Phreesia price target raised to $23 from $17 at RBC Capital

RBC Capital raised the firm’s price target on Phreesia to $23 from $17 and keeps a Sector Perform rating on the shares. The company’s Q4 results were better than expected, with strong cost control driving upside to the firm’s EBITDA estimate, the analyst tells investors in a research note. Phreesia also made incremental progress monetizing its client base and generating more revenue per provider that should be enhanced in future periods by a heightened focus on adding more-profitable new clients, the firm added.