Phreesia price target raised to $35 from $29 at Needham

Needham raised the firm’s price target on Phreesia (PHR) to $35 from $29 and keeps a Buy rating on the shares. The firm cites the company’s Q2 earnings beat, with expense management driving another FY26 EBITDA raise, the analyst tells investors in a research note. Phreesia’s core business continues to chug along, with the anticipated slowdown in provider adds allowing the company to highlight y/y ARPU – average revenue per user – growth in the base, the analyst tells investors in a research note.