KeyCorp Has Lowered Expectations for Phreesia (NYSE:PHR) Stock Price

Key Points

• KeyCorp cut its price target on Phreesia from $15 to $12 but maintained an overweight rating; the consensus analyst target remains $20.82 with a "Moderate Buy" outlook.
• Phreesia reported Q1 EPS of $0.02, missing the $0.07 estimate, although revenue rose 15.9% to $127.1 million; the stock trades around $8, near its 52-week low and far below its $32.76 high.
• Insiders have been net sellers (40,367 shares sold in the past 90 days, ~$613k), while institutional investors own about 92.1% of the company.

Phreesia (NYSE:PHR - Get Free Report) had its price objective dropped by investment analysts at KeyCorp from $15.00 to $12.00 in a report issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the stock. KeyCorp's price objective would indicate a potential upside of 48.81% from the company's previous close.

Several other equities research analysts have also issued reports on the stock. DA Davidson lowered their target price on shares of Phreesia from $35.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, January 23rd. Stephens cut their price target on Phreesia from $32.00 to $20.00 and set an "overweight" rating for the company in a research note on Tuesday, March 31st. Citizens Jmp reiterated a "market perform" rating on shares of Phreesia in a research report on Wednesday, April 1st. Citigroup reissued a "neutral" rating and issued a $10.00 price objective (down from $25.00) on shares of Phreesia in a report on Tuesday, March 31st. Finally, Barclays cut their price objective on Phreesia from $26.00 to $24.00 and set an "overweight" rating for the company in a research report on Tuesday, December 16th. Twelve research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.82.

Phreesia Price Performance

Shares of PHR opened at $8.06 on Monday. The business's 50-day moving average is $11.32 and its two-hundred day moving average is $16.71. The company has a market capitalization of $489.97 million, a P/E ratio of 268.80 and a beta of 0.86. Phreesia has a fifty-two week low of $7.77 and a fifty-two week high of $32.76. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.53 and a current ratio of 1.53.

Phreesia (NYSE:PHR - Get Free Report) last issued its quarterly earnings data on Monday, March 30th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.05). Phreesia had a net margin of 0.48% and a return on equity of 3.23%. The company had revenue of $127.07 million during the quarter, compared to analyst estimates of $126.75 million. During the same period last year, the firm earned ($0.11) EPS. The business's quarterly revenue was up 15.9% compared to the same quarter last year. Research analysts predict that Phreesia will post -1.1 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Amy Beth Vanduyn sold 2,202 shares of Phreesia stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $16.36, for a total transaction of $36,024.72. Following the transaction, the senior vice president owned 157,349 shares in the company, valued at approximately $2,574,229.64. This trade represents a 1.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Balaji Gandhi sold 4,687 shares of the firm's stock in a transaction on Friday, January 16th. The stock was sold at an average price of $16.36, for a total value of $76,679.32. Following the completion of the sale, the chief financial officer directly owned 150,569 shares of the company's stock, valued at $2,463,308.84. This trade represents a 3.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 40,367 shares of company stock valued at $613,251. 5.50% of the stock is owned by corporate insiders.

Institutional Trading of Phreesia

Hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. increased its position in shares of Phreesia by 2.7% during the second quarter. Raymond James Financial Inc. now owns 14,049 shares of the company's stock valued at $400,000 after acquiring an additional 375 shares during the last quarter. Diversified Trust Co grew its position in shares of Phreesia by 1.7% in the 3rd quarter. Diversified Trust Co now owns 45,822 shares of the company's stock valued at $1,078,000 after buying an additional 780 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Phreesia by 1.3% during the third quarter. Alliancebernstein L.P. now owns 62,712 shares of the company's stock worth $1,475,000 after purchasing an additional 812 shares in the last quarter. Van ECK Associates Corp increased its position in Phreesia by 78.7% during the fourth quarter. Van ECK Associates Corp now owns 2,502 shares of the company's stock worth $42,000 after buying an additional 1,102 shares during the period. Finally, Arizona State Retirement System increased its holdings in shares of Phreesia by 8.1% in the 3rd quarter. Arizona State Retirement System now owns 17,608 shares of the company's stock valued at $414,000 after acquiring an additional 1,313 shares during the period. 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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