Needham & Company LLC Reiterates "Buy" Rating for Phreesia (NYSE:PHR)

Key Points

• Needham & Company reaffirmed its “Buy” rating on Phreesia and maintained a $14 price target, implying approximately 15% upside from the prior close.
• Analyst sentiment is mixed: Phreesia has a consensus “Hold” rating and a $16.65 average price target, with nine Buy, nine Hold, and one Sell rating.
• Phreesia shares opened at $12.17, while institutional investors and hedge funds own a substantial 92.1% of the company’s stock.

Phreesia (NYSE:PHR - Get Free Report)'s stock had its "buy" rating restated by Needham & Company LLC in a note issued to investors on Monday,Benzinga reports. They currently have a $14.00 price target on the stock. Needham & Company LLC's target price would suggest a potential upside of 15.04% from the stock's previous close.

PHR has been the topic of several other reports. Barclays reaffirmed an "equal weight" rating and set a $10.00 target price (down from $24.00) on shares of Phreesia in a research note on Thursday, May 14th. Wall Street Zen upgraded shares of Phreesia from a "hold" rating to a "buy" rating in a research note on Saturday, May 30th. Canaccord Genuity Group cut their price objective on Phreesia from $22.00 to $16.00 and set a "buy" rating on the stock in a research report on Thursday, May 28th. DA Davidson reiterated a "buy" rating and issued a $14.00 price objective on shares of Phreesia in a research note on Thursday, May 28th. Finally, Weiss Ratings upgraded Phreesia from a "sell (d)" rating to a "sell (d+)" rating in a report on Monday, July 20th. Nine analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $16.65.

Phreesia Stock Up 0.2%

Shares of NYSE:PHR opened at $12.17 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.76 and a quick ratio of 1.76. The firm has a market capitalization of $752.23 million, a PE ratio of 81.13 and a beta of 0.85. The firm's 50-day moving average is $11.03 and its two-hundred day moving average is $10.48. Phreesia has a 1 year low of $7.77 and a 1 year high of $32.74.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. lifted its position in shares of Phreesia by 2.7% during the 2nd quarter. Raymond James Financial Inc. now owns 14,049 shares of the company's stock worth $400,000 after buying an additional 375 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Phreesia by 1.3% in the 3rd quarter. Alliancebernstein L.P. now owns 62,712 shares of the company's stock valued at $1,475,000 after buying an additional 812 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Phreesia by 78.7% in 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 during the last quarter. Deutsche Bank AG grew its position in shares of Phreesia by 2.4% in the 4th quarter. Deutsche Bank AG now owns 66,288 shares of the company's stock valued at $1,122,000 after buying an additional 1,540 shares during the last quarter. Finally, Commerce Bank raised its stake in Phreesia by 12.5% during the 4th quarter. Commerce Bank now owns 16,361 shares of the company's stock worth $277,000 after acquiring an additional 1,815 shares in the last quarter. Institutional investors and hedge funds own 92.10% of the company's stock.

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.

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