Phreesia (NYSE:PHR) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Phreesia from “hold” to “buy,” although the broader analyst consensus remains “Hold,” with eight Buy, ten Hold, and one Sell rating and an average price target of $14.
• Phreesia’s stock opened at $10.79, while its latest quarterly results showed revenue of $129.46 million—slightly above estimates—but adjusted EPS of $0.03, below the $0.09 consensus.
• Institutional ownership is substantial at 92.1%. Several major investors increased or initiated positions, while an insider sale was conducted under a pre-arranged plan to cover tax obligations.

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

A number of other brokerages have also weighed in on PHR. Citigroup reaffirmed a "market perform" rating on shares of Phreesia in a report on Friday, September 4th. DA Davidson decreased their price target on Phreesia from $14.00 to $13.00 and set a "buy" rating on the stock in a research note on Friday, September 4th. Robert W. Baird upped their price objective on Phreesia from $10.00 to $11.00 and gave the stock a "neutral" rating in a report on Friday, September 4th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $19.00 price objective on shares of Phreesia in a research report on Thursday, September 3rd. Finally, Weiss Ratings lowered shares of Phreesia from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, September 4th. Eight equities research 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 MarketBeat.com, Phreesia presently has a consensus rating of "Hold" and a consensus target price of $14.00.

Phreesia Price Performance

Phreesia stock 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 50 day simple moving average of $11.06 and a 200-day simple moving average of $10.20. Phreesia has a 12 month low of $7.77 and a 12 month high of $24.13. The stock has a market capitalization of $669.67 million, a PE ratio of 63.47 and a beta of 0.84.

Phreesia (NYSE:PHR - Get Free Report) last announced its quarterly earnings data 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). Phreesia had a net margin of 2.06% and a return on equity of 5.22%. The firm had revenue of $129.46 million during the quarter, compared to analyst estimates of $129.06 million. During the same period in the prior year, the firm posted $0.01 earnings per share. The business's quarterly revenue was up 10.4% compared to the same quarter last year. Equities analysts predict that Phreesia will post 0.33 earnings per share for the current year.

Insider Activity

In related news, General Counsel Allison C. Hoffman sold 6,662 shares of the stock in a transaction on Monday, September 21st. The stock was sold at an average price of $10.08, for a total transaction of $67,152.96. Following the sale, the general counsel 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 owned by corporate insiders.

Institutional Investors Weigh In On Phreesia

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Pale Fire Capital SE grew its holdings in Phreesia by 3.2% in the 2nd quarter. Pale Fire Capital SE now owns 8,924,329 shares of the company's stock valued at $91,831,000 after buying an additional 275,000 shares during the period. BlackRock Inc. purchased a new position in shares of Phreesia during the 2nd quarter worth about $72,234,000. Granahan Investment Management LLC boosted its position 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 acquiring an additional 1,018,987 shares during the last quarter. Bank of America Corp DE boosted its position 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 acquiring an additional 588,444 shares during the last quarter. Finally, OP Asset Management Ltd purchased a new stake in Phreesia in the first quarter valued at approximately $6,487,000. 92.10% of the stock is currently owned by hedge funds and other 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.

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