Canaccord lowered the firm’s price target on Phreesia (PHR) to $34 from $35 and keeps a Buy rating on the shares. The firm noted the shares pulled back following Q1 results on revenue noise but believes the power of Phreesia’s model to drive respectable growth and strong profitability is proving out. According to management the revenue noise this appears to be more isolated to timing of campaigns and not any meaningful change in Life Sciences demand.
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