Phreesia price target raised to $37 from $33 at Piper Sandler

Piper Sandler analyst Jessica Tassan raised the firm’s price target on Phreesia to $37 from $33 and keeps an Overweight rating on the shares post the Q3 results. The company launched MemberConnect and entered the payor market in the quarter, and with a "unique portfolio of highly synergistic assets," it can now monetize four distinct stakeholders in the same healthcare delivery supply chain, Tassan tells investors in a research note. The analyst says participation in the payor market diversifies the revenue model and "de-risks the path" to Phreesia’s fiscal 2025 targets. She would remain a buyer of the stock "following last night’s strong results."