Canaccord Genuity Group reissued their buy rating on shares of Phreesia (NYSE:PHR – Free Report) in a research note released on Friday, Benzinga reports. Canaccord Genuity Group currently has a $46.00 price target on the stock.
Other analysts have also recently issued reports about the company. KeyCorp dropped their price target on Phreesia from $45.00 to $40.00 in a research report on Thursday, May 25th. Robert W. Baird reduced their target price on shares of Phreesia from $41.00 to $40.00 in a research report on Friday, June 2nd. Finally, Stephens reissued an overweight rating and issued a $37.00 price target on shares of Phreesia in a research note on Tuesday, August 15th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Phreesia currently has an average rating of Moderate Buy and a consensus price target of $38.92.
Read Our Latest Research Report on PHR
Phreesia Price Performance
Phreesia (NYSE:PHR – Get Free Report) last announced its earnings results on Wednesday, May 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.80) by $0.10. Phreesia had a negative net margin of 53.89% and a negative return on equity of 53.25%. The business had revenue of $83.85 million for the quarter, compared to analyst estimates of $80.64 million. During the same quarter last year, the business earned ($0.99) earnings per share. As a group, equities research analysts anticipate that Phreesia will post -2.71 earnings per share for the current fiscal year.
Insider Activity at Phreesia
In other Phreesia news, SVP Michael J. Davidoff sold 1,075 shares of Phreesia stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $31.75, for a total transaction of $34,131.25. Following the completion of the sale, the senior vice president now directly owns 93,576 shares in the company, valued at $2,971,038. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.80% of the stock is owned by insiders.
Hedge Funds Weigh In On Phreesia
A number of hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. lifted its stake in Phreesia by 2.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 15,825 shares of the company’s stock worth $512,000 after purchasing an additional 352 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Phreesia by 3.3% during the first quarter. Arizona State Retirement System now owns 14,460 shares of the company’s stock worth $467,000 after purchasing an additional 456 shares in the last quarter. State of Wyoming boosted its stake in shares of Phreesia by 34.6% in the second quarter. State of Wyoming now owns 1,918 shares of the company’s stock valued at $59,000 after purchasing an additional 493 shares during the period. American International Group Inc. increased its stake in Phreesia by 2.6% during the 2nd quarter. American International Group Inc. now owns 24,588 shares of the company’s stock worth $762,000 after buying an additional 616 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Phreesia by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,545 shares of the company’s stock worth $637,000 after buying an additional 710 shares in the last quarter. Hedge funds and other institutional investors own 94.37% of the company’s stock.
About Phreesia
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 access solutions that offers appointment scheduling system for online appointments, reminders, and referral tracking; 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.
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