thursday, May 28th. Finally, Canaccord Genuity Group decreased their price target on shares of Phreesia from $22.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, May 28th. Nine investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Phreesia presently has an average rating of “Hold” and an average target price of $16.65.
Check Out Our Latest Report on Phreesia
Phreesia Trading Down 6.4%
Phreesia (NYSE:PHR – Get Free Report) last issued its quarterly earnings results on Wednesday, May 27th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $130.94 million during the quarter, compared to the consensus estimate of $130.08 million. Phreesia had a net margin of 1.85% and a return on equity of 5.13%. Phreesia’s revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.07) EPS. On average, analysts predict that Phreesia, Inc. will post 0.39 EPS for the current year.
Institutional Investors Weigh In On Phreesia
A number of institutional investors and hedge funds have recently modified their holdings of PHR. Pale Fire Capital SE purchased a new position in Phreesia in the 1st quarter worth about $72,481,000. Granahan Investment Management LLC boosted its holdings in shares of Phreesia by 73.8% in the fourth quarter. Granahan Investment Management LLC now owns 2,399,613 shares of the company’s stock worth $40,601,000 after buying an additional 1,018,987 shares during the period. Prosight Management LP purchased a new position in shares of Phreesia in the fourth quarter worth approximately $16,533,000. Millennium Management LLC raised its holdings in shares of Phreesia by 730.7% during the third quarter. Millennium Management LLC now owns 1,064,132 shares of the company’s stock valued at $25,028,000 after acquiring an additional 936,033 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Phreesia during the fourth quarter valued at approximately $15,213,000. 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.
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