Phreesia price target lowered to $29 from $36 at Truist

Truist lowered the firm’s price target on Phreesia (PHR) to $29 from $36 and keeps a Buy rating on the shares after the firm had a post-quarter call with the company’s management to discuss its FY26 and FY27 expectations, AccessOne, Trends in the average number of healthcare services clients, among other topics. Truist notes Phreesia posted solid Q3 results, with in-line revenues and adjusted EBITDA ahead of consensus, updated its FY26 outlook, and introduced its FY27 guidance. The firm points out that the organic growth slowdown was attributed to revenue guide approach shift, and says fundamentals remain intact.