Phreesia (NYSE:PHR) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Phreesia (NYSE:PHR) from a buy rating to a hold rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Several other brokerages also recently weighed in on PHR. Wells Fargo & Company upped their target price on Phreesia from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Thursday. Canaccord Genuity Group restated a “buy” rating and set a $16.00 price objective on shares of Phreesia in a research report on Thursday, September 3rd. Weiss Ratings raised shares of Phreesia from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, July 20th. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 target price on shares of Phreesia in a research report on Monday, August 31st. Finally, Barclays reiterated an “equal weight” rating and issued a $10.00 target price (down from $24.00) on shares of Phreesia in a research report on Thursday, May 14th. Eight investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $14.00.

Phreesia Stock Performance

Shares of NYSE PHR opened at $10.97 on Friday. The company’s fifty day moving average price is $11.26 and its 200 day moving average price is $10.46. Phreesia has a 1 year low of $7.77 and a 1 year high of $30.43. The company has a market capitalization of $680.91 million, a PE ratio of 64.53 and a beta of 0.86. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.76 and a current ratio of 1.76.

Phreesia (NYSE:PHR) last released its quarterly earnings data on Wednesday, September 2nd. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). The firm had revenue of $129.46 million during the quarter, compared to analysts’ expectations of $129.06 million. Phreesia had a net margin of 2.06% and a return on equity of 5.22%. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.01 EPS. On average, research analysts predict that Phreesia will post 0.38 earnings per share for the current year.

Hedge Funds Weigh In On Phreesia

Hedge funds and other institutional investors have recently modified their holdings of the business. Pale Fire Capital SE grew its stake in Phreesia by 3.2% during the 2nd quarter. Pale Fire Capital SE now owns 8,924,329 shares of the company’s stock valued at $91,831,000 after acquiring an additional 275,000 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Phreesia during the 2nd quarter worth approximately $72,234,000. Vanguard Group Inc. boosted its holdings in shares of Phreesia by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 5,744,326 shares of the company’s stock worth $97,194,000 after purchasing an additional 39,540 shares during the last quarter. Granahan Investment Management LLC grew its position in shares of Phreesia by 73.8% in the fourth quarter. Granahan Investment Management LLC now owns 2,399,613 shares of the company’s stock valued at $40,601,000 after purchasing an additional 1,018,987 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Phreesia by 28.8% in the fourth quarter. Franklin Resources Inc. now owns 2,000,082 shares of the company’s stock valued at $33,841,000 after purchasing an additional 446,890 shares in the last quarter. 92.10% of the stock is owned by hedge funds and other institutional investors.

About Phreesia

Phreesia, Inc (NYSE: PHR) is a provider of patient intake management solutions designed to streamline front-office workflows for healthcare organizations. The company’s cloud-based platform digitizes patient registration, appointment scheduling, insurance verification, consent documentation and payment collection through touchscreen kiosks, tablets and mobile devices. By replacing paper forms and manual processes, Phreesia enhances data accuracy, reduces administrative burden and improves the patient experience.

Founded in 2000 by Chaim Indig and headquartered in Burlington, Massachusetts, Phreesia offers a modular software suite that integrates with electronic medical record (EMR) and practice management systems.