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These Analysts Slash Their Forecasts On Phreesia Following Q2 Results

Phreesia, Inc. (NYSE: PHR) reported a wider-than-expected second-quarter loss.
byLisa Levin
September 7, 2023
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Phreesia, Inc. (NYSE:PHR) reported a wider-than-expected second-quarter loss.

Phreesia posted a quarterly loss of 68 cents per share, wider than market expectations for a loss of 42 cents per share. The company’s quarterly sales came in at $85.83 million versus estimates of $85.22 million.

Phreesia said it sees FY24 revenue of $353 million to $356 million, versus estimates of $355.27 million.

Phreesia shares dipped 17.6% to trade at $25.00 on Thursday.

These analysts made changes to their price targets on Phreesia following earnings announcement.

RBC Capital cut the price target on Phreesia from $33 to $29. RBC Capital analyst Sean Dodge maintained a Sector Perform rating.

Citigroup slashed the price target on Phreesia from $40 to $37. Citigroup analyst Daniel Grosslight maintained a Buy rating.

Needham analyst Ryan MacDonald, meanwhile, reiterated Phreesia with a Buy and maintained a $40 price target.

Stephens & Co. analyst Jeff Garro reiterated Phreesia with an Overweight and maintained a $37 price target.

Check This Out: Top 5 Health Care Stocks That May Explode In Q3

 
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