Phreesia price target lowered to $20 from $32 at Stephens

Stephens analyst Jeff Garro lowered the firm’s price target on Phreesia (PHR) to $20 from $32 and keeps an Overweight rating on the shares. Shares will be pressured on reduced FY27 revenue guidance in what the firm calls “an unsurprising yet still disappointing development given the initial revenue guidance was below expectations and viewed as a modest reset.” However, the firm is still convicted long-term as it argues that Phreesia has the right strategy to build a stronger network/platform and monetize via larger pharma sales and marketing budgets.