Baird downgraded Phreesia (PHR) to Neutral from Outperform with a price target of $10, down from $25. The company’s fiscal 2027 revenue outlook was lowered by 7% as its Network Solutions units deals with lower marketing spending commitments from specific brands, the analyst tells investors in a research note. The firm sees this as extending the AI overhang around the stock. Confidence in Phreesia’s growth trajectory is “most important and this has become more variable,” contends Baird.
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