Phreesia (NYSE:PHR) Price Target Raised to $35.00 at Citigroup

Phreesia (NYSE:PHR) had its target price lifted by Citigroup from $31.00 to $35.00 in a research report sent to investors on Friday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other analysts have also issued research reports about the stock. Royal Bank of Canada upgraded shares of Phreesia from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $24.00 to $32.00 in a research report on Wednesday. KeyCorp lifted their price target on shares of Phreesia from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday. Truist Financial lifted their price target on shares of Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Robert W. Baird decreased their price target on shares of Phreesia from $34.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $30.00 price target on shares of Phreesia in a report on Tuesday, December 10th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $31.00.

Phreesia Stock Down 5.9 %

Shares of NYSE PHR opened at $26.75 on Friday. Phreesia has a 1 year low of $17.07 and a 1 year high of $29.16. The firm’s 50 day moving average price is $22.87 and its 200 day moving average price is $22.62. The firm has a market cap of $1.55 billion, a P/E ratio of -18.20 and a beta of 0.94. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.77 and a current ratio of 1.74.

Phreesia (NYSE:PHR) last announced its earnings results 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. Phreesia had a negative net margin of 20.43% and a negative return on equity of 32.78%. The firm had revenue of $106.80 million for the quarter, compared to analyst estimates of $106.33 million. During the same quarter last year, the business earned ($0.58) earnings per share. Phreesia’s revenue was up 16.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Phreesia will post -1.16 earnings per share for the current year.

Insider Activity

In related news, COO Evan Roberts sold 2,681 shares of Phreesia stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $27.95, for a total transaction of $74,933.95. Following the sale, the chief operating officer now owns 769,993 shares of the company’s stock, valued at $21,521,304.35. The trade was a 0.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Yvonne Hui sold 2,791 shares of Phreesia stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $20.92, for a total transaction of $58,387.72. Following the sale, the insider now directly owns 27,228 shares in the company, valued at $569,609.76. This trade represents a 9.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,384 shares of company stock valued at $2,418,475. Company insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Versor Investments LP acquired a new position in Phreesia during the 3rd quarter worth $694,000. Zacks Investment Management acquired a new position in Phreesia during the 3rd quarter worth $631,000. Sei Investments Co. grew its holdings in Phreesia by 135.3% during the 2nd quarter. Sei Investments Co. now owns 165,327 shares of the company’s stock worth $3,505,000 after acquiring an additional 95,058 shares in the last quarter. State Street Corp grew its holdings in Phreesia by 7.1% during the 3rd quarter. State Street Corp now owns 1,327,586 shares of the company’s stock worth $30,256,000 after acquiring an additional 88,517 shares in the last quarter. Finally, Barclays PLC grew its holdings in Phreesia by 83.6% during the 3rd quarter. Barclays PLC now owns 94,929 shares of the company’s stock worth $2,163,000 after acquiring an additional 43,225 shares in the last quarter. 92.10% of the stock is owned by institutional investors and hedge funds.

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.