Phreesia (NYSE:PHR) Shares Gap Up After Analyst Upgrade

Shares of Phreesia, Inc. (NYSE:PHR) gapped up before the market opened on Wednesday after Citigroup raised their price target on the stock from $31.00 to $35.00. The stock had previously closed at $26.98, but opened at $27.67. Citigroup currently has a buy rating on the stock. Phreesia shares last traded at $27.30, with a volume of 42,629 shares.

PHR has been the subject of several other research reports. Truist Financial raised their price target on Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $29.00 target price on shares of Phreesia in a report on Friday. Robert W. Baird lowered their price target on shares of Phreesia from $34.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. Royal Bank of Canada upgraded Phreesia from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $24.00 to $32.00 in a report on Wednesday. Finally, KeyCorp upped their target price on Phreesia from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Wednesday. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $31.00.

Insiders Place Their Bets

In related news, CEO Chaim Indig sold 3,089 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $21.03, for a total value of $64,961.67. Following the completion of the sale, the chief executive officer now directly owns 1,220,647 shares of the company’s stock, valued at $25,670,206.41. The trade was a 0.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Evan Roberts sold 2,873 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $26.61, for a total value of $76,450.53. Following the completion of the transaction, the chief operating officer now owns 779,993 shares in the company, valued at approximately $20,755,613.73. The trade was a 0.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,703 shares of company stock worth $2,343,541. 5.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. International Assets Investment Management LLC raised its position in Phreesia by 2,179.7% in the third quarter. International Assets Investment Management LLC now owns 1,459 shares of the company’s stock worth $33,000 after acquiring an additional 1,395 shares during the period. Lombard Odier Asset Management USA Corp bought a new stake in shares of Phreesia in the 2nd quarter worth approximately $202,000. Point72 DIFC Ltd purchased a new position in Phreesia in the second quarter valued at approximately $209,000. XTX Topco Ltd purchased a new stake in Phreesia in the third quarter worth $247,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Phreesia in the second quarter valued at $301,000. Institutional investors own 92.10% of the company’s stock.

Phreesia Price Performance

The company has a current ratio of 1.74, a quick ratio of 1.77 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.55 billion, a PE ratio of -18.20 and a beta of 0.94. The business has a 50-day moving average price of $22.70 and a 200 day moving average price of $22.57.

Phreesia (NYSE:PHR) last posted its earnings results on Monday, December 9th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.04. The business had revenue of $106.80 million during the quarter, compared to analyst estimates of $106.33 million. Phreesia had a negative return on equity of 32.78% and a negative net margin of 20.43%. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.58) EPS. As a group, research analysts forecast that Phreesia, Inc. will post -1.16 earnings per share for the current fiscal year.

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.