Phreesia (NYSE:PHR) Shares Gap Down - Should You Sell?

Phreesia, Inc. (NYSE:PHR - Get Free Report)'s share price gapped down prior to trading on Wednesday . The stock had previously closed at $24.95, but opened at $24.34. Phreesia shares last traded at $23.24, with a volume of 151,686 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Truist Financial increased their price objective on shares of Phreesia from $34.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday. Citigroup reissued a "buy" rating on shares of Phreesia in a research report on Wednesday. DA Davidson lowered their price objective on Phreesia from $36.00 to $34.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. KeyCorp cut their target price on Phreesia from $30.00 to $28.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Wall Street Zen upgraded Phreesia from a "hold" rating to a "buy" rating in a report on Sunday. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $31.64.

Phreesia Trading Up 0.5%

The stock has a 50 day moving average of $24.80 and a 200-day moving average of $25.28. The company has a market capitalization of $1.46 billion, a P/E ratio of -16.70 and a beta of 0.74. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.04.

Phreesia (NYSE:PHR - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $115.94 million during the quarter, compared to analysts' expectations of $115.00 million. Phreesia had a negative net margin of 20.43% and a negative return on equity of 32.78%. The company's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.05) earnings per share. On average, research analysts predict that Phreesia, Inc. will post -1.1 EPS for the current year.

Insider Transactions at Phreesia

In related news, SVP David Linetsky sold 3,944 shares of the company's stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $23.85, for a total transaction of $94,064.40. Following the sale, the senior vice president now owns 221,738 shares of the company's stock, valued at $5,288,451.30. This represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Balaji Gandhi sold 8,045 shares of Phreesia stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $23.85, for a total transaction of $191,873.25. Following the completion of the transaction, the chief financial officer now directly owns 108,411 shares of the company's stock, valued at $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 sold a total of 42,474 shares of company stock valued at $1,023,208 over the last 90 days. Company insiders own 5.50% of the company's stock.

Hedge Funds Weigh In On Phreesia

A number of institutional investors and hedge funds have recently modified their holdings of PHR. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew 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 worth $67,606,000 after purchasing an additional 1,377,904 shares during the last quarter. American Century Companies Inc. increased its position in shares of Phreesia by 3,741.9% during the first quarter. American Century Companies Inc. now owns 983,440 shares of the company's stock worth $25,137,000 after acquiring an additional 957,842 shares during the period. Deerfield Management Company L.P. Series C raised its stake in shares of Phreesia by 133.6% during the fourth quarter. Deerfield Management Company L.P. Series C now owns 1,271,832 shares of the company's stock valued at $31,999,000 after acquiring an additional 727,384 shares in the last quarter. Greenhouse Funds LLLP boosted its holdings in shares of Phreesia by 27.9% in the fourth quarter. Greenhouse Funds LLLP now owns 2,873,892 shares of the company's stock valued at $72,307,000 after purchasing an additional 626,579 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Phreesia in the first quarter valued at approximately $14,206,000. Hedge funds and other institutional investors 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.