Phreesia (PHR) is making headlines in the stock market as it opened at $32.65 on Monday. The healthcare technology company has a 50-day moving average of $31.06 and a 200-day moving average of $32.59 with a market cap of $1.75 billion. It also has a debt-to-equity ratio of 0.01, current ratio of 3.32 and quick ratio of 3.32. Despite having a price-to-earnings ratio of -10.64 and beta value of 0.62, Phreesia continues to receive high target prices from firms such as JMP Securities, KeyCorp, Stephens, Robert W Baird, and Royal Bank of Canada.
As for recent developments in the company, Director Mark Douglas Smith sold 7,000 shares while SVP Amy Beth Vanduyn sold almost 3,000 shares in early April this year; insiders have reportedly sold over 26,800 shares worth $834,743 in the last three months.
Despite these developments, Phreesia announced positive quarterly earnings results last May where it reported beating consensus estimates by recording ($0.70) earnings per share instead of ($0.80). The firm’s revenue also crossed scrutiny after reporting $83.85 million instead of analyst estimates which projected only $80 million.
Phreesia is credited mainly for its digital health survey platform that enables patients to expedite their registration processes while allowing medical practitioners to collect vital information before scheduling appointments [Tech Crunch]. Being listed at the NYSE since March earlier this year with underwriters J.P Morgan Securities LLC., Wells Fargo Securities LLC., William Blair & Company, L.L.C., and Canaccord Genuity LLC added to its portfolio raised around $167 million with an initial public offering price between $12-$14 a share [Marketwatch]. Overall, Phreesia continues to make strides with its technical innovations while receiving moderate buy ratings from over ten equity research analysts.
Updated on: 21/09/2023
Debt to equity ratio: Neutral
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
11:00 PM (UTC)
Date:20 September, 2023
|Analyst / firm||Rating|
Phreesia’s Q2 2024 Earnings Potential Questioned by Analysts, Yet Institutional Investors Hold Steady
In the dizzying world of finance, analysts and investors alike are always on the hunt for the next big opportunity. With Phreesia, Inc. (NYSE:PHR), a digital healthcare company that provides patient intake solutions, there seems to be some disagreement among experts about its earnings potential for Q2 2024. Investment analysts at SVB Leerink have dropped their Q2 2024 earnings per share estimates for Phreesia in a recent research report, indicating some doubt about the company’s growth trajectory.
In particular, analyst S. Davis has lowered their forecast for the company’s quarterly earnings per share (EPS) expectations from ($0.77) to ($0.80). The consensus estimate for Phreesia’s current full-year earnings is projected to be ($2.82) per share, with further estimates also issued by SVB Leerink.
Despite these projections, it seems institutional investors and hedge funds have yet to lose faith in Phreesia’s endeavors as they continue to move forward with modifying their holdings in the stock. For instance, Macquarie Group Ltd., grew its stake in shares of Phreesia by an impressive 159.7% during Q1 2021 alone, while Putnam Investments LLC recently acquired a new stake in the company worth $1,195,000.
Ameriprise Financial Inc., JPMorgan Chase & Co., and New York State Common Retirement Fund have also followed this trend by acquiring positions themselves. With such investments made by industry insiders who understand their inner workings fully well, it seems like investors may consider investing with confidence in Phreesia alongside savvy professionals.
While it is no secret that investment strategies’ success may vary across different markets and companies alike, those who track such trends suggest reconsidering diversifying one’s portfolio beyond this investment avenue alone – to take into account other alternative prospects capable of generating returns suitable for distinctive investor needs and comfort levels.