Phreesia (NYSE:PHR) Stock Rating Lowered by JPMorgan Chase & Co.

Phreesia (NYSE:PHR) was downgraded by JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a note issued to investors on Wednesday, FinViz reports. They presently have a $13.00 price target on the stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 1.13% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Raymond James Financial downgraded shares of Phreesia from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $19.00 price target on shares of Phreesia in a research report on Thursday, September 3rd. Canaccord Genuity Group reiterated a “buy” rating and set a $16.00 price objective on shares of Phreesia in a research note on Thursday, September 3rd. Wells Fargo & Company increased their price objective on shares of Phreesia from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 3rd. Finally, DA Davidson cut their target price on shares of Phreesia from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, September 4th. Eight equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Phreesia presently has a consensus rating of “Hold” and an average price target of $13.87.

Phreesia Stock Performance

Shares of NYSE:PHR opened at $13.15 on Wednesday. The firm has a market capitalization of $816.17 million, a PE ratio of 77.35 and a beta of 0.75. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.76 and a quick ratio of 1.76. The business has a 50-day moving average of $11.17 and a two-hundred day moving average of $10.87. Phreesia has a 12 month low of $7.77 and a 12 month high of $23.31.

Phreesia (NYSE:PHR) last released its quarterly earnings data on Wednesday, September 2nd. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). The firm had revenue of $129.46 million during the quarter, compared to analysts’ expectations of $129.06 million. Phreesia had a return on equity of 5.22% and a net margin of 2.06%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.01 earnings per share. As a group, research analysts forecast that Phreesia will post 0.33 earnings per share for the current year.

Insider Activity

In other news, General Counsel Allison C. Hoffman sold 6,662 shares of the stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $10.08, for a total value of $67,152.96. Following the completion of the sale, the general counsel owned 266,574 shares in the company, valued at approximately $2,687,065.92. This trade represents a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Phreesia

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Deutsche Bank AG acquired a new stake in Phreesia in the second quarter valued at approximately $538,000. Corient Private Wealth LP lifted its position in shares of Phreesia by 451.7% during the second quarter. Corient Private Wealth LP now owns 148,290 shares of the company’s stock worth $1,526,000 after purchasing an additional 121,413 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Phreesia during the second quarter worth $1,038,000. Flputnam Investment Management Co. purchased a new position in shares of Phreesia in the second quarter valued at $1,656,000. Finally, Bank of America Corp DE acquired a new stake in Phreesia during the 2nd quarter valued at $6,066,000. 92.10% of the stock is owned by institutional investors and hedge funds.

Phreesia Company Profile

Phreesia, Inc. provides software and services that help healthcare organizations manage interactions with patients. Its platform supports tasks such as patient registration and intake, appointment scheduling, payments, and communications before and after visits. Phreesia’s tools include digital and mobile options for completing forms and sharing information, as well as services designed to help providers engage patients and streamline administrative workflows. The company serves healthcare providers and organizations primarily in the United States.