Phreesia (NYSE:PHR) Announces Earnings Results

Phreesia (NYSE:PHR) announced its quarterly earnings results on Wednesday. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06), FiscalAI reports. The business had revenue of $129.46 million for the quarter, compared to analysts’ expectations of $129.06 million. Phreesia had a return on equity of 5.13% and a net margin of 1.85%.

Phreesia Stock Performance

Shares of PHR traded up $0.04 during midday trading on Wednesday, reaching $11.88. 496,678 shares of the stock were exchanged, compared to its average volume of 1,497,535. The business’s 50-day moving average price is $11.14 and its 200 day moving average price is $10.48. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.76 and a quick ratio of 1.76. Phreesia has a twelve month low of $7.77 and a twelve month high of $31.83. The company has a market capitalization of $734.33 million, a price-to-earnings ratio of 79.20 and a beta of 0.85.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its stake in Phreesia by 208.8% in the first quarter. Royal Bank of Canada now owns 24,119 shares of the company’s stock valued at $617,000 after buying an additional 16,309 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Phreesia by 471.2% in the 1st quarter. AQR Capital Management LLC now owns 160,032 shares of the company’s stock valued at $4,090,000 after acquiring an additional 132,015 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Phreesia by 3.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,557 shares of the company’s stock valued at $1,599,000 after purchasing an additional 2,158 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Phreesia by 262.7% during the 1st quarter. NewEdge Advisors LLC now owns 15,437 shares of the company’s stock worth $395,000 after purchasing an additional 11,181 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Phreesia by 0.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 600,012 shares of the company’s stock worth $15,336,000 after purchasing an additional 2,402 shares during the last quarter. Hedge funds and other institutional investors own 92.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on PHR. Canaccord Genuity Group dropped their price objective on Phreesia from $22.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, May 28th. Citigroup reaffirmed a “market perform” rating on shares of Phreesia in a report on Friday, May 29th. Truist Financial increased their price target on shares of Phreesia from $11.00 to $12.00 and gave the company a “hold” rating in a research note on Thursday, May 28th. Wells Fargo & Company reissued an “equal weight” rating and set a $9.00 price objective (down from $15.00) on shares of Phreesia in a report on Wednesday, May 20th. Finally, Barclays restated an “equal weight” rating and set a $10.00 price objective (down from $24.00) on shares of Phreesia in a research report on Thursday, May 14th. Nine investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $16.65.

Phreesia Company Profile

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.