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Investing.com - Citizens JMP raised its price target on Phreesia Inc. (NYSE:PHR) to $34.00 from $30.00 while maintaining a Market Outperform rating on the healthcare technology company. According to InvestingPro data, the company maintains a "GREAT" financial health score, with analyst targets ranging from $30 to $38.
The price target increase follows Phreesia’s announcement last Thursday of its acquisition of RCM player AccessOne for $160 million, marking the largest acquisition in the company’s history.
Phreesia also reported its fiscal second-quarter 2026 results, which exceeded analyst expectations. The company posted estimated non-GAAP earnings per share of $0.27, above the prior consensus of $0.20, and adjusted EBITDA of $22.1 million, surpassing the prior consensus of $20.0 million.
Total revenue for the quarter reached $117.3 million, slightly above the prior consensus of $116.5 million, representing a 15% year-over-year increase, consistent with the previous quarter’s growth rate.
Despite the positive results and acquisition news, Phreesia’s stock fell 10% in trading on Friday, though it remains up 12% year-to-date, outperforming the Russell 3000’s 10% gain for the same period.
In other recent news, Phreesia Inc . has reported several significant developments. The company announced its largest acquisition to date, a $160 million purchase of AccessOne, which is expected to add approximately $35 million in annual revenue and $11 million in EBITDA. Alongside this, Phreesia’s recent earnings report exceeded expectations, leading Needham to raise its price target to $35 while maintaining a Buy rating. Additionally, Raymond James increased its price target to $33, also maintaining an Outperform rating, following the acquisition announcement.
Canaccord Genuity raised its price target to $38, citing an expanded total addressable market (TAM) for Phreesia, which has grown significantly due to AccessOne’s financing solutions. DA Davidson assumed coverage with a Buy rating and a $33 price target, noting that Phreesia’s revenue and adjusted EBITDA results surpassed consensus expectations. Meanwhile, Truist Securities reiterated a Sell rating with a $36 price target, though it raised its FY26/27 EBITDA estimates to $90 million and $110 million, respectively. These recent developments highlight a period of strategic growth and financial performance for Phreesia.
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