JPMorgan Chase & Co. Cuts Phreesia (NYSE:PHR) Price Target to $24.00

Phreesia (NYSE:PHR) had its price target lowered by stock analysts at JPMorgan Chase & Co. from $29.00 to $24.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 92.76% from the stock’s previous close.

A number of other research analysts also recently commented on PHR. Needham & Company LLC reaffirmed a “buy” rating and set a $35.00 target price on shares of Phreesia in a report on Monday, December 8th. Barclays reduced their price objective on Phreesia from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 16th. Wells Fargo & Company assumed coverage on shares of Phreesia in a research note on Thursday, January 8th. They set an “overweight” rating and a $30.00 target price for the company. Mizuho set a $22.00 target price on shares of Phreesia in a report on Wednesday, February 4th. Finally, Royal Bank Of Canada started coverage on shares of Phreesia in a research report on Friday, January 9th. They issued a “moderate buy” rating and a $26.00 price target on the stock. Seventeen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Phreesia currently has a consensus rating of “Moderate Buy” and an average price target of $29.12.

Phreesia Stock Down 1.0%

Shares of PHR stock traded down $0.13 during mid-day trading on Friday, reaching $12.45. 992,390 shares of the company were exchanged, compared to its average volume of 1,614,933. 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 business’s 50 day simple moving average is $15.21 and its 200 day simple moving average is $21.03. The company has a market capitalization of $750.67 million, a P/E ratio of -124.50 and a beta of 0.65. Phreesia has a fifty-two week low of $11.57 and a fifty-two week high of $32.76.

Phreesia (NYSE:PHR) last posted its quarterly earnings data on Monday, December 8th. The company reported $0.10 EPS 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 the consensus estimate of $119.98 million. Phreesia had a negative net margin of 1.16% and a negative return on equity of 1.31%. The firm’s revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.25) EPS. Research analysts predict that Phreesia will post -1.1 earnings per share for the current year.

Insider Buying and Selling

In other news, General Counsel Allison C. Hoffman sold 3,995 shares of the business’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $16.36, for a total transaction of $65,358.20. Following the completion of the transaction, the general counsel directly owned 169,661 shares in the company, valued at approximately $2,775,653.96. The trade was a 2.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Balaji Gandhi sold 4,687 shares of the stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $16.36, for a total value of $76,679.32. Following the completion of the transaction, the chief financial officer directly owned 150,569 shares of the company’s stock, valued at $2,463,308.84. This trade represents a 3.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 60,766 shares of company stock valued at $1,013,817 in the last ninety days. Insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Phreesia

Institutional investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund boosted its holdings in shares of Phreesia by 727.1% in the third quarter. New York State Common Retirement Fund now owns 136,856 shares of the company’s stock worth $3,219,000 after buying an additional 120,309 shares during the period. Squarepoint Ops LLC lifted its position in shares of Phreesia by 243.6% in the 2nd quarter. Squarepoint Ops LLC now owns 100,922 shares of the company’s stock valued at $2,872,000 after acquiring an additional 71,553 shares in the last quarter. Arcadia Investment Management Corp MI boosted its stake 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 period. Acadian Asset Management LLC grew its position in 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, Boston Partners raised its stake in Phreesia by 165.1% during the 2nd quarter. Boston Partners now owns 130,060 shares of the company’s stock valued at $3,702,000 after purchasing an additional 81,006 shares during the period. 92.10% of the stock is currently owned by institutional investors and hedge funds.

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.