Phreesia, Inc. (NYSE:PHR) Receives Average Rating of "Buy" 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.

Phreesia, Inc. (NYSE:PHR - Get Free Report) has been given a consensus recommendation of "Buy" by the eleven research firms that are currently covering the stock, MarketBeat.com reports. Ten analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $32.2727.

A number of equities analysts have weighed in on the stock. KeyCorp increased their target price on shares of Phreesia from $28.00 to $35.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Canaccord Genuity Group lowered their price objective on shares of Phreesia from $35.00 to $34.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. DA Davidson upgraded shares of Phreesia to a "strong-buy" rating in a report on Tuesday, July 22nd. Citigroup restated a "buy" rating on shares of Phreesia in a report on Wednesday, May 28th. Finally, Truist Financial boosted their target price on Phreesia from $34.00 to $35.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th.

Phreesia Stock Down 0.8%

NYSE PHR traded down $0.22 during trading hours on Monday, hitting $27.06. The company's stock had a trading volume of 445,309 shares, compared to its average volume of 449,906. 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 52 week low of $17.07 and a 52 week high of $30.53. The company's 50-day simple moving average is $26.89 and its two-hundred day simple moving average is $26.41.

Phreesia (NYSE:PHR - Get Free Report) last posted its earnings results 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 analyst estimates of $115.00 million. During the same quarter last year, the company earned ($0.05) earnings per share. The company's revenue for the quarter was up 14.5% on a year-over-year basis. Equities analysts expect that Phreesia will post -1.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP David Linetsky sold 23,729 shares of the firm's 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 completion of the sale, the senior vice president owned 193,510 shares in the company, valued at approximately $5,515,035. This trade represents a 10.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Evan Roberts sold 1,892 shares of the firm's stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $26.89, for a total transaction of $50,875.88. Following the completion of the sale, the chief operating officer directly owned 772,915 shares of the company's stock, valued at approximately $20,783,684.35. The trade was a 0.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 53,804 shares of company stock worth $1,510,733 over the last ninety days. 5.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Phreesia

Several institutional investors have recently made changes to their positions in PHR. Vanguard Group Inc. increased its position in shares of Phreesia by 2.4% during the first quarter. Vanguard Group Inc. now owns 4,936,515 shares of the company's stock worth $126,177,000 after purchasing an additional 113,405 shares in the last quarter. Greenhouse Funds LLLP grew its stake in Phreesia by 2.9% during the 1st quarter. Greenhouse Funds LLLP now owns 2,956,910 shares of the company's stock worth $75,579,000 after buying an additional 83,018 shares during the last quarter. Champlain Investment Partners LLC increased its position in Phreesia by 20.0% during the 1st quarter. Champlain Investment Partners LLC now owns 2,946,489 shares of the company's stock valued at $75,312,000 after buying an additional 490,340 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in 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 buying an additional 1,377,904 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in Phreesia by 0.8% in the fourth quarter. Franklin Resources Inc. now owns 1,509,617 shares of the company's stock valued at $37,982,000 after buying an additional 11,986 shares during the last quarter. Hedge funds and other institutional investors 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.