Phreesia (NYSE:PHR) Price Target Raised to $30.00 at KeyCorp

Phreesia (NYSE:PHR) had its price target lifted by equities research analysts at KeyCorp from $28.00 to $30.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price target would suggest a potential upside of 5.71% from the stock’s current price.

Several other brokerages have also commented on PHR. Robert W. Baird decreased their price objective on shares of Phreesia from $34.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. Truist Financial boosted their target price on Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Royal Bank of Canada upgraded Phreesia from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $24.00 to $32.00 in a research report on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $29.00 price objective on shares of Phreesia in a report on Tuesday, December 10th. Finally, JMP Securities reissued a “market outperform” rating and set a $30.00 target price on shares of Phreesia in a research note on Tuesday, December 10th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $30.64.

Phreesia Trading Up 5.2 %

PHR stock traded up $1.40 during midday trading on Wednesday, hitting $28.38. 424,302 shares of the company’s stock were exchanged, compared to its average volume of 353,303. Phreesia has a 1-year low of $17.07 and a 1-year high of $29.16. The company has a current ratio of 1.74, a quick ratio of 1.77 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $1.65 billion, a PE ratio of -19.31 and a beta of 0.94. The business has a 50-day simple moving average of $22.30 and a two-hundred day simple moving average of $22.49.

Phreesia (NYSE:PHR) last issued its quarterly earnings data on Monday, December 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.04. Phreesia had a negative return on equity of 32.78% and a negative net margin of 20.43%. The firm had revenue of $106.80 million during the quarter, compared to the consensus estimate of $106.33 million. During the same period last year, the company earned ($0.58) EPS. The company’s quarterly revenue was up 16.6% on a year-over-year basis. On average, sell-side analysts predict that Phreesia will post -1.16 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Allison C. Hoffman sold 1,212 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $21.03, for a total value of $25,488.36. Following the transaction, the general counsel now owns 119,791 shares in the company, valued at approximately $2,519,204.73. This represents a 1.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Amy Beth Vanduyn sold 25,447 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $20.93, for a total value of $532,605.71. Following the sale, the senior vice president now directly owns 93,470 shares in the company, valued at $1,956,327.10. This trade represents a 21.40 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,342 shares of company stock worth $2,041,225. 5.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Trust Point Inc. lifted its position in Phreesia by 3.5% in the third quarter. Trust Point Inc. now owns 17,887 shares of the company’s stock valued at $408,000 after acquiring an additional 607 shares during the last quarter. Ensign Peak Advisors Inc lifted its holdings in shares of Phreesia by 3.2% in the 2nd quarter. Ensign Peak Advisors Inc now owns 22,491 shares of the company’s stock valued at $477,000 after purchasing an additional 700 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Phreesia by 1.0% in the 2nd quarter. Rhumbline Advisers now owns 82,136 shares of the company’s stock valued at $1,741,000 after purchasing an additional 853 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Phreesia by 3.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 27,935 shares of the company’s stock valued at $637,000 after purchasing an additional 905 shares during the period. Finally, MetLife Investment Management LLC grew its stake in Phreesia by 3.8% during the 3rd quarter. MetLife Investment Management LLC now owns 30,781 shares of the company’s stock worth $701,000 after buying an additional 1,120 shares during the last quarter. 92.10% of the stock is 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. 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.