Phreesia (NYSE:PHR) Trading Down 5.9% - Should You Sell?

Key Points

• Phreesia shares fell 5.9% to about $10.30 in unusually light trading, with volume down 92% from the average session.
• Analysts remain cautious: the stock has a consensus “Hold” rating and a $14.00 average price target, despite Canaccord maintaining a Buy rating with a $16 target.
• Phreesia beat quarterly revenue estimates and grew sales 10.4% year over year, but EPS of $0.03 missed expectations of $0.09. Institutional investors own 92.1% of the company’s shares.

Phreesia, Inc. (NYSE:PHR - Get Free Report)'s stock price dropped 5.9% during trading on Tuesday . The stock traded as low as $10.28 and last traded at $10.30. Approximately 119,152 shares were traded during trading, a decline of 92% from the average session volume of 1,485,985 shares. The stock had previously closed at $10.94.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PHR shares. Canaccord Genuity Group restated a "buy" rating and issued a $16.00 price objective on shares of Phreesia in a report on Thursday, September 3rd. Robert W. Baird increased their price target on Phreesia from $10.00 to $11.00 and gave the company a "neutral" rating in a research report on Friday. Piper Sandler downgraded Phreesia from an "overweight" rating to a "neutral" rating and set a $12.00 price target for the company. in a research note on Thursday, May 28th. Citigroup reiterated a "market perform" rating on shares of Phreesia in a research note on Friday. Finally, Truist Financial increased their price objective on Phreesia from $11.00 to $12.00 and gave the company a "hold" rating in a report on Thursday, May 28th. Eight investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $14.00.

Phreesia Stock Performance

The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.76 and a current ratio of 1.76. The stock's fifty day moving average price is $11.26 and its 200-day moving average price is $10.46. The company has a market capitalization of $642.42 million, a P/E ratio of 60.94 and a beta of 0.86.

Phreesia (NYSE:PHR - Get Free Report) last posted its quarterly earnings results on Wednesday, September 2nd. The company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.06). The business had revenue of $129.46 million for the quarter, compared to the consensus estimate of $129.06 million. Phreesia had a return on equity of 5.22% and a net margin of 2.06%.The company's revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.01 EPS. As a group, research analysts anticipate that Phreesia, Inc. will post 0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pale Fire Capital SE bought a new position in shares of Phreesia in the first quarter valued at about $72,481,000. BlackRock Inc. bought a new stake in shares of Phreesia during the 2nd quarter worth about $72,234,000. Granahan Investment Management LLC grew its stake in Phreesia by 73.8% in the 4th quarter. Granahan Investment Management LLC now owns 2,399,613 shares of the company's stock valued at $40,601,000 after buying an additional 1,018,987 shares during the last quarter. Prosight Management LP acquired a new position in Phreesia in the 4th quarter valued at about $16,533,000. Finally, Millennium Management LLC raised its holdings in Phreesia by 730.7% in the 3rd quarter. Millennium Management LLC now owns 1,064,132 shares of the company's stock valued at $25,028,000 after acquiring an additional 936,033 shares during the period. 92.10% of the stock is currently owned by institutional investors.

About Phreesia

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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