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Markets · Investing · Business
Finance
Why Phreesia Stock Got Knocked Down Today
An analyst's recommendation downgrade did the company few favors.
Hardly for the first time in recent trading sessions, Phreesia(NYSE: PHR) stock took it on the chin Tuesday. Investors remained bearish on the stock following the healthcare provider software specialist's second-quarter earnings release last week. This was exacerbated by an analyst's recommendation downgrade early Tuesday morning.
Buffeted by these headwinds, the company's stock closed that trading session almost 7% lower.
Details
The downgrading party was financial services company Raymond James, in the person of pundit John Ransom. He moved his Phreesia rating down one peg to market perform (hold, in other words) from his previous outperform (buy).
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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