Phreesia (NYSE:PHR) Downgraded to "Hold" Rating by Wall Street Zen

Wall Street Zen lowered shares of Phreesia (NYSE:PHR - Free Report) from a buy rating to a hold rating in a report issued on Saturday morning.

PHR has been the subject of several other research reports. Piper Sandler reiterated an "overweight" rating and issued a $33.00 price target (up previously from $31.00) on shares of Phreesia in a research report on Wednesday, January 29th. Needham & Company LLC restated a "buy" rating and set a $29.00 price target on shares of Phreesia in a research note on Thursday, March 13th. DA Davidson dropped their price objective on shares of Phreesia from $36.00 to $34.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Canaccord Genuity Group increased their price target on shares of Phreesia from $34.00 to $35.00 and gave the stock a "buy" rating in a report on Thursday, March 13th. Finally, KeyCorp reduced their price objective on shares of Phreesia from $30.00 to $28.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $31.33.

Phreesia Trading Down 5.4%

NYSE:PHR traded down $1.35 on Friday, hitting $23.60. The stock had a trading volume of 752,889 shares, compared to its average volume of 442,771. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -16.03 and a beta of 0.74. The company has a fifty day moving average price of $25.03 and a two-hundred day moving average price of $25.23. Phreesia has a 1-year low of $17.07 and a 1-year high of $30.53. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.04.

Phreesia (NYSE:PHR - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.13) by $0.06. Phreesia had a negative net margin of 20.43% and a negative return on equity of 32.78%. During the same period in the prior year, the company earned ($0.05) earnings per share. The firm's revenue was up 14.5% compared to the same quarter last year. Equities research analysts expect that Phreesia will post -1.1 earnings per share for the current fiscal year.

Insider Activity at Phreesia

In other Phreesia news, General Counsel Allison C. Hoffman sold 1,213 shares of the business's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $23.81, for a total value of $28,881.53. Following the transaction, the general counsel now owns 137,921 shares in the company, valued at $3,283,899.01. The trade was a 0.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Balaji Gandhi sold 8,045 shares of the company's stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $23.85, for a total value of $191,873.25. Following the completion of the transaction, the chief financial officer now directly owns 108,411 shares in the company, valued at approximately $2,585,602.35. The trade was a 6.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,474 shares of company stock valued at $1,023,208 over the last quarter. Insiders own 5.80% of the company's stock.

Institutional Investors Weigh In On Phreesia

A number of institutional investors have recently modified their holdings of PHR. Acadian Asset Management LLC grew its holdings in Phreesia by 105.2% in the 1st quarter. Acadian Asset Management LLC now owns 225,317 shares of the company's stock worth $5,754,000 after buying an additional 115,527 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in 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 worth $67,606,000 after buying an additional 1,377,904 shares in the last quarter. Caxton Associates LLP purchased a new position in Phreesia in the first quarter valued at about $316,000. Goldman Sachs Group Inc. increased its holdings in Phreesia by 0.4% in the first quarter. Goldman Sachs Group Inc. now owns 600,012 shares of the company's stock worth $15,336,000 after buying an additional 2,402 shares during the last quarter. Finally, Park West Asset Management LLC increased its stake in shares of Phreesia by 111.2% in the first quarter. Park West Asset Management LLC now owns 894,501 shares of the company's stock worth $22,863,000 after purchasing an additional 470,931 shares during the period. Institutional investors and hedge funds own 92.10% of the company's stock.

Phreesia Company Profile

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.