In a recent transaction, Evan Roberts, the Chief Operating Officer of Phreesia, Inc. (NYSE:PHR), sold 3,148 shares of the company's common stock. The sale, which took place on September 10, 2024, amounted to a total value of $73,191, based on the weighted average price of $23.2502 per share.
The shares sold by Roberts ranged in price from $22.94 to $23.17, as detailed in the footnotes of the filing. This sale was part of a non-discretionary transaction pursuant to the issuer's mandatory sell-to-cover policy, which is designed to cover tax withholding obligations related to the settlement of restricted stock units (RSUs).
Following the transaction, Roberts still holds a substantial stake in the company, with 755,719 shares of Phreesia, Inc. remaining in his possession.
This financial move by a high-ranking executive of Phreesia, Inc. comes as a notable event for investors and market watchers, providing insight into the trading activities of the company's insiders. Roberts's transaction was executed in compliance with the company's policies and was promptly disclosed in accordance with regulatory requirements.
In other recent news, Phreesia Inc . has seen a flurry of analyst activity following its second-quarter financial results. The healthcare software company reported a 19% year-over-year revenue increase, exceeding expectations by 1%, and a positive EBITDA of $7 million, beating the consensus estimate of $4 million. Financial services firm Baird upgraded its price target for Phreesia to $34, citing the company's strong growth outlook. Similarly, Truist Securities increased its price target to $31 due to revised expectations for fiscal year 2026, particularly concerning revenue growth and margin expansion.
Piper Sandler maintained its Overweight rating on Phreesia shares with a consistent price target of $30, expressing a positive outlook on the company's financial performance. Canaccord Genuity also held steady with a Buy rating and a price target of $34, highlighting Phreesia's operational efficiency and long-term profitability focus. Needham reaffirmed a Buy rating and a price target of $29, projecting a potential double in the adjusted EBITDA margin year over year.
These recent developments underscore Phreesia's drive toward sustained profitable growth. The company has maintained its revenue outlook for fiscal year 2025 and raised its EBITDA forecast by $5 million at the midpoint. This shift toward profitability is reflected in the company's recent financial performance and the positive outlook from multiple analyst firms.
InvestingPro Insights
As investors evaluate the significance of the insider sale by Phreesia, Inc.'s (NYSE:PHR) Chief Operating Officer, Evan Roberts, InvestingPro provides a deeper look into the company's financial health and market performance. According to an analysis by InvestingPro, Phreesia has been facing some challenges, as reflected by the recent downward revision of earnings by analysts. With seven analysts having revised their earnings upwards for the upcoming period, there seems to be a mixed sentiment about the company's short-term profitability prospects.
InvestingPro Data reveals that Phreesia's market capitalization currently stands at $1.37 billion, and the stock has experienced a substantial price fluctuation over the last week, with a 1 Week Price Total Return of -7.51%. This volatility is noteworthy for investors, especially considering that the company's Price / Book ratio is relatively high at 5.46, which suggests that the stock is trading at a premium compared to the company's book value as of the last twelve months.
Moreover, Phreesia's revenue growth remains robust, with an increase of 22.1% over the last twelve months. This indicates that despite the stock's recent performance and the lack of profitability over the same period, the company is expanding its top-line figures. It's also worth noting that Phreesia does not pay dividends, which might be a factor for income-focused investors to consider.
For those interested in a more in-depth analysis, InvestingPro has additional InvestingPro Tips on Phreesia, Inc. that provide a comprehensive understanding of the company's financial outlook and stock performance. In total, there are 8 InvestingPro Tips available for Phreesia, Inc. at https://www.investing.com/pro/PHR, which can offer valuable insights for those considering an investment in the company.
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