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

Phreesia (NYSE:PHRGet 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:PHRGet 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.

Read More

The Fly logo

Analyst Recommendations for Phreesia (NYSE:PHR)

Want More Great Investing Ideas?

Receive News & Ratings for Phreesia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phreesia and related companies with MarketBeat.com's FREE daily email newsletter.