JPMorgan Chase & Co. has adjusted its price target for Phreesia (NYSE: PHR) from $32.00 to $29.00, according to a research note released on Tuesday. Despite this reduction, JPMorgan maintains an “overweight” rating on the stock. This latest adjustment comes amidst a flurry of mixed ratings from various financial analysts, reflecting differing perspectives on the company’s prospects.
Analysts’ Ratings and Price Targets
Phreesia has been the subject of multiple assessments recently. On September 8, JMP Securities raised its target price for Phreesia from $30.00 to $34.00, granting the company a “market outperform” rating. Citigroup also reiterated an “outperform” rating on the same date. In contrast, Weiss Ratings issued a “sell (e+)” rating on October 31, indicating a more cautious outlook. Additionally, Needham & Company LLC reaffirmed a “buy” rating with a target price set at $35.00, while Stephens reissued an “overweight” rating with a target of $32.00.
Overall, one investment analyst has rated Phreesia with a “Strong Buy,” while sixteen analysts have given a “Buy” rating, and one has issued a “Sell” rating. According to MarketBeat, the current consensus rating for Phreesia stands at “Moderate Buy,” with an average price target of $31.13.
Recent Financial Performance
In its most recent quarterly earnings report released on December 8, Phreesia reported earnings per share (EPS) of $0.10, surpassing analysts’ expectations of a loss of $0.01 by $0.11. The company’s revenue for the quarter reached $120.33 million, slightly exceeding the projected $119.98 million. Year-over-year, Phreesia’s revenue increased by 12.7%. The company, however, reported a negative return on equity of 1.31% and a negative net margin of 1.16%. Analysts predict that Phreesia will post an EPS of -1.1 for the current year.
In terms of insider trading, Chief Financial Officer Balaji Gandhi sold 4,183 shares on September 16 at an average price of $23.28, totaling $97,380.24. Post-transaction, Gandhi holds 99,125 shares valued at approximately $2,307,630, reflecting a 4.05% decrease in ownership. Similarly, insider David Linetsky sold 2,165 shares on September 16 for $50,401.20, resulting in a 1.22% decrease in his stock holding.
Over the last quarter, insiders sold a total of 26,174 shares worth $603,835. Currently, company insiders own 5.50% of Phreesia’s stock.
Institutional Investors’ Moves
Recent activity among institutional investors shows significant changes in their positions regarding Phreesia. Cubist Systematic Strategies LLC acquired a new position in the company worth approximately $774,000 during the first quarter. Meanwhile, Farther Finance Advisors LLC increased its stake by an impressive 9,375.0% in the second quarter, now holding 3,032 shares valued at $86,000.
Other investors, such as Arcadia Investment Management Corp MI, raised their holdings by 22.3% during the same period, now owning 113,470 shares worth $3,229,000. Additionally, Acadian Asset Management LLC boosted its stake by 61.6%, owning 364,194 shares valued at $10,357,000. In total, institutional investors and hedge funds control 92.10% of Phreesia’s stock.
About Phreesia
Phreesia, Inc. is a provider of an integrated SaaS-based software and payment platform tailored for the healthcare sector in the United States and Canada. The company offers a variety of solutions, including appointment scheduling, patient self-registration, insurance verification, and flexible payment options.
As the market adjusts to these developments, Phreesia continues to navigate challenges and opportunities in a rapidly evolving healthcare technology landscape.
