Phreesia (NYSE:PHR) Price Target Increased to $23.00 by Analysts at Royal Bank of Canada

Phreesia (NYSE:PHR) had its target price increased by Royal Bank of Canada from $17.00 to $23.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a sector perform rating on the stock.

A number of other analysts have also weighed in on PHR. Robert W. Baird upped their price objective on shares of Phreesia from $30.00 to $31.00 and gave the stock an outperform rating in a research note on Monday. Raymond James lowered their price target on shares of Phreesia from $30.00 to $25.00 and set an outperform rating on the stock in a report on Thursday, December 7th. Barclays assumed coverage on shares of Phreesia in a report on Wednesday, January 3rd. They issued an overweight rating and a $29.00 price target on the stock. Truist Financial assumed coverage on shares of Phreesia in a report on Monday, February 26th. They issued a buy rating and a $35.00 price target on the stock. Finally, KeyCorp lowered their price target on shares of Phreesia from $40.00 to $30.00 and set an overweight rating on the stock in a report on Thursday, December 7th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Phreesia presently has a consensus rating of Moderate Buy and a consensus price target of $32.71.

Phreesia Trading Down 3.5 %

Shares of PHR traded down $0.82 during trading hours on Friday, reaching $22.93. 693,167 shares of the company traded hands, compared to its average volume of 545,245. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -9.10 and a beta of 0.93. Phreesia has a 12-month low of $12.05 and a 12-month high of $36.13. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.03. The stock’s fifty day moving average price is $25.31 and its 200 day moving average price is $20.99.

Phreesia (NYSE:PHR) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.56) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.02. Phreesia had a negative net margin of 38.42% and a negative return on equity of 52.97%. The company had revenue of $95.00 million during the quarter, compared to analyst estimates of $93.52 million. During the same period in the prior year, the firm earned ($0.72) earnings per share. The firm’s revenue for the quarter was up 24.0% compared to the same quarter last year. Sell-side analysts forecast that Phreesia will post -1.47 earnings per share for the current year.

Insiders Place Their Bets

In other Phreesia news, COO Evan Roberts sold 2,247 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $24.55, for a total transaction of $55,163.85. Following the completion of the transaction, the chief operating officer now directly owns 795,613 shares of the company’s stock, valued at approximately $19,532,299.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Phreesia news, CEO Chaim Indig sold 3,586 shares of Phreesia stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $24.55, for a total transaction of $88,036.30. Following the sale, the chief executive officer now owns 1,280,410 shares of the company’s stock, valued at approximately $31,434,065.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Evan Roberts sold 2,247 shares of Phreesia stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $24.55, for a total transaction of $55,163.85. Following the sale, the chief operating officer now directly owns 795,613 shares in the company, valued at approximately $19,532,299.15. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,950 shares of company stock valued at $246,213. 5.80% of the stock is owned by insiders.

Institutional Trading of Phreesia

A number of institutional investors and hedge funds have recently bought and sold shares of PHR. Envestnet Asset Management Inc. boosted its holdings in shares of Phreesia by 11.7% in the first quarter. Envestnet Asset Management Inc. now owns 9,692 shares of the company’s stock valued at $255,000 after acquiring an additional 1,015 shares during the period. JPMorgan Chase & Co. raised its position in Phreesia by 160.9% in the first quarter. JPMorgan Chase & Co. now owns 85,546 shares of the company’s stock worth $2,254,000 after acquiring an additional 52,755 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Phreesia by 20.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 8,427 shares of the company’s stock worth $222,000 after acquiring an additional 1,447 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Phreesia by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 219,598 shares of the company’s stock valued at $5,788,000 after buying an additional 2,047 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Phreesia by 27.6% in the first quarter. PNC Financial Services Group Inc. now owns 16,059 shares of the company’s stock valued at $424,000 after buying an additional 3,473 shares in the last quarter. 94.37% of the stock is currently owned by hedge funds and other 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. Its Phreesia Platform offers access solutions that offers appointment scheduling system for online appointments, reminders, and referral tracking; 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.