JMP Securities Reiterates Market Outperform Rating for Phreesia (NYSE:PHR)

JMP Securities reaffirmed their market outperform rating on shares of Phreesia (NYSE:PHR) in a report released on Tuesday,Benzinga reports. The firm currently has a $30.00 target price on the stock.

Several other research firms have also weighed in on PHR. Needham & Company LLC reiterated a “buy” rating and set a $29.00 price objective on shares of Phreesia in a research note on Tuesday. JPMorgan Chase & Co. upped their target price on shares of Phreesia from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Royal Bank of Canada restated a “sector perform” rating and issued a $23.00 target price on shares of Phreesia in a research report on Friday, September 27th. DA Davidson restated a “buy” rating and issued a $32.00 target price on shares of Phreesia in a research report on Thursday, September 5th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $34.00 target price on shares of Phreesia in a research report on Thursday, September 5th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Phreesia presently has an average rating of “Moderate Buy” and a consensus price target of $29.42.

Phreesia Price Performance

PHR opened at $24.15 on Tuesday. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -13.42 and a beta of 0.98. Phreesia has a fifty-two week low of $17.07 and a fifty-two week high of $29.16. The company’s 50-day moving average price is $20.26 and its 200 day moving average price is $21.75. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.

Phreesia (NYSE:PHR) last released its quarterly earnings data on Monday, December 9th. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.04. The firm had revenue of $106.80 million for the quarter, compared to analyst estimates of $106.33 million. Phreesia had a negative net margin of 25.73% and a negative return on equity of 39.34%. Phreesia’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.58) earnings per share. As a group, sell-side analysts expect that Phreesia will post -1.23 earnings per share for the current year.

Insider Activity

In related news, SVP David Linetsky sold 2,011 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $21.03, for a total transaction of $42,291.33. Following the completion of the sale, the senior vice president now directly owns 201,307 shares in the company, valued at approximately $4,233,486.21. This trade represents a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Allison C. Hoffman sold 1,212 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $21.03, for a total transaction of $25,488.36. Following the sale, the general counsel now owns 119,791 shares of the company’s stock, valued at $2,519,204.73. The trade was a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 53,569 shares of company stock worth $1,123,014 over the last three months. Corporate insiders own 5.80% of the company’s stock.

Institutional Trading of Phreesia

Large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its holdings in Phreesia by 2,179.7% during the third quarter. International Assets Investment Management LLC now owns 1,459 shares of the company’s stock worth $33,000 after buying an additional 1,395 shares in the last quarter. nVerses Capital LLC lifted its position in shares of Phreesia by 76.5% in the 2nd quarter. nVerses Capital LLC now owns 3,000 shares of the company’s stock valued at $64,000 after acquiring an additional 1,300 shares in the last quarter. Lombard Odier Asset Management USA Corp purchased a new stake in shares of Phreesia in the 2nd quarter valued at approximately $202,000. Point72 DIFC Ltd purchased a new stake in shares of Phreesia in the 2nd quarter valued at approximately $209,000. Finally, XTX Topco Ltd purchased a new stake in shares of Phreesia in the 3rd quarter valued at approximately $247,000. 92.10% of the stock is currently owned by 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. 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.