KeyCorp Issues Positive Forecast for Phreesia (NYSE:PHR) Stock Price

Phreesia (NYSE:PHR - Free Report) had its target price lifted by KeyCorp from $28.00 to $35.00 in a research report sent to investors on Monday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

A number of other research analysts have also commented on the company. Canaccord Genuity Group lowered their price target on Phreesia from $35.00 to $34.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Wall Street Zen raised Phreesia from a "hold" rating to a "buy" rating in a report on Sunday, June 1st. DA Davidson lowered their price target on Phreesia from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Truist Financial raised their price target on Phreesia from $34.00 to $35.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Finally, Citigroup reaffirmed a "buy" rating on shares of Phreesia in a research note on Wednesday, May 28th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $32.27.

Phreesia Stock Performance

NYSE PHR traded down $0.72 during trading hours on Monday, hitting $26.32. The company had a trading volume of 229,649 shares, compared to its average volume of 452,183. Phreesia has a fifty-two week low of $17.07 and a fifty-two week high of $30.53. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.02. The business has a fifty day simple moving average of $26.49 and a 200-day simple moving average of $26.39. The firm has a market cap of $1.57 billion, a P/E ratio of -35.68 and a beta of 0.72.

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

Insider Buying and Selling

In related news, Director Lisa Egbuonu-Davis sold 2,802 shares of the stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $27.67, for a total value of $77,531.34. Following the completion of the transaction, the director owned 22,037 shares in the company, valued at $609,763.79. This trade represents a 11.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael Weintraub sold 7,431 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $27.51, for a total value of $204,426.81. Following the completion of the transaction, the director owned 143,039 shares of the company's stock, valued at $3,935,002.89. This trade represents a 4.94% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,046 shares of company stock worth $1,297,218. Company insiders own 5.50% of the company's stock.

Hedge Funds Weigh In On Phreesia

A number of hedge funds and other institutional investors have recently modified their holdings of PHR. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Phreesia by 108.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,644,988 shares of the company's stock valued at $67,606,000 after purchasing an additional 1,377,904 shares during the period. American Century Companies Inc. boosted its position in Phreesia by 3,741.9% during the 1st quarter. American Century Companies Inc. now owns 983,440 shares of the company's stock worth $25,137,000 after acquiring an additional 957,842 shares during the period. Deerfield Management Company L.P. Series C boosted its position in Phreesia by 133.6% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 1,271,832 shares of the company's stock worth $31,999,000 after acquiring an additional 727,384 shares during the period. Greenhouse Funds LLLP boosted its position in Phreesia by 27.9% during the 4th quarter. Greenhouse Funds LLLP now owns 2,873,892 shares of the company's stock worth $72,307,000 after acquiring an additional 626,579 shares during the period. Finally, Nuveen LLC acquired a new stake in Phreesia during the 1st quarter worth about $14,206,000. Institutional investors and hedge funds own 92.10% of the company's stock.

About Phreesia

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.