Phreesia (NYSE:PHR) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded Phreesia from “buy” to “hold.” Overall analyst sentiment is also “Hold,” with eight Buy, ten Hold and one Sell rating, and a consensus price target of $14.07.
• Phreesia shares opened at $12.67, above their 50-day and 200-day moving averages, but remain well below the 12-month high of $23.99. The company’s latest quarter included revenue of $129.46 million, up 10.4% year over year, though EPS of $0.03 missed estimates by $0.06.
• Institutional investors own 92.1% of Phreesia and several funds recently increased their stakes. An insider sale of 6,662 shares was made to cover tax withholding obligations under a pre-arranged trading plan.

Phreesia (NYSE:PHR - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday, Wall Street Zen reports.

A number of other analysts have also weighed in on the stock. Canaccord Genuity Group reaffirmed a "buy" rating and set a $16.00 target price on shares of Phreesia in a report on Thursday, September 3rd. Robert W. Baird raised their price target on shares of Phreesia from $10.00 to $11.00 and gave the company a "neutral" rating in a report on Friday, September 4th. Weiss Ratings raised shares of Phreesia from a "sell (d)" rating to a "sell (d+)" rating in a report on Monday. DA Davidson reduced their price target on shares of Phreesia from $14.00 to $13.00 and set a "buy" rating for the company in a research report on Friday, September 4th. Finally, 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. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $14.07.

Phreesia Trading Down 0.4%

Shares of PHR opened at $12.67 on Friday. The business's 50-day moving average price is $10.96 and its 200-day moving average price is $10.29. Phreesia has a twelve month low of $7.77 and a twelve month high of $23.99. The stock has a market cap of $786.18 million, a PE ratio of 42.40 and a beta of 0.84. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.33.

Phreesia (NYSE:PHR - Get Free Report) last announced its quarterly earnings results on Wednesday, September 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.06). Phreesia had a return on equity of 5.22% and a net margin of 2.06%. The firm had revenue of $129.46 million during the quarter, compared to analysts' expectations of $129.06 million. During the same period in the previous year, the company posted $0.01 earnings per share. The company's quarterly revenue was up 10.4% compared to the same quarter last year. On average, equities analysts forecast that Phreesia will post 0.33 EPS for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Allison C. Hoffman sold 6,662 shares of the stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $10.08, for a total transaction of $67,152.96. Following the transaction, the general counsel directly owned 266,574 shares in the company, valued at approximately $2,687,065.92. This represents a 2.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.

Hedge Funds Weigh In On Phreesia

A number of large investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC lifted its stake in Phreesia by 4.7% in the third quarter. Sterling Capital Management LLC now owns 26,410 shares of the company's stock worth $273,000 after purchasing an additional 1,190 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Phreesia by 354.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,755 shares of the company's stock valued at $47,000 after buying an additional 2,149 shares during the last quarter. Allworth Financial LP grew its stake in shares of Phreesia by 78.3% during the second quarter. Allworth Financial LP now owns 5,613 shares of the company's stock valued at $58,000 after buying an additional 2,465 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Phreesia by 1,119.8% in the first quarter. EverSource Wealth Advisors LLC now owns 3,269 shares of the company's stock worth $27,000 after buying an additional 3,001 shares during the period. Finally, Integrated Wealth Concepts LLC increased its holdings in shares of Phreesia by 37.2% in the second quarter. Integrated Wealth Concepts LLC now owns 14,129 shares of the company's stock worth $145,000 after buying an additional 3,834 shares during the period. Hedge funds and other institutional investors own 92.10% of the company's stock.

About Phreesia

Phreesia, Inc is a healthcare technology company that provides a platform for managing administrative and financial interactions between healthcare organizations and their patients. Its software is designed to help medical practices and other care providers streamline registration, intake, payments, communications and related workflows.

The Phreesia platform includes digital patient check-in tools that allow patients to complete forms, update demographic and insurance information, make payments and review relevant educational or administrative content.

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