Accolade (NASDAQ:ACCD) Price Target Cut to $8.00 by Analysts at Stephens

Accolade (NASDAQ:ACCD) had its target price cut by Stephens from $10.00 to $8.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts also recently issued reports on ACCD. Stifel Nicolaus dropped their target price on shares of Accolade from $13.00 to $8.00 and set a buy rating on the stock in a research report on Friday, June 28th. Truist Financial reduced their target price on Accolade from $14.00 to $9.00 and set a buy rating for the company in a research note on Friday, June 28th. Canaccord Genuity Group dropped their price target on Accolade from $16.00 to $13.00 and set a buy rating on the stock in a research note on Friday, June 28th. Guggenheim reduced their price objective on Accolade from $13.00 to $6.00 and set a buy rating for the company in a research note on Friday, June 28th. Finally, Needham & Company LLC restated a buy rating and set a $8.00 price objective on shares of Accolade in a report on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Accolade has a consensus rating of Moderate Buy and an average target price of $9.04.

Accolade Trading Down 2.1 %

ACCD opened at $3.79 on Wednesday. Accolade has a twelve month low of $3.35 and a twelve month high of $15.36. The company has a fifty day moving average of $4.02 and a 200-day moving average of $5.73. The stock has a market cap of $305.25 million, a PE ratio of -3.68 and a beta of 1.99. The company has a quick ratio of 2.80, a current ratio of 2.72 and a debt-to-equity ratio of 0.49.

Accolade (NASDAQ:ACCD) last issued its quarterly earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. The firm had revenue of $106.40 million during the quarter, compared to the consensus estimate of $104.87 million. During the same period last year, the business posted ($0.43) EPS. The business’s revenue was up 9.8% compared to the same quarter last year. On average, sell-side analysts predict that Accolade will post -1.09 EPS for the current year.

Hedge Funds Weigh In On Accolade

Hedge funds and other institutional investors have recently modified their holdings of the business. Swiss National Bank grew its position in Accolade by 1.7% during the first quarter. Swiss National Bank now owns 137,500 shares of the company’s stock valued at $1,441,000 after buying an additional 2,300 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Accolade by 15.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,540 shares of the company’s stock valued at $205,000 after acquiring an additional 2,586 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Accolade by 13.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,160 shares of the company’s stock worth $104,000 after purchasing an additional 3,416 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Accolade by 22.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock worth $73,000 after purchasing an additional 3,789 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in Accolade in the first quarter valued at approximately $87,000. Hedge funds and other institutional investors own 84.99% of the company’s stock.

About Accolade

Accolade, Inc, together with its subsidiaries, engages in the development and provision of personalized and technology-enabled solutions that help people to understand, navigate, and utilize the healthcare system and their workplace benefits in the United States. The company offers a platform with cloud-based technology and multimodal support from a team of health assistants and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women's health specialists, case management specialists, expert medical opinion providers, and virtual primary care physicians.