Phreesia (NYSE:PHR) Shares Gap Down After Analyst Downgrade

Phreesia, Inc. (NYSE:PHR)’s stock price gapped down before the market opened on Wednesday after JPMorgan Chase & Co. downgraded the stock from a neutral rating to an underweight rating. The stock had previously closed at $13.13, but opened at $12.32. JPMorgan Chase & Co. now has a $13.00 price target on the stock. Phreesia shares last traded at $12.6350, with a volume of 105,100 shares changing hands.

A number of other equities research analysts have also issued reports on PHR. Barclays raised their price target on shares of Phreesia from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Monday, October 12th. Wall Street Zen downgraded shares of Phreesia from a “buy” rating to a “hold” rating in a research note on Saturday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price objective on shares of Phreesia in a research note on Monday, August 31st. Royal Bank Of Canada reiterated an “outperform” rating and set a $19.00 target price on shares of Phreesia in a report on Thursday, September 3rd. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $16.00 target price on shares of Phreesia in a research note on Thursday, September 3rd. Eight research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $13.87.

Insider Activity at Phreesia

In related news, General Counsel Allison C. Hoffman sold 6,662 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $10.08, for a total transaction of $67,152.96. Following the completion of the transaction, the general counsel owned 266,574 shares in the company, valued at $2,687,065.92. This represents a 2.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 5.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PHR. Focus Advisor Solutions LLC boosted its stake in shares of Phreesia by 20.4% during the 3rd quarter. Focus Advisor Solutions LLC now owns 19,810 shares of the company’s stock valued at $205,000 after purchasing an additional 3,362 shares in the last quarter. Voya Investment Management LLC increased its position in shares of Phreesia by 3.6% during the third quarter. Voya Investment Management LLC now owns 63,460 shares of the company’s stock valued at $656,000 after buying an additional 2,206 shares during the period. Edgestream Partners L.P. bought a new position in Phreesia in the third quarter worth about $212,000. Diversified Trust Co raised its stake in Phreesia by 56.9% in the third quarter. Diversified Trust Co now owns 29,956 shares of the company’s stock worth $309,000 after buying an additional 10,868 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Phreesia by 3.2% in the third quarter. Russell Investments Group Ltd. now owns 326,167 shares of the company’s stock worth $3,329,000 after buying an additional 10,172 shares in the last quarter. 92.10% of the stock is owned by hedge funds and other institutional investors.

Phreesia Trading Down 3.4%

The company has a debt-to-equity ratio of 0.33, a current ratio of 1.76 and a quick ratio of 1.76. The stock’s 50 day moving average is $11.17 and its 200-day moving average is $10.87. The company has a market capitalization of $787.31 million, a P/E ratio of 74.62 and a beta of 0.75.

Phreesia (NYSE:PHR) last posted its quarterly earnings data on Wednesday, September 2nd. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.06). The firm had revenue of $129.46 million for the quarter, compared to the consensus estimate of $129.06 million. Phreesia had a net margin of 2.06% and a return on equity of 5.22%. The business’s revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 earnings per share. As a group, equities research analysts anticipate that Phreesia, Inc. will post 0.33 earnings per share for the current year.

Phreesia Company Profile

Phreesia, Inc. provides software and services that help healthcare organizations manage interactions with patients. Its platform supports tasks such as patient registration and intake, appointment scheduling, payments, and communications before and after visits. Phreesia’s tools include digital and mobile options for completing forms and sharing information, as well as services designed to help providers engage patients and streamline administrative workflows. The company serves healthcare providers and organizations primarily in the United States.