Phreesia (NYSE:PHR) Reaches New 1-Year Low After Analyst Downgrade

Phreesia, Inc. (NYSE:PHR) shares hit a new 52-week low during trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $29.00 to $24.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Phreesia traded as low as $11.55 and last traded at $11.6970, with a volume of 610907 shares traded. The stock had previously closed at $12.71.

Other research analysts have also recently issued research reports about the company. Canaccord Genuity Group decreased their target price on Phreesia from $38.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, December 9th. Barclays lowered their price objective on shares of Phreesia from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 16th. Wall Street Zen lowered shares of Phreesia from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 8th. Zacks Research cut shares of Phreesia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Finally, DA Davidson dropped their price target on Phreesia from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, January 23rd. Seventeen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Phreesia has an average rating of “Moderate Buy” and a consensus target price of $29.12.

Insider Buying and Selling at Phreesia

In other news, SVP Amy Beth Vanduyn sold 2,602 shares of Phreesia stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $17.01, for a total transaction of $44,260.02. Following the sale, the senior vice president directly owned 160,238 shares in the company, valued at approximately $2,725,648.38. The trade was a 1.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Evan Roberts sold 6,317 shares of the firm’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $17.01, for a total transaction of $107,452.17. Following the transaction, the insider owned 834,632 shares of the company’s stock, valued at approximately $14,197,090.32. This represents a 0.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 60,766 shares of company stock valued at $1,013,817 in the last three months. Company insiders own 5.50% of the company’s stock.

Institutional Trading of Phreesia

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Loomis Sayles & Co. L P acquired a new position in shares of Phreesia in the 2nd quarter valued at $34,162,000. Granahan Investment Management LLC lifted its holdings in Phreesia by 73.8% during the fourth quarter. Granahan Investment Management LLC now owns 2,399,613 shares of the company’s stock worth $40,601,000 after acquiring an additional 1,018,987 shares in the last quarter. Prosight Management LP acquired a new position in Phreesia in the fourth quarter valued at about $16,533,000. Millennium Management LLC raised its position in shares of Phreesia by 730.7% during the third quarter. Millennium Management LLC now owns 1,064,132 shares of the company’s stock worth $25,028,000 after purchasing an additional 936,033 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Phreesia during the fourth quarter worth about $15,213,000. 92.10% of the stock is currently owned by institutional investors and hedge funds.

Phreesia Price Performance

The company has a 50-day moving average of $15.14 and a 200-day moving average of $20.84. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.44 and a current ratio of 2.44. The firm has a market capitalization of $703.77 million, a price-to-earnings ratio of -116.96 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 for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.11. The firm had revenue of $120.33 million for the quarter, compared to analyst estimates of $119.98 million. Phreesia had a negative net margin of 1.16% and a negative return on equity of 1.31%. The business’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.25) earnings per share. As a group, research analysts anticipate that Phreesia, Inc. will post -1.1 EPS for the current fiscal year.

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.