DA Davidson Upgrades Phreesia (NYSE:PHR) to "Strong-Buy"

Key Points

• Phreesia has received a "strong-buy" rating upgrade from DA Davidson, indicating a positive outlook for the stock.
• The company reported a quarterly profit of $0.01 per share, exceeding analysts' expectations, alongside a 14.9% increase in revenue compared to the previous year.
• Phreesia's stock has seen significant interest from institutional investors, with 92.10% of its shares currently owned by this group.

Phreesia (NYSE:PHR - Get Free Report) was upgraded by equities research analysts at DA Davidson to a "strong-buy" rating in a report issued on Monday,Zacks.com reports.

PHR has been the subject of a number of other reports. Piper Sandler raised their price target on Phreesia from $33.00 to $34.00 and gave the company an "overweight" rating in a research note on Friday, September 5th. Canaccord Genuity Group lifted their target price on Phreesia from $34.00 to $38.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Mizuho initiated coverage on Phreesia in a research note on Wednesday, August 27th. They set an "outperform" rating and a $36.00 target price for the company. Citigroup reiterated a "buy" rating on shares of Phreesia in a research note on Wednesday, May 28th. Finally, Wall Street Zen upgraded Phreesia from a "hold" rating to a "buy" rating in a research note on Sunday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $34.08.

Phreesia Stock Down 5.0%

PHR stock traded down $1.28 during mid-day trading on Monday, reaching $24.20. The company had a trading volume of 1,348,119 shares, compared to its average volume of 1,110,740. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.12 and a quick ratio of 2.12. The stock has a 50 day simple moving average of $28.02 and a two-hundred day simple moving average of $26.46. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of -57.62 and a beta of 0.72. Phreesia has a 52 week low of $17.07 and a 52 week high of $32.76.

Phreesia (NYSE:PHR - Get Free Report) last posted its quarterly earnings results on Thursday, September 4th. The company reported $0.01 earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.08. The firm had revenue of $117.26 million during the quarter, compared to the consensus estimate of $116.39 million. Phreesia had a negative return on equity of 8.75% and a negative net margin of 5.35%.The business's revenue was up 14.9% compared to the same quarter last year. During the same period last year, the company earned ($0.03) earnings per share. Phreesia has set its FY 2026 guidance at EPS. As a group, equities analysts predict that Phreesia will post -1.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Allison C. Hoffman sold 1,245 shares of the business's stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $26.89, for a total value of $33,478.05. Following the completion of the sale, the general counsel directly owned 136,978 shares in the company, valued at $3,683,338.42. The trade was a 0.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Evan Roberts sold 3,400 shares of the business's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $32.46, for a total value of $110,364.00. Following the completion of the sale, the insider owned 724,368 shares of the company's stock, valued at $23,512,985.28. This trade represents a 0.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 109,292 shares of company stock worth $3,295,323 over the last three months. 5.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Phreesia

Several institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. boosted its stake in Phreesia by 2.7% in the 2nd quarter. Raymond James Financial Inc. now owns 14,049 shares of the company's stock valued at $400,000 after purchasing an additional 375 shares during the period. Diversified Trust Co boosted its stake in Phreesia by 1.0% in the 2nd quarter. Diversified Trust Co now owns 45,042 shares of the company's stock valued at $1,282,000 after purchasing an additional 426 shares during the period. PNC Financial Services Group Inc. boosted its stake in Phreesia by 2.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 19,983 shares of the company's stock valued at $569,000 after purchasing an additional 540 shares during the period. Arcadia Investment Management Corp MI boosted its stake in Phreesia by 0.7% in the 1st quarter. Arcadia Investment Management Corp MI now owns 92,770 shares of the company's stock valued at $2,371,000 after purchasing an additional 615 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its stake in Phreesia by 9.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 8,803 shares of the company's stock valued at $251,000 after purchasing an additional 792 shares during the period. 92.10% of the stock is currently owned by institutional investors.

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.