Phreesia drops on wider Q4 loss, analysts cut PTs

Phreesia

31/03/2022 12:17

** Shares of Phreesia Inc  PHR.N  down ~6% at $27.6; among
top three pct losers among NYSE-listed stocks trading premarket
    ** Posts Q4 net loss of $46.45 mln vs $8.42 mln a year
earlier, dragged by higher expenses  urn:newsml:reuters.com:*:nBw5XjPQ8a
    ** Total expenses rise to $104.64 mln from $50.1 mln in the
same period last year
    ** The medical software developer reports a 39% y/y jump in
revenue to $58 mln 
    ** At three brokerages have cut PT on co's stock, with SVB
Leerink at a Street low of $29
    ** The magnitude of the guided FY23 EBITDA burn was worse
than we anticipated, JPM says
    ** 10 of 13 brokerages rate the stock "buy" or higher and 3
"hold"; their median PT is $54 vs $55 a month ago
    ** Up to Wednesday's close, stock had fallen ~29% YTD
compared with the S&P 500 index's  .SPX  4.05% decline

 (Reporting by Sohini Podder in Bengaluru)
 ((sohini.podder@thomsonreuters.com))