UPDATE: KeyBanc Starts Phreesia Inc. (PHR) at Overweight

(updating comment)

KeyBanc analyst Donald Hooker initiates coverage on Phreesia Inc. (NYSE: PHR) with a Overweight rating and a price target of $36.00.

The analyst comments "We are initiating coverage of PHR with an Overweight rating as a way for investors to play the trend toward U.S. healthcare consumerism. With a ~$7B TAM, we see plenty of room for PHR to sustain ~20% growth over the next several years. EHR software vendors could emerge as a competitive threat in the mid/long term. However, this is unlikely to impact PHR’s growth prospects near term. Our valuation implies ~8x CY21E revenues, which is in line with SaaS and payment processing companies with similar growth and margin profiles."

For an analyst ratings summary and ratings history on Phreesia Inc. click here. For more ratings news on Phreesia Inc. click here.

Shares of Phreesia Inc. closed at $31.18 yesterday.

You May Also Be Interested In