Robert W. Baird Increases Phreesia (NYSE:PHR) Price Target to $62.00

Phreesia (NYSE:PHR) had its price target boosted by Robert W. Baird from $60.00 to $62.00 in a research report sent to investors on Monday morning, The Fly reports. They currently have an outperform rating on the stock.

Other research analysts have also recently issued reports about the company. Zacks Investment Research cut Phreesia from a hold rating to a sell rating in a research note on Wednesday, April 14th. JPMorgan Chase & Co. initiated coverage on Phreesia in a research report on Thursday, April 29th. They set an overweight rating for the company. KeyCorp lowered their price objective on Phreesia from $80.00 to $70.00 and set an overweight rating for the company in a research report on Wednesday, March 31st. They noted that the move was a valuation call. SVB Leerink reaffirmed a buy rating on shares of Phreesia in a research report on Sunday, June 6th. Finally, Piper Sandler upped their target price on Phreesia from $58.00 to $63.50 and gave the company an overweight rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. Phreesia currently has a consensus rating of Buy and a consensus price target of $56.96.

PHR stock opened at $57.41 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.95 and a quick ratio of 4.95. The stock has a market cap of $2.90 billion, a P/E ratio of -84.43 and a beta of 1.18. Phreesia has a 12-month low of $26.20 and a 12-month high of $81.59. The company has a fifty day moving average price of $50.14.

Phreesia (NYSE:PHR) last posted its quarterly earnings data on Monday, June 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.06). The firm had revenue of $48.30 million during the quarter, compared to analysts’ expectations of $42.82 million. Phreesia had a negative net margin of 18.36% and a negative return on equity of 14.94%. Phreesia’s quarterly revenue was up 44.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.16) EPS. Sell-side analysts expect that Phreesia will post -0.68 EPS for the current fiscal year.

In related news, SVP David Linetsky sold 48,482 shares of the stock in a transaction on Monday, March 15th. The stock was sold at an average price of $61.15, for a total value of $2,964,674.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Edward L. Cahill sold 15,000 shares of the firm’s stock in a transaction dated Thursday, April 1st. The shares were sold at an average price of $54.94, for a total value of $824,100.00. The disclosure for this sale can be found here. Insiders have sold 65,616 shares of company stock worth $3,896,563 in the last 90 days. Insiders own 28.20% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in PHR. Price T Rowe Associates Inc. MD increased its position in shares of Phreesia by 81.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,274,230 shares of the company’s stock worth $222,687,000 after acquiring an additional 1,916,211 shares during the last quarter. BlackRock Inc. grew its stake in Phreesia by 20.0% in the first quarter. BlackRock Inc. now owns 3,706,789 shares of the company’s stock worth $193,124,000 after purchasing an additional 616,536 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Phreesia by 175.8% in the fourth quarter. Janus Henderson Group PLC now owns 628,504 shares of the company’s stock valued at $34,103,000 after acquiring an additional 400,581 shares during the period. Lazard Asset Management LLC boosted its stake in Phreesia by 923.8% in the fourth quarter. Lazard Asset Management LLC now owns 373,489 shares of the company’s stock valued at $20,265,000 after acquiring an additional 337,009 shares during the period. Finally, Brown Advisory Inc. boosted its stake in Phreesia by 17.8% in the fourth quarter. Brown Advisory Inc. now owns 2,025,844 shares of the company’s stock valued at $109,922,000 after acquiring an additional 305,477 shares during the period. 92.90% of the stock is currently owned by institutional investors and hedge funds.

Phreesia Company Profile

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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