Phreesia (NYSE:PHR) Price Target Cut to $30.00 by Analysts at Robert W. Baird

Phreesia (NYSE:PHR) had its price objective trimmed by Robert W. Baird from $34.00 to $30.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the stock. JMP Securities reissued a “market outperform” rating and issued a $30.00 price target on shares of Phreesia in a research note on Tuesday. Truist Financial upped their price objective 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. JPMorgan Chase & Co. upped their price objective on shares of Phreesia from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $23.00 price objective on shares of Phreesia in a research note on Friday, September 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $29.00 price objective on shares of Phreesia in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.33.

Phreesia Price Performance

PHR stock opened at $24.94 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.74 and a quick ratio of 1.77. Phreesia has a one year low of $17.07 and a one year high of $29.16. The stock has a market cap of $1.45 billion, a PE ratio of -16.97 and a beta of 0.98. The firm has a 50 day simple moving average of $20.45 and a two-hundred day simple moving average of $21.82.

Phreesia (NYSE:PHR) last released its quarterly earnings results on Monday, December 9th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.04. Phreesia had a negative net margin of 20.43% and a negative return on equity of 32.78%. The business had revenue of $106.80 million during the quarter, compared to analysts’ expectations of $106.33 million. During the same quarter in the previous year, the company earned ($0.58) EPS. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, analysts predict that Phreesia will post -1.22 EPS for the current fiscal year.

Insider Buying and Selling at Phreesia

In other Phreesia news, CEO Chaim Indig sold 3,089 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $21.03, for a total value of $64,961.67. Following the completion of the transaction, the chief executive officer now directly owns 1,220,647 shares in the company, valued at approximately $25,670,206.41. This represents a 0.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Allison C. Hoffman sold 1,212 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $21.03, for a total transaction of $25,488.36. Following the completion of the transaction, the general counsel now owns 119,791 shares of the company’s stock, valued at $2,519,204.73. This trade represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,422 shares of company stock valued at $1,417,561 in the last quarter. Company insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its holdings in 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 purchasing an additional 42,973 shares in the last quarter. Geode Capital Management LLC raised its holdings in Phreesia by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,245,797 shares of the company’s stock worth $28,397,000 after purchasing an additional 55,934 shares in the last quarter. M&T Bank Corp raised its holdings in Phreesia by 4.6% in the 3rd quarter. M&T Bank Corp now owns 35,127 shares of the company’s stock worth $801,000 after purchasing an additional 1,535 shares in the last quarter. Barclays PLC increased its stake in shares of Phreesia by 83.6% in the 3rd quarter. Barclays PLC now owns 94,929 shares of the company’s stock worth $2,163,000 after acquiring an additional 43,225 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Phreesia in the 3rd quarter worth about $247,000. 92.10% of the stock is currently owned by institutional investors.

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.