Conestoga Capital Advisors released its third-quarter 2025 investor letter, noting equity markets reached all-time highs with a 11.7% return for the Conestoga Micro-Cap Composite compared to the Russell Microcap Growth Index’s 19.9% return. Check their top 5 holdings for insights on their best picks for 2025.

In their investor letter, Conestoga Capital Advisors highlighted Phreesia, Inc. (NYSE:PHR), a healthcare software provider with a one-month return of -6.91% and a 17.44% gain over 52 weeks. PHR stock closed at $22.29 per share on October 17, 2025, with a market cap of $1.335 billion.

Phreesia, Inc. (NYSE:PHR) reported strong second-quarter results with revenue growth of 15% and EBITDA margins expanding to 19%. The company raised its full-year profitability outlook and announced the acquisition of AccessOne for $160 million, adding $35 million in revenue and $11 million in EBITDA to their payments platform.

While not among the 30 most popular stocks among hedge funds, Phreesia, Inc. (NYSE:PHR) saw 28 hedge fund portfolios holding the stock at the end of Q2, with total revenue of $117.3 million in the second quarter of fiscal 2026, a 15% increase year over year. Explore AI stocks for greater upside potential and less downside risk.

Learn more about Phreesia, Inc. (NYSE:PHR) and other small-cap stocks in additional articles. Visit the hedge fund investor letters Q3 2025 page for insights from leading investors and hedge funds.

Read more at Yahoo Finance: Phreesia (PHR) Fell in Q3 Despite Reporting Better Results