Guggenheim Cuts Phreesia (NYSE:PHR) Price Target to $30.00

Phreesia (NYSE:PHR – Get Rating) had its target price reduced by equities researchers at Guggenheim from $45.00 to $30.00 in a research note issued to investors on Friday, The Fly reports. Guggenheim’s target price would suggest a potential upside of 57.89% from the stock’s current price.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. reduced their price objective on Phreesia from $51.00 to $42.00 in a research report on Thursday, March 31st. Needham & Company LLC reduced their price objective on Phreesia from $65.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, March 31st. Canaccord Genuity Group reduced their price objective on Phreesia from $81.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, March 31st. Royal Bank of Canada reduced their price objective on Phreesia from $51.00 to $29.00 and set a “sector perform” rating for the company in a research report on Thursday, April 7th. Finally, JMP Securities cut their target price on Phreesia from $50.00 to $34.00 in a research note on Friday. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Phreesia presently has a consensus rating of “Buy” and a consensus target price of $45.12.

Shares of PHR opened at $19.00 on Friday. The firm has a market cap of $973.56 million, a price-to-earnings ratio of -8.15 and a beta of 1.39. The stock has a 50 day moving average of $22.84 and a 200-day moving average of $33.02. The company has a current ratio of 5.65, a quick ratio of 5.65 and a debt-to-equity ratio of 0.02. Phreesia has a 52 week low of $13.19 and a 52 week high of $76.10.

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

In other Phreesia news, General Counsel Allison C. Hoffman sold 3,909 shares of the business’s stock in a transaction dated Monday, May 9th. The stock was 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 $1,964,739.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 5.50% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. M Holdings Securities Inc. acquired a new position in shares of Phreesia during the 1st quarter worth about $516,000. The Manufacturers Life Insurance Company lifted its position in shares of Phreesia by 229.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 82,264 shares of the company’s stock worth $2,355,000 after purchasing an additional 57,316 shares during the last quarter. Point72 Hong Kong Ltd lifted its position in shares of Phreesia by 266.6% during the 1st quarter. Point72 Hong Kong Ltd now owns 5,381 shares of the company’s stock worth $142,000 after purchasing an additional 3,913 shares during the last quarter. Rock Springs Capital Management LP raised its holdings in Phreesia by 23.4% in the 1st quarter. Rock Springs Capital Management LP now owns 950,000 shares of the company’s stock valued at $25,042,000 after acquiring an additional 180,000 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Phreesia in the 1st quarter valued at approximately $998,000. 94.29% of the stock is owned by institutional investors and hedge funds.

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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