Wall Street Zen Upgrades Phreesia (NYSE:PHR) to “Buy”

Phreesia (NYSE:PHR) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday, Wall Street Zen reports.

Several other research analysts have also issued reports on PHR. Wells Fargo & Company raised their target price on Phreesia from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 3rd. DA Davidson cut their target price on Phreesia from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, September 4th. Raymond James Financial lowered Phreesia from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 8th. Robert W. Baird upped their price target on Phreesia from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, September 4th. Finally, Citigroup reissued a “market perform” rating on shares of Phreesia in a research note on Friday, September 4th. Eight investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $14.00.

Phreesia Price Performance

PHR stock opened at $10.79 on Friday. The company has a fifty day moving average price of $11.06 and a 200-day moving average price of $10.19. The company has a market capitalization of $669.67 million, a P/E ratio of 63.47 and a beta of 0.84. Phreesia has a 52-week low of $7.77 and a 52-week high of $24.13. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.76 and a current ratio of 1.76.

Phreesia (NYSE:PHR) last issued its quarterly earnings results on Wednesday, September 2nd. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). Phreesia had a return on equity of 5.22% and a net margin of 2.06%. The business had revenue of $129.46 million for the quarter, compared to analyst estimates of $129.06 million. During the same quarter last year, the firm posted $0.01 EPS. Phreesia’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, equities analysts expect that Phreesia will post 0.33 EPS for the current year.

Insider Activity

In other news, General Counsel Allison C. Hoffman sold 6,662 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $10.08, for a total value of $67,152.96. Following the transaction, the general counsel owned 266,574 shares in the company, valued at approximately $2,687,065.92. The trade was a 2.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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.

Institutional Investors Weigh In On Phreesia

Institutional investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. lifted its holdings in Phreesia by 354.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,755 shares of the company’s stock valued at $47,000 after buying an additional 2,149 shares during the period. Allworth Financial LP boosted its position in Phreesia by 78.3% during the second quarter. Allworth Financial LP now owns 5,613 shares of the company’s stock valued at $58,000 after acquiring an additional 2,465 shares during the last quarter. Diversified Trust Co grew its holdings in Phreesia by 5.8% during the 1st quarter. Diversified Trust Co now owns 54,418 shares of the company’s stock worth $456,000 after acquiring an additional 2,996 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Phreesia by 1,119.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,269 shares of the company’s stock worth $27,000 after acquiring an additional 3,001 shares during the period. Finally, Integrated Wealth Concepts LLC grew its holdings in Phreesia by 37.2% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 14,129 shares of the company’s stock worth $145,000 after acquiring an additional 3,834 shares during the period. 92.10% of the stock is owned by institutional investors.

Phreesia Company Profile

Phreesia, Inc is a healthcare technology company that provides software and services designed to simplify and automate the patient intake process. Its platform helps healthcare organizations manage registration, consent forms, clinical questionnaires, insurance and demographic information, payments, and other administrative tasks through digital tools.

The company’s offerings are used by medical practices, health systems, and other healthcare organizations to improve patient engagement and support administrative and revenue-cycle workflows.