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MDRX - Phreesia Adapts To New Operating Environment But Visibility Awaits
Allscripts Healthcare Solutions Inc.
Quick Take
Phreesia (PHR) went public in July 2019 and raised $167 million in gross proceeds from a U.S. IPO.
The firm provides healthcare IT software to streamline patient processing and communications for healthcare organizations.
PHR has responded nimbly to customer needs but its sales cycles have likely been negatively impacted by the Covid19 pandemic’s effects on its client decision processes and its own operations.
My bias on the stock is Neutral until we gain more visibility into the firm’s forward operating expectations given a sharply changed operating environment.