Phreesia (NYSE:PHR) Shares Up 15.1% – Time to Buy?

Phreesia, Inc. (NYSE:PHR) shares traded up 15.1% on Wednesday . The company traded as high as $21.44 and last traded at $21.40. 416,739 shares were traded during mid-day trading, a decline of 7% from the average session volume of 446,024 shares. The stock had previously closed at $18.60.

Analyst Ratings Changes

Several equities analysts recently weighed in on PHR shares. Truist Financial raised their price target on shares of Phreesia from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Canaccord Genuity Group reissued a “buy” rating and set a $34.00 target price on shares of Phreesia in a research report on Thursday, September 5th. Robert W. Baird upped their target price on Phreesia from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, September 6th. KeyCorp dropped their price target on Phreesia from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Finally, Needham & Company LLC restated a “buy” rating and issued a $29.00 price objective on shares of Phreesia in a research note on Thursday, September 5th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $29.42.

Phreesia Price Performance

The stock has a market capitalization of $1.22 billion, a PE ratio of -11.77 and a beta of 0.94. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The firm’s 50 day simple moving average is $21.83 and its 200 day simple moving average is $22.04.

Phreesia (NYSE:PHR) last issued its earnings results on Wednesday, September 4th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.06. Phreesia had a negative net margin of 25.73% and a negative return on equity of 39.34%. The company had revenue of $102.12 million for the quarter, compared to analysts’ expectations of $101.76 million. As a group, equities analysts forecast that Phreesia, Inc. will post -1.23 EPS for the current fiscal year.

Insider Activity at Phreesia

In related news, insider Yvonne Hui sold 2,791 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $20.92, for a total transaction of $58,387.72. Following the transaction, the insider now owns 27,228 shares in the company, valued at $569,609.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Yvonne Hui sold 2,791 shares of Phreesia stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $20.92, for a total value of $58,387.72. Following the sale, the insider now owns 27,228 shares in the company, valued at $569,609.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Allison C. Hoffman sold 14,110 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $26.03, for a total transaction of $367,283.30. Following the completion of the sale, the general counsel now directly owns 121,003 shares of the company’s stock, valued at approximately $3,149,708.09. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,107 shares of company stock worth $1,035,226 in the last three months. 5.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Phreesia

A number of institutional investors have recently added to or reduced their stakes in the company. Capital International Investors increased its stake in shares of Phreesia by 221.1% in the 1st quarter. Capital International Investors now owns 2,593,063 shares of the company’s stock worth $62,052,000 after acquiring an additional 1,785,463 shares in the last quarter. Champlain Investment Partners LLC purchased a new position in shares of Phreesia during the first quarter valued at approximately $29,941,000. Blair William & Co. IL lifted its holdings in shares of Phreesia by 42.6% during the first quarter. Blair William & Co. IL now owns 752,700 shares of the company’s stock valued at $18,012,000 after purchasing an additional 224,950 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new stake in shares of Phreesia in the 2nd quarter worth approximately $4,078,000. Finally, Sei Investments Co. grew its stake in shares of Phreesia by 135.3% in the 2nd quarter. Sei Investments Co. now owns 165,327 shares of the company’s stock worth $3,505,000 after buying an additional 95,058 shares during the last quarter. Institutional investors own 92.10% of the company’s stock.

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.