Raymond James Trims Phreesia (NYSE:PHR) Target Price to $34.00

Phreesia (NYSE:PHR – Get Rating) had its price objective dropped by research analysts at Raymond James from $45.00 to $34.00 in a note issued to investors on Monday, The Fly reports. Raymond James’ target price points to a potential upside of 67.32% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. reduced their price target on shares of Phreesia from $51.00 to $42.00 in a report on Thursday, March 31st. Canaccord Genuity Group reduced their price target on shares of Phreesia from $81.00 to $49.00 in a report on Thursday, March 31st. SVB Leerink reduced their price objective on shares of Phreesia from $29.00 to $22.00 and set a “market perform” rating for the company in a report on Friday. Piper Sandler reduced their price objective on shares of Phreesia from $54.00 to $42.00 in a report on Monday, April 4th. Finally, Guggenheim reduced their price objective on shares of Phreesia from $45.00 to $30.00 and set a “buy” rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Phreesia presently has an average rating of “Buy” and a consensus price target of $44.47.

PHR stock opened at $20.32 on Monday. 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 1-year low of $13.19 and a 1-year high of $76.10. The firm has a fifty day moving average price of $22.69 and a two-hundred day moving average price of $32.12. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -6.60 and a beta of 1.39.

Phreesia (NYSE:PHR – Get Rating) last announced its quarterly 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 69.40% and a negative return on equity of 34.90%. The company had revenue of $63.35 million during the quarter, compared to the consensus estimate of $62.24 million. During the same quarter in the previous year, the company posted ($0.24) earnings per share. The company’s revenue for the quarter was up 31.2% compared to the same quarter last year. As a group, 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 the business’s stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $17.07, for a total value of $66,726.63. Following the sale, the general counsel now directly owns 115,099 shares in the company, valued at $1,964,739.93. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.50% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Phreesia by 5.8% during the 1st quarter. BlackRock Inc. now owns 6,359,641 shares of the company’s stock worth $167,640,000 after buying an additional 349,301 shares during the period. Vanguard Group Inc. increased its holdings in shares of Phreesia by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 3,510,495 shares of the company’s stock valued at $92,536,000 after purchasing an additional 44,021 shares during the period. Credit Suisse AG increased its holdings in shares of Phreesia by 11.3% in the 4th quarter. Credit Suisse AG now owns 1,763,523 shares of the company’s stock valued at $73,468,000 after purchasing an additional 179,222 shares during the period. Brown Advisory Inc. increased its holdings in shares of Phreesia by 27.4% in the 1st quarter. Brown Advisory Inc. now owns 1,649,403 shares of the company’s stock valued at $43,680,000 after purchasing an additional 354,378 shares during the period. Finally, Echo Street Capital Management LLC increased its holdings in shares of Phreesia by 254.5% in 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 purchasing an additional 866,654 shares during the period. Hedge funds and other institutional investors own 94.29% of the company’s stock.

Phreesia Company Profile (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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