Phreesia, Inc. (PHR)

Phreesia's stock has declined significantly over the past six months. From April 7, 2025, to April 6, 2026, the share price decreased by 62.13%. Over the last 12 months, the stock's price decreased by 66.49%, with a year-to-date return of -52.31%. In the past month, the stock decreased by 29.07%. Specific events impacting the stock include a price decrease in December 2025, another in April 2026, the announcement of Fourth Quarter Fiscal 2026 Results in March 2026, and a downgrade from "buy" to "hold" in April 2026 due to reduced revenue guidance for fiscal year 2027.

Phreesia has observed some variability in its internal network solutions revenue forecasting, particularly in the second half of each fiscal year. However, the company does not believe these developments signal a structural shift in demand for its solutions.

Phreesia, Inc. is a healthcare technology company providing an integrated SaaS platform, operating in the Health Information Services industry. The company aims to streamline healthcare provider operations and enhance patient engagement through technology. Its products and services include digital patient intake, payment solutions (expanded with the acquisition of AccessOne in November 2025), network solutions, hardware devices, communication tools, clinical support, and the MediFind Provider Directory.

Phreesia's market presence is mainly in the United States, with a significant national footprint, and also has a presence in Canada. While primarily concentrated in North America, its solutions are used by companies in other countries, including India, Sweden, and Australia. In 2024, Phreesia facilitated approximately 170 million patient visits, representing over one in seven patient visits across the U.S.

Phreesia has received positive recognition for its brand and workplace culture. It was named to TIME's 2025 List of the World's Top HealthTech Companies and one of Becker's Healthcare's Top Places to Work in Healthcare for 2026. Phreesia has also been selected by Modern Healthcare as one of the "Best Places to Work in Healthcare" multiple times. Tiffany McGee was named a Top Woman Leader in Software, and MediFind became the first doctor directory to receive the Digital Medicine Society Seal. Phreesia and Sesame Workshop also won a Point of Care Excellence Award for Best Unbranded Campaign.

Phreesia's ownership is largely concentrated among institutional investors, who collectively held 94.64% of the company's shares as of 2025 and 95.40% as of April 2026. Major institutional owners include Vanguard Group Inc, BlackRock, Inc., Capital International Investors, Fmr LLC, Greenhouse Funds LLLP, Franklin Resources Inc, Deerfield Management Company, L.p. (series C), Nuveen, LLC, Millennium Management Llc, State Street Corp and Geode Capital Management, Llc. Insiders hold 41.73% of the company's shares. Pale Fire Capital Se is noted as the largest individual Phreesia shareholder.