Wall Street Zen Downgrades Phreesia (NYSE:PHR) to Hold

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

PHR has been the topic of several other reports. KeyCorp lowered their price target on shares of Phreesia from $30.00 to $28.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Piper Sandler reiterated an "overweight" rating and set a $33.00 price objective (up from $31.00) on shares of Phreesia in a research report on Wednesday, January 29th. DA Davidson reduced 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 target price on shares of Phreesia from $34.00 to $35.00 and gave the company a "buy" rating in a report on Thursday, March 13th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $29.00 target price on shares of Phreesia in a research report on Thursday, March 13th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Phreesia has a consensus rating of "Moderate Buy" and a consensus price target of $31.33.

Phreesia Stock Up 5.0%

NYSE:PHR traded up $1.17 during trading hours on Friday, reaching $24.47. The company's stock had a trading volume of 1,037,651 shares, compared to its average volume of 446,791. The company has a market cap of $1.45 billion, a price-to-earnings ratio of -16.65 and a beta of 0.74. Phreesia has a one year low of $17.07 and a one year high of $30.53. The business's 50-day moving average is $24.87 and its 200-day moving average is $25.24. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.74 and a quick ratio of 1.74.

Phreesia (NYSE:PHR - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.06. Phreesia had a negative net margin of 20.43% and a negative return on equity of 32.78%. The business had revenue of $115.94 million for the quarter, compared to analysts' expectations of $115.00 million. During the same period in the prior year, the firm earned ($0.05) earnings per share. Phreesia's revenue was up 14.5% compared to the same quarter last year. Equities research analysts predict that Phreesia will post -1.1 EPS for the current year.

Insiders Place Their Bets

In other Phreesia news, CFO Balaji Gandhi sold 8,045 shares of the company's stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $23.85, for a total value of $191,873.25. Following the sale, the chief financial officer now owns 108,411 shares in the company, valued at approximately $2,585,602.35. This represents a 6.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP David Linetsky sold 4,499 shares of the company's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $23.73, for a total value of $106,761.27. Following the completion of the sale, the senior vice president now owns 217,239 shares in the company, valued at approximately $5,155,081.47. This represents a 2.03% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,474 shares of company stock worth $1,023,208. Corporate insiders own 5.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Johnson Financial Group Inc. increased its position in shares of Phreesia by 381.3% during the 4th quarter. Johnson Financial Group Inc. now owns 1,131 shares of the company's stock worth $28,000 after purchasing an additional 896 shares during the last quarter. R Squared Ltd purchased a new position in shares of Phreesia in the 4th quarter valued at about $30,000. BankPlus Trust Department purchased a new position in shares of Phreesia in the 4th quarter valued at about $34,000. Quarry LP boosted its stake in shares of Phreesia by 210.9% in the 4th quarter. Quarry LP now owns 2,835 shares of the company's stock valued at $71,000 after buying an additional 1,923 shares during the period. Finally, KBC Group NV purchased a new stake in Phreesia during the first quarter worth approximately $74,000. 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.