Phreesia (NYSE:PHR) Price Target Cut to $29.00

Phreesia (NYSE:PHRGet Free Report) had its price objective dropped by research analysts at Truist Financial from $35.00 to $29.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price indicates a potential upside of 57.35% from the stock’s current price.

Several other equities analysts also recently commented on the stock. Canaccord Genuity Group cut their price target on shares of Phreesia from $37.00 to $34.00 and set a “buy” rating on the stock in a report on Friday. Stephens reaffirmed an “overweight” rating and set a $28.00 target price on shares of Phreesia in a research note on Friday. Needham & Company LLC reissued a “buy” rating and set a $29.00 price target on shares of Phreesia in a research note on Friday. Robert W. Baird boosted their price objective on Phreesia from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, March 18th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $30.00 target price on shares of Phreesia in a research note on Friday. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $30.92.

Check Out Our Latest Research Report on PHR

Phreesia Trading Down 2.6 %

NYSE PHR traded down $0.49 during trading hours on Monday, hitting $18.43. 48,066 shares of the company were exchanged, compared to its average volume of 493,826. Phreesia has a 52 week low of $12.05 and a 52 week high of $34.98. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.02. The stock has a 50-day moving average price of $22.55 and a 200 day moving average price of $22.73. The stock has a market cap of $1.06 billion, a PE ratio of -8.47 and a beta of 0.95.

Phreesia (NYSE:PHRGet Free Report) last released its earnings results on Thursday, May 30th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.51) by $0.16. Phreesia had a negative return on equity of 46.81% and a negative net margin of 31.87%. The firm had revenue of $101.20 million for the quarter, compared to the consensus estimate of $100.94 million. During the same quarter in the previous year, the company posted ($0.70) EPS. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. Analysts forecast that Phreesia will post -1.48 earnings per share for the current fiscal year.

Insider Activity at Phreesia

In other Phreesia news, CEO Chaim Indig sold 12,043 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $22.62, for a total transaction of $272,412.66. Following the sale, the chief executive officer now owns 1,225,397 shares of the company’s stock, valued at approximately $27,718,480.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Janet Gunzburg sold 2,817 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $23.27, for a total value of $65,551.59. Following the sale, the insider now directly owns 40,609 shares in the company, valued at approximately $944,971.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Chaim Indig sold 12,043 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $22.62, for a total transaction of $272,412.66. Following the transaction, the chief executive officer now owns 1,225,397 shares of the company’s stock, valued at approximately $27,718,480.14. The disclosure for this sale can be found here. Insiders have sold a total of 82,467 shares of company stock valued at $1,895,776 over the last ninety days. 5.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Phreesia

Institutional investors and hedge funds have recently bought and sold shares of the company. Boston Partners acquired a new stake in shares of Phreesia in the 1st quarter worth $669,000. Silvercrest Asset Management Group LLC raised its stake in Phreesia by 4.5% in the first quarter. Silvercrest Asset Management Group LLC now owns 447,638 shares of the company’s stock valued at $10,712,000 after buying an additional 19,454 shares during the last quarter. Bellevue Group AG boosted its holdings in Phreesia by 5.2% in the first quarter. Bellevue Group AG now owns 443,341 shares of the company’s stock worth $10,609,000 after acquiring an additional 21,768 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Phreesia during the first quarter worth about $202,000. Finally, Capital International Investors increased its holdings in shares of Phreesia by 221.1% during the first quarter. Capital International Investors now owns 2,593,063 shares of the company’s stock valued at $62,052,000 after acquiring an additional 1,785,463 shares in the last quarter. 92.10% of the stock is owned by hedge funds and other institutional investors.

Phreesia Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Phreesia (NYSE:PHR)

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