Phreesia (NYSE:PHR) Sets New 12-Month Low Following Analyst Downgrade

Phreesia, Inc. (NYSE:PHR) shares reached a new 52-week low during mid-day trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $29.00 to $24.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Phreesia traded as low as $11.55 and last traded at $11.6970, with a volume of 610907 shares traded. The stock had previously closed at $12.71.

A number of other brokerages also recently commented on PHR. Wall Street Zen downgraded shares of Phreesia from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 8th. Royal Bank Of Canada began coverage on Phreesia in a research report on Friday, January 9th. They issued a “moderate buy” rating and a $26.00 target price on the stock. Truist Financial set a $24.00 price objective on shares of Phreesia in a research note on Thursday, January 8th. Needham & Company LLC reiterated a “buy” rating and set a $35.00 target price on shares of Phreesia in a research report on Monday, December 8th. Finally, Wells Fargo & Company initiated coverage on shares of Phreesia in a research report on Thursday, January 8th. They set an “overweight” rating and a $30.00 price objective for the company. Seventeen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $29.12.

Insiders Place Their Bets

In other news, CFO Balaji Gandhi sold 8,009 shares of Phreesia stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $17.01, for a total value of $136,233.09. Following the sale, the chief financial officer directly owned 156,231 shares in the company, valued at approximately $2,657,489.31. This trade represents a 4.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Linetsky sold 6,106 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $17.01, for a total value of $103,863.06. Following the transaction, the insider directly owned 231,723 shares of the company’s stock, valued at approximately $3,941,608.23. This trade represents a 2.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 60,766 shares of company stock worth $1,013,817 over the last quarter. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Phreesia

Institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. bought a new position in Phreesia in the third quarter worth approximately $32,000. Van ECK Associates Corp increased its position in Phreesia by 78.7% during the 4th quarter. Van ECK Associates Corp now owns 2,502 shares of the company’s stock valued at $42,000 after buying an additional 1,102 shares in the last quarter. Asset Management One Co. Ltd. acquired a new stake in Phreesia in the 3rd quarter worth approximately $45,000. KBC Group NV increased its holdings in shares of Phreesia by 83.4% in the fourth quarter. KBC Group NV now owns 3,449 shares of the company’s stock valued at $58,000 after purchasing an additional 1,568 shares during the period. Finally, Garner Asset Management Corp purchased a new position in Phreesia during the 4th quarter worth approximately $81,000. 92.10% of the stock is owned by institutional investors.

Phreesia Stock Down 8.2%

The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.01. The stock has a market cap of $703.77 million, a PE ratio of -116.96 and a beta of 0.65. The business has a 50 day moving average price of $15.14 and a 200 day moving average price of $20.84.

Phreesia (NYSE:PHR) last issued its quarterly earnings results on Monday, December 8th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.11. Phreesia had a negative return on equity of 1.31% and a negative net margin of 1.16%.The company had revenue of $120.33 million for the quarter, compared to the consensus estimate of $119.98 million. During the same quarter in the prior year, the business posted ($0.25) earnings per share. Phreesia’s revenue for the quarter was up 12.7% on a year-over-year basis. Equities research analysts expect that Phreesia, Inc. will post -1.1 EPS for the current fiscal year.

Phreesia Company Profile

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.