Phreesia (NYSE:PHR) Upgraded at DA Davidson

DA Davidson upgraded shares of Phreesia (NYSE:PHR - Free Report) to a strong-buy rating in a research report sent to investors on Tuesday,Zacks.com reports.

PHR has been the topic of several other reports. Wall Street Zen upgraded shares of Phreesia from a "hold" rating to a "buy" rating in a research report on Sunday, June 1st. KeyCorp increased their target price on shares of Phreesia from $28.00 to $35.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Canaccord Genuity Group dropped their target price on shares of Phreesia from $35.00 to $34.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Citigroup reaffirmed a "buy" rating on shares of Phreesia in a research note on Wednesday, May 28th. Finally, Truist Financial upped their price objective on shares of Phreesia from $34.00 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $32.27.

Phreesia Price Performance

Shares of Phreesia stock traded down $0.43 during trading on Tuesday, hitting $26.62. 360,753 shares of the company's stock traded hands, compared to its average volume of 578,262. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.95 and a quick ratio of 1.95. The firm's fifty day moving average price is $26.61 and its 200 day moving average price is $26.41. Phreesia has a twelve month low of $17.07 and a twelve month high of $30.53. The company has a market cap of $1.58 billion, a PE ratio of -35.97 and a beta of 0.72.

Phreesia (NYSE:PHR - Get Free Report) last issued its earnings results on Wednesday, May 28th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.06. Phreesia had a negative net margin of 9.83% and a negative return on equity of 16.23%. The business had revenue of $115.94 million for the quarter, compared to analyst estimates of $115.00 million. During the same period in the previous year, the business earned ($0.05) EPS. The firm's revenue was up 14.5% on a year-over-year basis. Analysts forecast that Phreesia will post -1.1 earnings per share for the current year.

Insider Buying and Selling at Phreesia

In related news, Director Mark Douglas Smith sold 7,000 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $29.00, for a total transaction of $203,000.00. Following the transaction, the director owned 37,353 shares in the company, valued at $1,083,237. This represents a 15.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lisa Egbuonu-Davis sold 2,802 shares of the company's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $27.67, for a total transaction of $77,531.34. Following the transaction, the director owned 22,037 shares in the company, valued at approximately $609,763.79. This trade represents a 11.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 53,804 shares of company stock worth $1,510,733 over the last quarter. Corporate insiders own 5.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Phreesia by 108.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,644,988 shares of the company's stock worth $67,606,000 after purchasing an additional 1,377,904 shares during the period. American Century Companies Inc. increased its position in Phreesia by 3,741.9% in the first quarter. American Century Companies Inc. now owns 983,440 shares of the company's stock worth $25,137,000 after purchasing an additional 957,842 shares during the period. Deerfield Management Company L.P. Series C increased its position in Phreesia by 133.6% in the fourth quarter. Deerfield Management Company L.P. Series C now owns 1,271,832 shares of the company's stock worth $31,999,000 after purchasing an additional 727,384 shares during the period. Greenhouse Funds LLLP increased its position in Phreesia by 27.9% in the fourth quarter. Greenhouse Funds LLLP now owns 2,873,892 shares of the company's stock worth $72,307,000 after purchasing an additional 626,579 shares during the period. Finally, Nuveen LLC acquired a new stake in Phreesia in the first quarter worth about $14,206,000. Institutional investors and hedge funds own 92.10% of the company's stock.

Phreesia Company Profile

Phreesia, Inc provides an integrated SaaS-based software and payment platform for the healthcare industry in the United States and Canada. The company offers access solutions that offers appointment scheduling system for online appointments, reminders, and referral tracking management; registration solution to automate patient self-registration; revenue cycle solution, which offer insurance-verification processes, point-of-sale payments applications, post-visit payment collection, and flexible payment options; and network connect solution to deliver clinically relevant content to patients.