Phreesia, Inc. (NYSE:PHR) Receives $32.27 Consensus Target Price from Brokerages

Key Points

• Phreesia, Inc. has received a consensus rating of "Buy" from eleven research firms, with an average 1-year price target of $32.27.
• The company's recent quarterly earnings surpassed expectations, reporting $115.94 million in revenue and an EPS of ($0.07), which was better than the consensus estimate.
• Institutional investors now hold 92.10% of Phreesia's stock, with notable increases in holdings from various investment firms.

Shares of Phreesia, Inc. (NYSE:PHR - Get Free Report) have been given an average recommendation of "Buy" by the eleven brokerages that are currently covering the stock, MarketBeat Ratings reports. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $32.2727.

A number of equities research analysts recently weighed in on the company. Citigroup reaffirmed a "buy" rating on shares of Phreesia in a research report on Wednesday, May 28th. DA Davidson raised Phreesia to a "strong-buy" rating in a research report on Tuesday, July 22nd. Truist Financial upped 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 raised Phreesia from a "hold" rating to a "buy" rating in a research report on Sunday, June 1st. Finally, KeyCorp upped 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.

Phreesia Stock Down 2.5%

Shares of PHR traded down $0.69 during trading hours on Monday, hitting $26.42. The company had a trading volume of 396,481 shares, compared to its average volume of 507,796. Phreesia has a one year low of $17.07 and a one year high of $30.53. The company's fifty day moving average price is $27.01 and its two-hundred day moving average price is $26.41. The company has a market capitalization of $1.57 billion, a PE ratio of -35.74 and a beta of 0.71. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.02.

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

Insider Activity

In related news, Director Mark Douglas Smith sold 7,000 shares of the firm's 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 sale, the director directly owned 37,353 shares of the company's stock, valued at $1,083,237. This trade represents a 15.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lisa Egbuonu-Davis sold 2,802 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $609,763.79. This trade represents a 11.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 53,804 shares of company stock valued at $1,510,733 over the last 90 days. Company insiders own 5.50% of the company's stock.

Institutional Trading of Phreesia

Institutional investors and hedge funds have recently made changes to their positions in the business. Invesco Ltd. boosted its stake in shares of Phreesia by 0.9% in the fourth quarter. Invesco Ltd. now owns 40,249 shares of the company's stock worth $1,013,000 after acquiring an additional 357 shares during the last quarter. Diversified Trust Co boosted its stake in shares of Phreesia by 1.0% in the second quarter. Diversified Trust Co now owns 45,042 shares of the company's stock worth $1,282,000 after acquiring an additional 426 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Phreesia by 12.1% in the fourth quarter. NewEdge Advisors LLC now owns 4,256 shares of the company's stock worth $107,000 after acquiring an additional 459 shares during the last quarter. Arcadia Investment Management Corp MI boosted its stake in shares of Phreesia by 0.7% in the first quarter. Arcadia Investment Management Corp MI now owns 92,770 shares of the company's stock worth $2,371,000 after acquiring an additional 615 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Phreesia by 9.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 8,803 shares of the company's stock worth $251,000 after acquiring an additional 792 shares during the last quarter. 92.10% of the stock is currently owned by hedge funds and other institutional investors.

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.