Phreesia (NYSE:PHR) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of Phreesia (NYSE:PHR) from a strong-buy rating to a buy rating in a research report report published on Sunday morning.

Several other equities research analysts have also recently weighed in on the stock. Truist Financial set a $24.00 price objective on shares of Phreesia in a research report on Thursday, January 8th. Zacks Research downgraded shares of Phreesia from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Canaccord Genuity Group dropped their target price on shares of Phreesia from $38.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, December 9th. DA Davidson reduced their price target on shares of Phreesia from $35.00 to $30.00 and set a “buy” rating for the company in a report on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Phreesia in a research note on Wednesday, January 28th. Seventeen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.41.

Phreesia Stock Up 1.6%

Shares of NYSE PHR opened at $12.41 on Friday. The company has a 50 day simple moving average of $16.09 and a 200 day simple moving average of $21.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.44 and a quick ratio of 2.44. Phreesia has a 1 year low of $11.67 and a 1 year high of $32.76. The firm has a market cap of $748.20 million, a PE ratio of -124.09 and a beta of 0.65.

Phreesia (NYSE:PHR) last announced its quarterly earnings results on Monday, December 8th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.11. The firm had revenue of $120.33 million during the quarter, compared to analysts’ expectations of $119.98 million. Phreesia had a negative net margin of 1.16% and a negative return on equity of 1.31%. The company’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.25) EPS. On average, research analysts forecast that Phreesia will post -1.1 EPS for the current year.

Insider Buying and Selling

In other Phreesia news, insider Evan Roberts sold 6,268 shares of Phreesia stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $16.36, for a total transaction of $102,544.48. Following the completion of the transaction, the insider owned 826,554 shares in the company, valued at approximately $13,522,423.44. The trade was a 0.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Amy Beth Vanduyn sold 2,202 shares of the stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $16.36, for a total value of $36,024.72. Following the completion of the sale, the senior vice president directly owned 157,349 shares of the company’s stock, valued at approximately $2,574,229.64. This trade represents a 1.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 60,766 shares of company stock worth $1,013,817 over the last ninety days. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Phreesia

Several large investors have recently bought and sold shares of the stock. New York State Common Retirement Fund increased its holdings in Phreesia by 727.1% during the third quarter. New York State Common Retirement Fund now owns 136,856 shares of the company’s stock worth $3,219,000 after buying an additional 120,309 shares during the last quarter. Squarepoint Ops LLC boosted its stake in Phreesia by 243.6% in the second quarter. Squarepoint Ops LLC now owns 100,922 shares of the company’s stock valued at $2,872,000 after acquiring an additional 71,553 shares during the last quarter. Arcadia Investment Management Corp MI grew its position in shares of Phreesia by 22.3% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 113,470 shares of the company’s stock valued at $3,229,000 after acquiring an additional 20,700 shares during the period. Acadian Asset Management LLC increased its stake in shares of Phreesia by 61.6% during the 2nd quarter. Acadian Asset Management LLC now owns 364,194 shares of the company’s stock worth $10,357,000 after purchasing an additional 138,877 shares during the last quarter. Finally, Boston Partners raised its holdings in shares of Phreesia by 165.1% in the 2nd quarter. Boston Partners now owns 130,060 shares of the company’s stock worth $3,702,000 after purchasing an additional 81,006 shares during the period. 92.10% of the stock is currently owned by institutional investors.

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.