Needham Sticks to Their Buy Rating for Phreesia (PHR)

Needham analyst Ryan MacDonald reiterated a Buy rating on Phreesia (PHRResearch Report) today and set a price target of $35.00. The company’s shares closed yesterday at $23.92.

MacDonald covers the Technology sector, focusing on stocks such as Verint Systems, 2U, and Yext. According to TipRanks, MacDonald has an average return of 12.0% and a 48.41% success rate on recommended stocks.

Phreesia has an analyst consensus of Moderate Buy, with a price target consensus of $32.00, representing a 33.78% upside. In a report released today, JMP Securities also maintained a Buy rating on the stock with a $34.00 price target.

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PHR market cap is currently $1.25B and has a P/E ratio of -6.84.

Based on the recent corporate insider activity of 81 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PHR in relation to earlier this year. Most recently, in July 2022, VanDuyn Amy Beth, the SVP HR of PHR bought 20,000.00 shares for a total of $16,800.00.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Phreesia, Inc. provides patient check-in solutions for medical practices. It provides solutions that transform the healthcare experience by engaging patients in their care and enabling healthcare provider organizations to optimize operational efficiency, improve profitability and enhance clinical care. Through the SaaS-based Phreesia Platform the company offers healthcare provider organizations a robust suite of solutions to manage the patient intake process and a payments solution for secure processing of patient payments. Its platform also provides life sciences companies with an engagement channel for targeted and direct communication with patients. Phreesia was founded by Chaim Indig and Evan Roberts in January 2005 and is headquartered in New York, NY.

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