Phreesia (NYSE:PHR) Sees Large Volume Increase – Time to Buy?

Phreesia, Inc. (NYSE:PHR) saw strong trading volume on Wednesday . 1,345,090 shares traded hands during trading, an increase of 101% from the previous session’s volume of 669,301 shares.The stock last traded at $16.1950 and had previously closed at $15.43.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. DA Davidson upped their price target on shares of Phreesia from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. JPMorgan Chase & Co. reduced their price objective on Phreesia from $32.00 to $29.00 and set an “overweight” rating for the company in a research note on Tuesday. Piper Sandler increased their target price on shares of Phreesia from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, September 5th. Mizuho cut their target price on shares of Phreesia from $36.00 to $28.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, BMO Capital Markets began coverage on shares of Phreesia in a report on Thursday, November 13th. They set an “outperform” rating and a $32.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $31.13.

Phreesia Trading Up 0.7%

The company has a quick ratio of 2.12, a current ratio of 2.44 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $974.29 million, a PE ratio of -161.98 and a beta of 0.64. The business’s 50-day moving average is $21.60 and its two-hundred day moving average is $25.06.

Phreesia (NYSE:PHR) last posted its earnings results on Monday, December 8th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.11. The business had revenue of $120.33 million for the quarter, compared to analysts’ expectations of $119.98 million. Phreesia had a negative return on equity of 1.31% and a negative net margin of 1.16%.The business’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.25) earnings per share. On average, analysts anticipate that Phreesia, Inc. will post -1.1 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Evan Roberts sold 1,888 shares of Phreesia stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $22.36, for a total transaction of $42,215.68. Following the completion of the sale, the insider owned 724,949 shares in the company, valued at approximately $16,209,859.64. This trade represents a 0.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Balaji Gandhi sold 4,183 shares of the company’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $23.28, for a total value of $97,380.24. Following the completion of the transaction, the chief financial officer owned 99,125 shares of the company’s stock, valued at $2,307,630. The trade was a 4.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 26,174 shares of company stock valued at $603,835 in the last quarter. Insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Phreesia

Institutional investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC acquired a new position in shares of Phreesia in the first quarter worth $774,000. Farther Finance Advisors LLC grew its stake in Phreesia by 9,375.0% in the second quarter. Farther Finance Advisors LLC now owns 3,032 shares of the company’s stock valued at $86,000 after purchasing an additional 3,000 shares in the last quarter. Arcadia Investment Management Corp MI increased its position in Phreesia by 22.3% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 113,470 shares of the company’s stock worth $3,229,000 after purchasing an additional 20,700 shares during the last quarter. Acadian Asset Management LLC raised 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 in the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Phreesia by 30.6% during the 1st quarter. Deutsche Bank AG now owns 74,857 shares of the company’s stock valued at $1,913,000 after buying an additional 17,560 shares during the last quarter. Institutional investors own 92.10% of the company’s stock.

About Phreesia

Phreesia, Inc provides an integrated SaaS-based software and payment platform for the healthcare industry in the United States and Canada. The company offers access solutions that offers appointment scheduling system for online appointments, reminders, and referral tracking management; 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.