Citigroup Lowers Phreesia (NYSE:PHR) Price Target to $23.00

Phreesia (NYSE:PHRGet Rating) had its price objective cut by investment analysts at Citigroup from $36.00 to $23.00 in a research report issued to clients and investors on Friday, The Fly reports. Citigroup’s target price points to a potential upside of 21.05% from the company’s previous close.

Several other equities analysts have also issued reports on PHR. SVB Leerink lowered their target price on shares of Phreesia from $29.00 to $22.00 and set a “market perform” rating for the company in a report on Friday. Canaccord Genuity Group lowered their target price on shares of Phreesia from $81.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, March 31st. Raymond James lowered their target price on shares of Phreesia from $55.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, April 1st. Zacks Investment Research lowered shares of Phreesia from a “buy” rating to a “hold” rating in a report on Tuesday, April 5th. Finally, Piper Sandler reduced their price target on shares of Phreesia from $54.00 to $42.00 in a research report on Monday, April 4th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Phreesia presently has an average rating of “Buy” and a consensus price target of $45.12.

Shares of PHR opened at $19.00 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.65 and a quick ratio of 5.65. Phreesia has a one year low of $13.19 and a one year high of $76.10. The company has a 50-day simple moving average of $22.84 and a two-hundred day simple moving average of $33.02. The firm has a market capitalization of $973.56 million, a PE ratio of -8.15 and a beta of 1.39.

Phreesia (NYSE:PHRGet Rating) last released its earnings results on Thursday, June 2nd. The company reported ($0.99) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.09) by $0.10. Phreesia had a negative net margin of 55.41% and a negative return on equity of 25.34%. The firm had revenue of $63.35 million during the quarter, compared to analyst estimates of $62.24 million. During the same period last year, the business earned ($0.24) earnings per share. The business’s revenue was up 31.2% on a year-over-year basis. Analysts expect that Phreesia will post -4.22 EPS for the current fiscal year.

In other Phreesia news, General Counsel Allison C. Hoffman sold 3,909 shares of Phreesia stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $17.07, for a total value of $66,726.63. Following the completion of the sale, the general counsel now owns 115,099 shares of the company’s stock, valued at approximately $1,964,739.93. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 5.50% of the company’s stock.

Several hedge funds have recently modified their holdings of PHR. Echo Street Capital Management LLC grew its position in shares of Phreesia by 254.5% during the 1st quarter. Echo Street Capital Management LLC now owns 1,207,228 shares of the company’s stock valued at $31,823,000 after acquiring an additional 866,654 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Phreesia during the 4th quarter valued at $26,592,000. Brown Advisory Inc. grew its position in shares of Phreesia by 27.4% during the 1st quarter. Brown Advisory Inc. now owns 1,649,403 shares of the company’s stock valued at $43,680,000 after acquiring an additional 354,378 shares during the period. BlackRock Inc. grew its position in shares of Phreesia by 5.8% during the 1st quarter. BlackRock Inc. now owns 6,359,641 shares of the company’s stock valued at $167,640,000 after acquiring an additional 349,301 shares during the period. Finally, Lazard Asset Management LLC grew its position in shares of Phreesia by 102.5% during the 1st quarter. Lazard Asset Management LLC now owns 654,294 shares of the company’s stock valued at $17,247,000 after acquiring an additional 331,209 shares during the period. 94.29% of the stock is owned by hedge funds and other institutional investors.

About Phreesia (Get Rating)

Phreesia, Inc provides an integrated SaaS-based software and payment platform for the healthcare industry in the United States and Canada. Its Phreesia Platform offers a suite of solutions to manage the patient intake process, as well as an integrated payments solution for processing of patient payments.

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