Phreesia initiated with an Overweight at Stephens

Stephens initiated coverage of Phreesia with an Overweight rating and $37 price target. The company has delivered strong growth since entering the public markets in 2019 by resolving the often painful patient intake process in a way that creates value for all involved, the analyst tells investors in a research note. The market rejected a series of market share grabbing and addressable market expanding investments since mid-2021, but over the last year, investors have regained some confidence in Phreesia generating returns on recent investments, Stephens added.