Truist Financial Forecasts Strong Price Appreciation for Phreesia (NYSE:PHR) Stock

Phreesia (NYSE:PHR - Free Report) had its price target hoisted by Truist Financial from $34.00 to $35.00 in a research note issued to investors on Thursday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other equities analysts have also issued reports about the stock. KeyCorp reduced their target price on shares of Phreesia from $30.00 to $28.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Piper Sandler reaffirmed 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. Needham & Company LLC reissued a "buy" rating and issued a $29.00 target price on shares of Phreesia in a research report on Thursday, March 13th. Wall Street Zen downgraded Phreesia from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, DA Davidson decreased their price target on shares of Phreesia from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, Phreesia has a consensus rating of "Buy" and an average target price of $31.64.

Phreesia Trading Up 1.5%

NYSE:PHR traded up $0.37 on Thursday, reaching $24.86. The company's stock had a trading volume of 518,132 shares, compared to its average volume of 441,323. The firm has a market cap of $1.48 billion, a PE ratio of -16.91 and a beta of 0.74. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.74 and a current ratio of 1.74. The business's 50-day moving average price is $24.80 and its two-hundred day moving average price is $25.31. Phreesia has a 1-year low of $17.07 and a 1-year high of $30.53.

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

Insiders Place Their Bets

In other Phreesia news, General Counsel Allison C. Hoffman sold 3,496 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $25.32, for a total transaction of $88,518.72. Following the completion of the sale, the general counsel now owns 139,134 shares of the company's stock, valued at $3,522,872.88. This trade represents a 2.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Yvonne Hui sold 1,878 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 $44,790.30. Following the transaction, the insider now directly owns 28,449 shares of the company's stock, valued at approximately $678,508.65. This trade represents a 6.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,474 shares of company stock valued at $1,023,208. 5.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Phreesia

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Phreesia by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 4,936,515 shares of the company's stock worth $126,177,000 after buying an additional 113,405 shares during the period. Greenhouse Funds LLLP boosted its holdings in shares of Phreesia by 2.9% during the first quarter. Greenhouse Funds LLLP now owns 2,956,910 shares of the company's stock worth $75,579,000 after acquiring an additional 83,018 shares during the period. Champlain Investment Partners LLC grew its position in shares of Phreesia by 20.0% in the first quarter. Champlain Investment Partners LLC now owns 2,946,489 shares of the company's stock valued at $75,312,000 after purchasing an additional 490,340 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Phreesia by 108.7% during 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 period. Finally, Franklin Resources Inc. lifted its holdings in Phreesia by 0.8% during the 4th quarter. Franklin Resources Inc. now owns 1,509,617 shares of the company's stock worth $37,982,000 after purchasing an additional 11,986 shares during the last quarter. 92.10% of the stock is owned by institutional investors.

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.