Phreesia (NYSE:PHR) Hits New 12-Month Low – Time to Sell?

Phreesia, Inc. (NYSE:PHR)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $11.28 and last traded at $11.67, with a volume of 189946 shares trading hands. The stock had previously closed at $12.06.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PHR. Canaccord Genuity Group reduced their price objective on Phreesia from $38.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, December 9th. Zacks Research downgraded Phreesia from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. BMO Capital Markets initiated coverage on shares of Phreesia in a report on Thursday, November 13th. They issued an “outperform” rating and a $32.00 target price for the company. Robert W. Baird reduced their price target on shares of Phreesia from $31.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 10th. Finally, Truist Financial set a $24.00 price target on shares of Phreesia in a research note on Thursday, January 8th. Seventeen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $29.12.

Phreesia Stock Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 2.44 and a quick ratio of 2.44. The business has a 50-day simple moving average of $13.93 and a 200-day simple moving average of $19.43. The firm has a market capitalization of $685.44 million, a PE ratio of -113.68 and a beta of 0.67.

Phreesia (NYSE:PHR) last posted its quarterly earnings data on Monday, December 8th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.11. The business had revenue of $120.33 million during the quarter, compared to analyst estimates of $119.98 million. Phreesia had a negative return on equity of 1.31% and a negative net margin of 1.16%.The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period last year, the company earned ($0.25) EPS. Equities research analysts expect that Phreesia, Inc. will post -1.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Balaji Gandhi sold 4,687 shares of the firm’s stock in a transaction 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 sale, the chief financial officer directly owned 150,569 shares in the company, valued at $2,463,308.84. This trade represents a 3.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Allison C. Hoffman sold 3,995 shares of Phreesia stock in a transaction 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 transaction, the general counsel directly owned 169,661 shares of the company’s stock, valued at $2,775,653.96. The trade was a 2.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 60,766 shares of company stock valued at $1,013,817 over the last 90 days. 5.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Phreesia

A number of large investors have recently made changes to their positions in PHR. Vanguard Group Inc. grew its holdings in Phreesia by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 5,744,326 shares of the company’s stock valued at $97,194,000 after purchasing an additional 39,540 shares during the last quarter. Greenhouse Funds LLLP lifted its stake in Phreesia by 16.8% in the third quarter. Greenhouse Funds LLLP now owns 3,882,527 shares of the company’s stock worth $91,317,000 after purchasing an additional 557,265 shares during the last quarter. Granahan Investment Management LLC boosted its position in shares of Phreesia by 73.8% during the fourth quarter. Granahan Investment Management LLC now owns 2,399,613 shares of the company’s stock valued at $40,601,000 after buying an additional 1,018,987 shares during the period. Franklin Resources Inc. boosted its position in shares of Phreesia by 28.8% during the fourth quarter. Franklin Resources Inc. now owns 2,000,082 shares of the company’s stock valued at $33,841,000 after buying an additional 446,890 shares during the period. Finally, Nuveen LLC grew its stake in shares of Phreesia by 12.7% during the fourth quarter. Nuveen LLC now owns 1,875,725 shares of the company’s stock valued at $31,737,000 after buying an additional 211,262 shares during the last quarter. 92.10% of the stock is owned by hedge funds and other institutional investors.

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.