Phreesia rises on upbeat forecast, results

Phreesia

08/09/2022 15:29

** Shares of Phreesia Inc  PHR.N  up 18.4% at $28.34 in
morning trade - stock's best day ever
    ** PHR on Wednesday posted Q2 revenue above ests and 
smaller-than-expected loss  urn:newsml:reuters.com:*:nBw3Yb1Pca
    ** Co now expects FY23 revenue between $273 mln and $275
mln, up from $271 mln to $275 mln
    ** Guggenheim, which raises PT by $5 to $35, says guidance
for FY23 includes faster account growth and lower burn, leading
to increased likelihood PHR achieves FY25 revenue and EBITDA
targets without needing to raise additional capital
    ** Avg. rating of 13 analysts is "buy"; median PT is $35 -
Refinitiv data
    ** Stock down ~32% YTD
    

 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))