Phreesia (NYSE:PHR) Shares Gap Up – Here’s Why

Phreesia, Inc. (NYSE:PHR)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $11.42, but opened at $12.60. Phreesia shares last traded at $12.8730, with a volume of 230,378 shares traded.

Analysts Set New Price Targets

Several research firms have recently weighed in on PHR. Piper Sandler cut Phreesia from an “overweight” rating to a “neutral” rating and set a $12.00 price target on the stock. in a report on Thursday, May 28th. KeyCorp cut their price objective on Phreesia from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Monday, April 13th. Wells Fargo & Company reiterated an “equal weight” rating and set a $9.00 price objective (down from $15.00) on shares of Phreesia in a research report on Wednesday, May 20th. Weiss Ratings raised Phreesia from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, July 20th. Finally, DA Davidson reissued a “buy” rating and issued a $14.00 target price on shares of Phreesia in a research report on Thursday, May 28th. Nine research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Phreesia currently has an average rating of “Hold” and an average target price of $16.65.

Phreesia Trading Up 9.7%

The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $774.23 million, a PE ratio of 83.53 and a beta of 0.85. The stock’s fifty day simple moving average is $10.23 and its 200 day simple moving average is $10.74.

Phreesia (NYSE:PHR) last issued its quarterly earnings results on Wednesday, May 27th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. Phreesia had a net margin of 1.85% and a return on equity of 5.13%. The business had revenue of $130.94 million for the quarter, compared to analysts’ expectations of $130.08 million. During the same quarter last year, the company posted ($0.07) EPS. The company’s revenue was up 12.9% compared to the same quarter last year. On average, sell-side analysts predict that Phreesia, Inc. will post 0.39 earnings per share for the current year.

Hedge Funds Weigh In On Phreesia

Several institutional investors and hedge funds have recently bought and sold shares of PHR. Tudor Investment Corp ET AL purchased a new position in shares of Phreesia in the third quarter valued at about $4,173,000. Cambiar Investors LLC boosted its stake in shares of Phreesia by 48.9% in the fourth quarter. Cambiar Investors LLC now owns 358,474 shares of the company’s stock worth $6,065,000 after acquiring an additional 117,681 shares during the period. King Luther Capital Management Corp grew its position in shares of Phreesia by 172.6% during the fourth quarter. King Luther Capital Management Corp now owns 268,314 shares of the company’s stock worth $4,540,000 after purchasing an additional 169,900 shares in the last quarter. Meros Investment Management LP grew its position in shares of Phreesia by 48.5% during the fourth quarter. Meros Investment Management LP now owns 478,274 shares of the company’s stock worth $8,092,000 after purchasing an additional 156,137 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in Phreesia by 544.3% during the 1st quarter. SG Americas Securities LLC now owns 457,925 shares of the company’s stock valued at $3,837,000 after purchasing an additional 386,848 shares during the period. 92.10% of the stock is currently owned by hedge funds and other institutional investors.

About Phreesia

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.