Phreesia's Strategic Growth and Financial Performance Drive Buy Rating Amid Attractive ValuationWe reiterate our Buy rating on PHR ahead of 3Q earnings. PHR is coming off a 2Q beat, where expense management led to another FY26 EBITDA raise, while the topline was reiterated. We expect the beat and EBITDA raise cadence to continue in 3Q, with a topline beat likely led by Network Solutions. With PHR's acquisition of 2Q call, we believe integration efforts and updates on realization of growth synergies will be in focus, particularly as it relates to new margin accretive growth and progress on moving core PHR upstream into AccessOne clients. Per usual, provider client adds, revenue per AHSC, and mix of organic/inorganic growth heading into FY27 will also be areas of focus on the call. With shares trading at 2.3x consensus FY27 rev. estimates, we believe the risk/reward remains attractive for investors at current levels.