Phreesia (NYSE:PHR) Sets New 52-Week High – Time to Buy?

Phreesia, Inc. (NYSE:PHR) shares reached a new 52-week high on Wednesday . The company traded as high as $29.36 and last traded at $29.25, with a volume of 641745 shares traded. The stock had previously closed at $26.98.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Citigroup lifted their price target on Phreesia from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Needham & Company LLC reiterated a “buy” rating and set a $29.00 price target on shares of Phreesia in a report on Friday, January 10th. Piper Sandler restated an “overweight” rating and set a $33.00 price objective (up from $31.00) on shares of Phreesia in a research note on Wednesday. Royal Bank of Canada upgraded shares of Phreesia from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $24.00 to $32.00 in a research note on Wednesday, January 8th. Finally, KeyCorp raised their price target on shares of Phreesia from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat.com, Phreesia presently has an average rating of “Buy” and a consensus target price of $31.15.

Phreesia Trading Up 1.1 %

The firm has a market capitalization of $1.69 billion, a P/E ratio of -19.75 and a beta of 0.94. The firm has a fifty day simple moving average of $24.78 and a two-hundred day simple moving average of $23.24. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.74 and a quick ratio of 1.74.

Phreesia (NYSE:PHR) last issued its earnings results on Monday, December 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.04. The business had revenue of $106.80 million for the quarter, compared to analysts’ expectations of $106.33 million. Phreesia had a negative net margin of 20.43% and a negative return on equity of 32.78%. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.58) EPS. On average, equities research analysts anticipate that Phreesia, Inc. will post -1.1 earnings per share for the current fiscal year.

Insider Transactions at Phreesia

In related news, General Counsel Allison C. Hoffman sold 3,495 shares of Phreesia stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $24.88, for a total transaction of $86,955.60. Following the completion of the sale, the general counsel now owns 116,296 shares of the company’s stock, valued at approximately $2,893,444.48. This trade represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Weintraub sold 15,152 shares of Phreesia stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $21.01, for a total value of $318,343.52. Following the sale, the director now owns 242,827 shares of the company’s stock, valued at approximately $5,101,795.27. This trade represents a 5.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 165,653 shares of company stock valued at $4,176,464. 5.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Champlain Investment Partners LLC lifted its position in Phreesia by 4.1% in the third quarter. Champlain Investment Partners LLC now owns 2,503,837 shares of the company’s stock valued at $57,062,000 after purchasing an additional 97,847 shares during the last quarter. Franklin Resources Inc. raised its holdings in Phreesia by 3.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,497,631 shares of the company’s stock valued at $31,495,000 after buying an additional 42,973 shares during the last quarter. State Street Corp boosted its position in Phreesia by 7.1% during the 3rd quarter. State Street Corp now owns 1,327,586 shares of the company’s stock valued at $30,256,000 after buying an additional 88,517 shares during the period. Geode Capital Management LLC grew its holdings in Phreesia by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,245,797 shares of the company’s stock worth $28,397,000 after acquiring an additional 55,934 shares during the last quarter. Finally, TimesSquare Capital Management LLC increased its position in shares of Phreesia by 2.3% in the third quarter. TimesSquare Capital Management LLC now owns 868,409 shares of the company’s stock valued at $19,791,000 after acquiring an additional 19,395 shares during the period. 92.10% of the stock is owned by institutional investors.

Phreesia Company Profile

Phreesia, Inc provides an integrated SaaS-based software and payment platform for the healthcare industry in the United States and Canada. The company offers access solutions that offers appointment scheduling system for online appointments, reminders, and referral tracking management; registration solution to automate patient self-registration; revenue cycle solution, which offer insurance-verification processes, point-of-sale payments applications, post-visit payment collection, and flexible payment options; and network connect solution to deliver clinically relevant content to patients.