Phreesia (NYSE:PHR) Price Target Lowered to $29.00 at Citigroup

Phreesia (NYSE:PHR) had its price objective decreased by analysts at Citigroup from $34.00 to $29.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 87.21% from the company’s current price.

PHR has been the topic of a number of other reports. JPMorgan Chase & Co. decreased their target price on Phreesia from $32.00 to $29.00 and set an “overweight” rating on the stock in a research report on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $35.00 price objective on shares of Phreesia in a research report on Monday. DA Davidson lifted their price objective on Phreesia from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. Raymond James Financial set a $33.00 target price on Phreesia and gave the company an “outperform” rating in a research note on Friday, September 5th. Finally, Canaccord Genuity Group decreased their price target on shares of Phreesia from $38.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday. Sixteen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.38.

Phreesia Stock Performance

PHR stock traded down $4.63 on Tuesday, reaching $15.49. 6,320,888 shares of the company were exchanged, compared to its average volume of 658,735. The firm has a market capitalization of $928.07 million, a PE ratio of -37.10 and a beta of 0.64. Phreesia has a 12 month low of $15.41 and a 12 month high of $32.76. The stock’s fifty day moving average price is $22.03 and its 200 day moving average price is $25.25. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.12 and a quick ratio of 2.12.

Phreesia (NYSE:PHR) last issued its quarterly earnings results on Monday, December 8th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.11. The firm had revenue of $120.33 million during the quarter, compared to the consensus estimate of $119.98 million. Phreesia had a negative net margin of 5.35% and a negative return on equity of 8.75%. The business’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.25) EPS. On average, research analysts anticipate that Phreesia will post -1.1 EPS for the current fiscal year.

Insider Transactions at Phreesia

In other Phreesia news, insider David Linetsky sold 2,165 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $23.28, for a total transaction of $50,401.20. Following the sale, the insider directly owned 174,952 shares of the company’s stock, valued at approximately $4,072,882.56. This represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Balaji Gandhi sold 4,183 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $23.28, for a total transaction of $97,380.24. Following the sale, the chief financial officer directly owned 99,125 shares of the company’s stock, valued at approximately $2,307,630. The trade was a 4.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 26,174 shares of company stock valued at $603,835. 5.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Phreesia

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. grew its holdings in shares of Phreesia by 2.7% during the second quarter. Raymond James Financial Inc. now owns 14,049 shares of the company’s stock worth $400,000 after purchasing an additional 375 shares during the last quarter. Diversified Trust Co lifted its position in Phreesia by 1.0% during the 2nd quarter. Diversified Trust Co now owns 45,042 shares of the company’s stock worth $1,282,000 after buying an additional 426 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Phreesia by 2.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 19,983 shares of the company’s stock worth $569,000 after buying an additional 540 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Phreesia by 9.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 8,803 shares of the company’s stock worth $251,000 after acquiring an additional 792 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Phreesia by 1.3% during the 3rd quarter. Alliancebernstein L.P. now owns 62,712 shares of the company’s stock worth $1,475,000 after acquiring an additional 812 shares during the last quarter. 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.