Phreesia (NYSE:PHR) Shares Up 7.9% – Still a Buy?

Phreesia, Inc. (NYSE:PHR)’s stock price traded up 7.9% during mid-day trading on Tuesday . The stock traded as high as $28.97 and last traded at $29.11. 367,600 shares were traded during mid-day trading, a decline of 2% from the average session volume of 376,616 shares. The stock had previously closed at $26.98.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PHR shares. Needham & Company LLC restated a “buy” rating and set a $29.00 price objective on shares of Phreesia in a report on Friday, January 10th. JMP Securities restated a “market outperform” rating and set a $30.00 price objective on shares of Phreesia in a report on Tuesday, December 10th. KeyCorp lifted their price objective on shares of Phreesia from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Piper Sandler reissued an “overweight” rating and set a $33.00 target price (up from $31.00) on shares of Phreesia in a research report on Wednesday. Finally, Truist Financial raised their price target on shares of Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Thirteen research analysts have rated the stock with a buy rating, According to MarketBeat, Phreesia currently has a consensus rating of “Buy” and a consensus price target of $31.15.

Phreesia Price Performance

The company has a market capitalization of $1.69 billion, a P/E ratio of -19.75 and a beta of 0.94. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.04. The business’s fifty day moving average price is $24.78 and its 200-day moving average price is $23.24.

Phreesia (NYSE:PHR) last announced its quarterly earnings data on Monday, December 9th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.04. Phreesia had a negative return on equity of 32.78% and a negative net margin of 20.43%. The firm had revenue of $106.80 million for the quarter, compared to analyst estimates of $106.33 million. During the same period in the prior year, the company earned ($0.58) EPS. The company’s revenue was up 16.6% on a year-over-year basis. As a group, sell-side analysts predict that Phreesia, Inc. will post -1.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Balaji Gandhi sold 4,813 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $27.48, for a total value of $132,261.24. Following the transaction, the chief financial officer now owns 144,933 shares in the company, valued at $3,982,758.84. The trade was a 3.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Allison C. Hoffman sold 3,495 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $24.88, for a total transaction of $86,955.60. Following the sale, the general counsel now owns 116,296 shares of the company’s stock, valued at approximately $2,893,444.48. This represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 165,653 shares of company stock valued at $4,176,464 in the last quarter. Insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Phreesia

Several institutional investors have recently modified their holdings of PHR. Champlain Investment Partners LLC raised its stake in Phreesia by 4.1% during the 3rd quarter. Champlain Investment Partners LLC now owns 2,503,837 shares of the company’s stock valued at $57,062,000 after buying an additional 97,847 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Phreesia by 3.0% in the third quarter. Franklin Resources Inc. now owns 1,497,631 shares of the company’s stock worth $31,495,000 after acquiring an additional 42,973 shares during the period. State Street Corp increased its position in Phreesia by 7.1% during the third quarter. State Street Corp now owns 1,327,586 shares of the company’s stock valued at $30,256,000 after acquiring an additional 88,517 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Phreesia by 4.7% in the third quarter. Geode Capital Management LLC now owns 1,245,797 shares of the company’s stock valued at $28,397,000 after acquiring an additional 55,934 shares during the period. Finally, TimesSquare Capital Management LLC boosted its position in Phreesia by 2.3% in the third quarter. TimesSquare Capital Management LLC now owns 868,409 shares of the company’s stock worth $19,791,000 after purchasing an additional 19,395 shares during the last quarter. 92.10% of the stock is owned by hedge funds and other institutional investors.

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.