Phreesia shares jump on upbeat FY forecast

Phreesia

09/12/2022 17:05

** Shares of software company Phreesia Inc  PHR.N  up 11.7%
at $29.84
    ** Stock trading at a more than eight-month high
    ** PHR raises FY23 revenue outlook to at least $278 mln from
a range of $273 mln-$275 mln forecast earlier; new outlook
implies a year-on-year growth of 30%
    ** Company reports FY23 Q3 revenue of $73.1 mln vs $55.9 mln
a year earlier and est $70.9 mln - Refinitiv
    ** PHR expects to return to profitability in 2025
    ** After results, SVB Securities raised rating on stock to
"outperform" from "market perform"
    ** Brokerages such as RBC, Citigroup and Piper Sandler
raised PT after results
    ** 12 of 15 brokerages rate stock "buy" or higher, 3 "hold";
median PT is $34.5 - Refinitiv
    ** Including session's gain, stock down 28.2% YTD
 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com))