Robert W. Baird Cuts Phreesia (NYSE:PHR) Price Target to $30.00

Phreesia (NYSE:PHR) had its target price decreased by stock analysts at Robert W. Baird from $34.00 to $30.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 24.22% from the company’s previous close.

A number of other analysts also recently issued reports on PHR. Needham & Company LLC reiterated a “buy” rating and issued a $29.00 price target on shares of Phreesia in a report on Tuesday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $23.00 target price on shares of Phreesia in a research report on Friday, September 27th. DA Davidson restated a “buy” rating and set a $32.00 price target on shares of Phreesia in a report on Thursday, September 5th. Canaccord Genuity Group reissued a “buy” rating and issued a $34.00 target price on shares of Phreesia in a report on Thursday, September 5th. Finally, Truist Financial upped their price target on shares of Phreesia from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, September 6th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.08.

Phreesia Price Performance

Shares of Phreesia stock opened at $24.15 on Wednesday. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -13.42 and a beta of 0.98. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock’s 50-day simple moving average is $20.26 and its 200-day simple moving average is $21.75. Phreesia has a 52 week low of $17.07 and a 52 week high of $29.16.

Phreesia (NYSE:PHR) last posted its quarterly earnings results on Monday, December 9th. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.04. The business had revenue of $106.80 million during the quarter, compared to the consensus estimate of $106.33 million. Phreesia had a negative return on equity of 39.34% and a negative net margin of 25.73%. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.58) EPS. As a group, analysts expect that Phreesia will post -1.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Phreesia

In other news, insider Yvonne Hui sold 2,791 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $20.92, for a total value of $58,387.72. Following the transaction, the insider now directly owns 27,228 shares in the company, valued at approximately $569,609.76. This represents a 9.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Allison C. Hoffman sold 1,212 shares of Phreesia stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $21.03, for a total transaction of $25,488.36. Following the sale, the general counsel now owns 119,791 shares of the company’s stock, valued at $2,519,204.73. The trade was a 1.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 53,569 shares of company stock worth $1,123,014 over the last 90 days. Company insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PHR. Franklin Resources Inc. lifted its holdings in shares of Phreesia by 3.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,497,631 shares of the company’s stock worth $31,495,000 after buying an additional 42,973 shares during the period. Geode Capital Management LLC lifted its stake in Phreesia by 4.7% in the third quarter. Geode Capital Management LLC now owns 1,245,797 shares of the company’s stock worth $28,397,000 after acquiring an additional 55,934 shares during the period. M&T Bank Corp grew its holdings in Phreesia by 4.6% during the 3rd quarter. M&T Bank Corp now owns 35,127 shares of the company’s stock worth $801,000 after acquiring an additional 1,535 shares in the last quarter. Barclays PLC raised its holdings in shares of Phreesia by 83.6% in the 3rd quarter. Barclays PLC now owns 94,929 shares of the company’s stock valued at $2,163,000 after purchasing an additional 43,225 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Phreesia in the 3rd quarter worth approximately $247,000. 92.10% of the stock is currently owned by hedge funds and other institutional investors.

Phreesia Company Profile

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.