Wells Fargo & Company Issues Pessimistic Forecast for Phreesia (NYSE:PHR) Stock Price

Key Points

• Wells Fargo & Company cut its price target on Phreesia from $30 to $25 while keeping an "overweight" rating, implying about a 112.53% upside from the current share price (~$11.76).
• Broader analyst sentiment remains cautiously positive—a consensus "Moderate Buy" with an average target of $28.65 (17 Buys, 1 Hold, 1 Sell)—while the stock trades at a market cap of about $709M, insiders have sold ~66,529 shares in the past 90 days, and institutional ownership is ~92.1%.

Phreesia (NYSE:PHR - Get Free Report) had its price target decreased by equities research analysts at Wells Fargo & Company from $30.00 to $25.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price target would suggest a potential upside of 112.53% from the stock's current price.

Other analysts have also issued research reports about the company. Robert W. Baird decreased their price target on Phreesia from $31.00 to $25.00 and set an "outperform" rating on the stock in a report on Wednesday, December 10th. Royal Bank Of Canada began coverage on shares of Phreesia in a research note on Friday, January 9th. They issued a "moderate buy" rating and a $26.00 target price on the stock. Zacks Research lowered shares of Phreesia from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 6th. Mizuho cut their price target on shares of Phreesia from $22.00 to $19.00 and set an "outperform" rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Phreesia from $29.00 to $24.00 and set an "overweight" rating for the company in a research note on Friday, February 20th. Seventeen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $28.65.

Phreesia Price Performance

PHR traded up $0.48 on Thursday, hitting $11.76. 158,011 shares of the company's stock traded hands, compared to its average volume of 1,609,031. The company's 50 day simple moving average is $12.81 and its 200-day simple moving average is $18.05. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.01. Phreesia has a one year low of $10.75 and a one year high of $32.76. The firm has a market cap of $709.19 million, a price-to-earnings ratio of -117.24 and a beta of 0.67.

Insider Activity at Phreesia

In related news, insider David Linetsky sold 6,106 shares of the business's stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $17.01, for a total value of $103,863.06. Following the completion of the sale, the insider owned 231,723 shares of the company's stock, valued at approximately $3,941,608.23. The trade was a 2.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Amy Beth Vanduyn sold 2,602 shares of Phreesia stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $17.01, for a total transaction of $44,260.02. Following the completion of the sale, the senior vice president owned 160,238 shares in the company, valued at approximately $2,725,648.38. This trade represents a 1.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 66,529 shares of company stock valued at $1,080,454 over the last ninety days. Corporate insiders own 5.50% of the company's stock.

Institutional Trading of Phreesia

Institutional investors and hedge funds have recently bought and sold shares of the stock. Loomis Sayles & Co. L P purchased a new position in shares of Phreesia during the second quarter worth about $34,162,000. Granahan Investment Management LLC boosted its position in shares of Phreesia by 73.8% in the 4th quarter. Granahan Investment Management LLC now owns 2,399,613 shares of the company's stock worth $40,601,000 after buying an additional 1,018,987 shares in the last quarter. Prosight Management LP purchased a new position in Phreesia during the 4th quarter valued at about $16,533,000. Millennium Management LLC raised its position in Phreesia by 730.7% during the third quarter. Millennium Management LLC now owns 1,064,132 shares of the company's stock worth $25,028,000 after acquiring an additional 936,033 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Phreesia in the fourth quarter valued at about $15,213,000. 92.10% of the stock is currently owned by hedge funds and other 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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