Phreesia (NYSE:PHR) Earns Outperform Rating from Analysts at Mizuho

Key Points

• Mizuho initiated coverage on Phreesia with an "outperform" rating and a price target of $36.00, indicating a potential upside of 16.71% from its current price.
• Phreesia reported a revenue of $115.94 million in its last quarter, exceeding analysts' expectations, while its year-over-year revenue increased by 14.5%.
• 92.10% of Phreesia's stock is currently owned by institutional investors and hedge funds, reflecting strong institutional confidence in the company's growth potential.

Mizuho began coverage on shares of Phreesia (NYSE:PHR - Free Report) in a research note issued to investors on Wednesday, MarketBeat reports. The brokerage issued an outperform rating and a $36.00 price target on the stock.

Other equities analysts also recently issued reports about the company. Citigroup reiterated a "buy" rating on shares of Phreesia in a research report on Wednesday, May 28th. KeyCorp increased their target price on Phreesia from $28.00 to $35.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Truist Financial increased their target price on Phreesia from $34.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Wall Street Zen upgraded Phreesia from a "hold" rating to a "buy" rating in a research report on Sunday, June 1st. Finally, DA Davidson upgraded Phreesia to a "strong-buy" rating in a research report on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $32.58.

Phreesia Price Performance

Shares of PHR stock traded down $0.88 on Wednesday, hitting $31.67. 695,742 shares of the company's stock were exchanged, compared to its average volume of 779,639. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.95 and a quick ratio of 1.95. Phreesia has a 12 month low of $17.07 and a 12 month high of $32.76. The stock has a market cap of $1.88 billion, a P/E ratio of -42.79 and a beta of 0.72. The company has a 50 day moving average of $28.06 and a 200 day moving average of $26.48.

Insider Activity at Phreesia

In related news, insider Evan Roberts sold 45,147 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $32.02, for a total transaction of $1,445,606.94. Following the completion of the sale, the insider owned 727,768 shares of the company's stock, valued at $23,303,131.36. This trade represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lisa Egbuonu-Davis sold 2,802 shares of the firm's stock in a transaction that occurred 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 sale, the director directly owned 22,037 shares of the company's stock, valued at $609,763.79. This represents a 11.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold 119,874 shares of company stock valued at $3,587,618 over the last ninety days. Insiders own 5.50% of the company's stock.

Institutional Investors Weigh In On Phreesia

A number of hedge funds have recently added to or reduced their stakes in PHR. Vanguard Group Inc. lifted its holdings in shares of Phreesia by 2.4% in the first quarter. Vanguard Group Inc. now owns 4,936,515 shares of the company's stock valued at $126,177,000 after purchasing an additional 113,405 shares in the last quarter. Greenhouse Funds LLLP lifted its holdings in shares of Phreesia by 12.5% in the second quarter. Greenhouse Funds LLLP now owns 3,325,262 shares of the company's stock valued at $94,637,000 after purchasing an additional 368,352 shares in the last quarter. Champlain Investment Partners LLC lifted its holdings in shares of Phreesia by 20.0% in the first quarter. Champlain Investment Partners LLC now owns 2,946,489 shares of the company's stock valued at $75,312,000 after purchasing an additional 490,340 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of 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 valued at $67,606,000 after purchasing an additional 1,377,904 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Phreesia by 0.6% in the second quarter. Franklin Resources Inc. now owns 1,524,251 shares of the company's stock valued at $43,380,000 after purchasing an additional 9,057 shares in the last quarter. 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.