Phreesia, Inc. (NYSE:PHR) Stock Has Average Target Price of $14.00 According to Brokerages

Phreesia, Inc. (NYSE:PHR) has been given a consensus recommendation of “Hold” by the nineteen research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $14.00.

Several research firms have commented on PHR. Canaccord Genuity Group reaffirmed a “buy” rating and set a $16.00 price objective on shares of Phreesia in a report on Thursday, September 3rd. Wall Street Zen upgraded shares of Phreesia from a “hold” rating to a “buy” rating in a research note on Saturday. Wells Fargo & Company boosted their price target on shares of Phreesia from $9.00 to $10.00 and gave the company an “equal weight” rating in a research report on Thursday, September 3rd. Robert W. Baird upped their price target on shares of Phreesia from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, September 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Phreesia in a report on Monday, August 31st.

Phreesia Stock Performance

NYSE:PHR opened at $10.79 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.76 and a quick ratio of 1.76. The business has a fifty day simple moving average of $11.06 and a two-hundred day simple moving average of $10.20. Phreesia has a 1 year low of $7.77 and a 1 year high of $24.13. The company has a market capitalization of $669.67 million, a P/E ratio of 63.47 and a beta of 0.84.

Phreesia (NYSE:PHR) last issued its earnings results on Wednesday, September 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.06). The firm had revenue of $129.46 million during the quarter, compared to the consensus estimate of $129.06 million. Phreesia had a net margin of 2.06% and a return on equity of 5.22%. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.01 earnings per share. On average, analysts expect that Phreesia will post 0.33 earnings per share for the current year.

Insider Activity

In other news, General Counsel Allison C. Hoffman sold 6,662 shares of the firm’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $10.08, for a total value of $67,152.96. Following the completion of the transaction, the general counsel directly owned 266,574 shares of the company’s stock, valued at $2,687,065.92. This trade represents a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 5.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Phreesia

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Pale Fire Capital SE boosted its stake in Phreesia by 3.2% in the 2nd quarter. Pale Fire Capital SE now owns 8,924,329 shares of the company’s stock worth $91,831,000 after purchasing an additional 275,000 shares during the period. BlackRock Inc. bought a new stake in shares of Phreesia during the second quarter valued at about $72,234,000. Granahan Investment Management LLC lifted its holdings in shares of Phreesia by 73.8% in the fourth quarter. Granahan Investment Management LLC now owns 2,399,613 shares of the company’s stock worth $40,601,000 after buying an additional 1,018,987 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Phreesia by 142.6% in the first quarter. Bank of America Corp DE now owns 1,001,057 shares of the company’s stock worth $8,389,000 after buying an additional 588,444 shares in the last quarter. Finally, Meros Investment Management LP boosted its position in shares of Phreesia by 48.5% in the fourth quarter. Meros Investment Management LP now owns 478,274 shares of the company’s stock valued at $8,092,000 after acquiring an additional 156,137 shares during the period. 92.10% of the stock is currently owned by institutional investors.

Phreesia Company Profile

Phreesia, Inc is a healthcare technology company that provides software and services designed to simplify and automate the patient intake process. Its platform helps healthcare organizations manage registration, consent forms, clinical questionnaires, insurance and demographic information, payments, and other administrative tasks through digital tools.

The company’s offerings are used by medical practices, health systems, and other healthcare organizations to improve patient engagement and support administrative and revenue-cycle workflows.