Why Phreesia Stock Got Knocked Down Today

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.

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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