DA Davidson Upgrades Phreesia (NYSE:PHR) to Strong-Buy

Phreesia (NYSE:PHR - Get Free Report) was upgraded by stock analysts at DA Davidson to a "strong-buy" rating in a research note issued on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently commented on PHR. KeyCorp increased their price target on shares of Phreesia from $28.00 to $35.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Wall Street Zen upgraded shares of Phreesia from a "hold" rating to a "buy" rating in a report on Sunday, June 1st. Truist Financial increased their price target on shares of Phreesia from $34.00 to $35.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Citigroup reiterated a "buy" rating on shares of Phreesia in a report on Wednesday, May 28th. Finally, Canaccord Genuity Group cut their price target on shares of Phreesia from $35.00 to $34.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $32.27.

Phreesia Stock Performance

NYSE PHR opened at $26.86 on Tuesday. Phreesia has a 52-week low of $17.07 and a 52-week high of $30.53. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market capitalization of $1.60 billion, a P/E ratio of -36.29 and a beta of 0.72. The company has a fifty day moving average of $26.50 and a 200-day moving average of $26.41.

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

Insiders Place Their Bets

In related news, SVP David Linetsky sold 23,729 shares of the stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $28.50, for a total value of $676,276.50. Following the sale, the senior vice president directly owned 193,510 shares of the company's stock, valued at approximately $5,515,035. This represents a 10.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark Douglas Smith sold 7,000 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was 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 approximately $1,083,237. The trade was a 15.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,804 shares of company stock worth $1,510,733. Corporate insiders own 5.50% of the company's stock.

Institutional Trading of Phreesia

A number of hedge funds have recently made changes to their positions in the stock. Proficio Capital Partners LLC bought a new stake in Phreesia in the fourth quarter valued at $377,000. Raymond James Financial Inc. bought a new stake in Phreesia in the fourth quarter valued at $379,000. Swiss National Bank lifted its stake in Phreesia by 1.3% in the fourth quarter. Swiss National Bank now owns 107,900 shares of the company's stock valued at $2,715,000 after buying an additional 1,400 shares during the last quarter. American Century Companies Inc. bought a new stake in Phreesia in the fourth quarter valued at $644,000. Finally, Sei Investments Co. lifted its stake in Phreesia by 8.4% in the fourth quarter. Sei Investments Co. now owns 196,815 shares of the company's stock valued at $4,952,000 after buying an additional 15,241 shares during the last quarter. 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.

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