Phreesia (NYSE:PHR) Stock Price Down 8.4% - Should You Sell?

Key Points

• Phreesia shares fell 8.4% to about $10.20 in light trading, bringing the stock below its 200-day moving average and valuing the company at approximately $645 million.
• Analyst sentiment is mixed: MarketBeat reports an average rating of “Hold” and a consensus price target of $16.65, while recent targets range from $9 to $14 and include rating downgrades.
• The company recently exceeded quarterly earnings and revenue expectations, reporting $0.05 in EPS and $130.94 million in revenue, with revenue up 12.9% year over year. Institutional investors own a substantial 92.1% of outstanding shares.

Shares of Phreesia, Inc. (NYSE:PHR - Get Free Report) fell 8.4% during trading on Thursday . The stock traded as low as $10.17 and last traded at $10.20. Approximately 161,728 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 1,614,601 shares. The stock had previously closed at $11.14.

Analysts Set New Price Targets

Several research firms have commented on PHR. Citigroup reaffirmed a "market perform" rating on shares of Phreesia in a research note on Friday, May 29th. Weiss Ratings raised Phreesia from a "sell (d)" rating to a "sell (d+)" rating in a research report on Monday, July 20th. DA Davidson reissued a "buy" rating and issued a $14.00 price target on shares of Phreesia in a research report on Thursday, May 28th. Wells Fargo & Company restated an "equal weight" rating and issued a $9.00 target price (down from $15.00) on shares of Phreesia in a research note on Wednesday, May 20th. Finally, Piper Sandler lowered shares of Phreesia from an "overweight" rating to a "neutral" rating and set a $12.00 price objective for the company. in a research report on Thursday, May 28th. Nine research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Phreesia has an average rating of "Hold" and a consensus target price of $16.65.

Phreesia Stock Performance

The firm has a fifty day simple moving average of $9.97 and a 200 day simple moving average of $10.97. The company has a market capitalization of $644.68 million, a price-to-earnings ratio of 69.57 and a beta of 0.87. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.76 and a quick ratio of 1.76.

Phreesia (NYSE:PHR - Get Free Report) last released its earnings results on Wednesday, May 27th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.03. The business had revenue of $130.94 million during the quarter, compared to analysts' expectations of $130.08 million. Phreesia had a net margin of 1.85% and a return on equity of 5.13%. The company's quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.07) earnings per share. On average, analysts anticipate that Phreesia, Inc. will post 0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada increased its stake in Phreesia by 208.8% during the first quarter. Royal Bank of Canada now owns 24,119 shares of the company's stock worth $617,000 after acquiring an additional 16,309 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Phreesia by 471.2% during the first quarter. AQR Capital Management LLC now owns 160,032 shares of the company's stock worth $4,090,000 after buying an additional 132,015 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Phreesia by 3.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,557 shares of the company's stock valued at $1,599,000 after buying an additional 2,158 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Phreesia by 262.7% during the 1st quarter. NewEdge Advisors LLC now owns 15,437 shares of the company's stock worth $395,000 after acquiring an additional 11,181 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Phreesia by 0.4% during the 1st 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. Institutional investors and hedge funds own 92.10% of the company's stock.

Phreesia Company Profile

Phreesia, Inc NYSE: PHR is a provider of patient intake management solutions designed to streamline front-office workflows for healthcare organizations. The company's cloud-based platform digitizes patient registration, appointment scheduling, insurance verification, consent documentation and payment collection through touchscreen kiosks, tablets and mobile devices. By replacing paper forms and manual processes, Phreesia enhances data accuracy, reduces administrative burden and improves the patient experience.

Founded in 2000 by Chaim Indig and headquartered in Burlington, Massachusetts, Phreesia offers a modular software suite that integrates with electronic medical record (EMR) and practice management systems.

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