Phreesia (NYSE:PHR) Stock Price Down 6.7% – Here’s What Happened

Phreesia, Inc. (NYSE:PHR)’s stock price dropped 6.7% on Monday . The stock traded as low as $11.45 and last traded at $11.46. 388,277 shares traded hands during trading, a decline of 75% from the average daily volume of 1,548,201 shares. The stock had previously closed at $12.28.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Citigroup reissued a “market perform” rating on shares of Phreesia in a research note on Friday, May 29th. Weiss Ratings raised Phreesia from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, July 20th. Wall Street Zen raised Phreesia from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Truist Financial increased their target price on shares of Phreesia from $11.00 to $12.00 and gave the company a “hold” rating in a research report on Thursday, May 28th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $9.00 price target (down from $15.00) on shares of Phreesia in a report on Wednesday, May 20th. Nine equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $16.65.

Phreesia Stock Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.76 and a quick ratio of 1.76. The stock has a fifty day simple moving average of $10.61 and a two-hundred day simple moving average of $10.54. The firm has a market capitalization of $709.02 million, a P/E ratio of 76.47 and a beta of 0.85.

Phreesia (NYSE:PHR) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. Phreesia had a net margin of 1.85% and a return on equity of 5.13%. The company had revenue of $130.94 million during the quarter, compared to the consensus estimate of $130.08 million. During the same quarter last year, the firm posted ($0.07) EPS. The company’s quarterly revenue was up 12.9% on a year-over-year basis. On average, research analysts predict that Phreesia, Inc. will post 0.39 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Flputnam Investment Management Co. bought a new position in shares of Phreesia during the second quarter valued at about $1,656,000. King Luther Capital Management Corp grew its position in Phreesia by 172.6% in the 4th quarter. King Luther Capital Management Corp now owns 268,314 shares of the company’s stock worth $4,540,000 after purchasing an additional 169,900 shares in the last quarter. Meros Investment Management LP increased its stake in Phreesia by 48.5% in the 4th quarter. Meros Investment Management LP now owns 478,274 shares of the company’s stock valued at $8,092,000 after buying an additional 156,137 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Phreesia by 213.7% during the 1st quarter. Principal Financial Group Inc. now owns 165,173 shares of the company’s stock worth $1,384,000 after buying an additional 112,516 shares in the last quarter. Finally, Pale Fire Capital SE purchased a new position in shares of Phreesia in the 1st quarter worth approximately $72,481,000. 92.10% of the stock is owned by institutional investors and hedge funds.

About Phreesia

Phreesia, Inc (NYSE: PHR) is a provider of patient intake management solutions designed to streamline front-office workflows for healthcare organizations. The company’s cloud-based platform digitizes patient registration, appointment scheduling, insurance verification, consent documentation and payment collection through touchscreen kiosks, tablets and mobile devices. By replacing paper forms and manual processes, Phreesia enhances data accuracy, reduces administrative burden and improves the patient experience.

Founded in 2000 by Chaim Indig and headquartered in Burlington, Massachusetts, Phreesia offers a modular software suite that integrates with electronic medical record (EMR) and practice management systems.