Phreesia (NYSE:PHR) Upgraded at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Phreesia (NYSE:PHR) from a sector perform rating to an outperform rating in a report published on Wednesday, MarketBeat reports. The firm currently has $32.00 price objective on the stock, up from their prior price objective of $24.00.

A number of other equities research analysts also recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $29.00 price target on shares of Phreesia in a research note on Tuesday, December 10th. Robert W. Baird reduced their price target on shares of Phreesia from $34.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 11th. JMP Securities reiterated a “market outperform” rating and issued a $30.00 price objective on shares of Phreesia in a report on Tuesday, December 10th. Finally, Truist Financial raised their price objective on shares of Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $31.00.

Phreesia Trading Down 5.9 %

Shares of Phreesia stock opened at $26.75 on Wednesday. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -18.20 and a beta of 0.94. The company has a quick ratio of 1.77, a current ratio of 1.74 and a debt-to-equity ratio of 0.04. Phreesia has a 12-month low of $17.07 and a 12-month high of $29.16. The firm’s 50-day moving average price is $22.87 and its two-hundred day moving average price is $22.62.

Phreesia (NYSE:PHR) last announced its quarterly earnings data on Monday, December 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.04. The firm had revenue of $106.80 million for the quarter, compared to the consensus estimate of $106.33 million. Phreesia had a negative net margin of 20.43% and a negative return on equity of 32.78%. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.58) earnings per share. On average, analysts forecast that Phreesia will post -1.16 earnings per share for the current fiscal year.

Insider Transactions at Phreesia

In other news, General Counsel Allison C. Hoffman sold 1,212 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $21.03, for a total transaction of $25,488.36. Following the completion of the sale, the general counsel now owns 119,791 shares of the company’s stock, valued at $2,519,204.73. This trade represents a 1.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Chaim Indig sold 3,089 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $21.03, for a total transaction of $64,961.67. Following the sale, the chief executive officer now directly owns 1,220,647 shares of the company’s stock, valued at approximately $25,670,206.41. This trade represents a 0.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 104,384 shares of company stock valued at $2,418,475 in the last quarter. 5.80% of the stock is currently owned by company insiders.

Institutional Trading of Phreesia

Several hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. grew its position in Phreesia by 3.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,497,631 shares of the company’s stock valued at $31,495,000 after purchasing an additional 42,973 shares during the period. Geode Capital Management LLC grew its position in Phreesia by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,245,797 shares of the company’s stock valued at $28,397,000 after purchasing an additional 55,934 shares during the period. M&T Bank Corp grew its position in Phreesia by 4.6% in the 3rd quarter. M&T Bank Corp now owns 35,127 shares of the company’s stock valued at $801,000 after purchasing an additional 1,535 shares during the period. Barclays PLC grew its position in Phreesia by 83.6% in the 3rd quarter. Barclays PLC now owns 94,929 shares of the company’s stock valued at $2,163,000 after purchasing an additional 43,225 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Phreesia in the 3rd quarter valued at $247,000. Institutional investors and hedge funds own 92.10% of the company’s stock.

About Phreesia

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.