Phreesia (NYSE:PHR) Stock Price Expected to Rise, Truist Financial Analyst Says

Phreesia (NYSE:PHR - Free Report) had its target price increased by Truist Financial from $34.00 to $35.00 in a report published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts also recently issued research reports about the stock. Piper Sandler reissued an "overweight" rating and issued a $33.00 price objective (up previously 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 price objective on shares of Phreesia in a research report on Thursday, March 13th. Canaccord Genuity Group decreased their price objective on shares of Phreesia from $35.00 to $34.00 and set a "buy" rating for the company in a research report on Thursday. Citigroup reissued a "buy" rating on shares of Phreesia in a research report on Wednesday. Finally, 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 report on Wednesday, April 16th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $31.33.

Phreesia Stock Up 0.5%

PHR stock traded up $0.12 during midday trading on Thursday, hitting $24.55. The company's stock had a trading volume of 672,417 shares, compared to its average volume of 446,701. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.74 and a quick ratio of 1.74. Phreesia has a twelve month low of $17.07 and a twelve month high of $30.53. The company's fifty day moving average price is $24.80 and its 200 day moving average price is $25.26. The stock has a market capitalization of $1.46 billion, a P/E ratio of -16.70 and a beta of 0.74.

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

Insider Transactions at Phreesia

In other news, General Counsel Allison C. Hoffman sold 3,496 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were 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 approximately $3,522,872.88. This represents a 2.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Balaji Gandhi sold 8,045 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer now owns 108,411 shares of the company's stock, valued at approximately $2,585,602.35. This represents a 6.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,474 shares of company stock valued at $1,023,208. Company insiders own 5.50% of the company's stock.

Hedge Funds Weigh In On Phreesia

A number of institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its position in Phreesia by 3.8% during the 1st quarter. Rhumbline Advisers now owns 86,844 shares of the company's stock worth $2,220,000 after purchasing an additional 3,213 shares in the last quarter. Strs Ohio acquired a new position in Phreesia during the 1st quarter worth approximately $271,000. Acadian Asset Management LLC increased its position in Phreesia by 105.2% during the 1st quarter. Acadian Asset Management LLC now owns 225,317 shares of the company's stock worth $5,754,000 after purchasing an additional 115,527 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Phreesia by 108.7% during the 1st 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 in the last quarter. Finally, Caxton Associates LLP acquired a new position in Phreesia during the 1st quarter worth approximately $316,000. 92.10% of the stock is currently owned by institutional investors and hedge funds.

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.