Accolade (NASDAQ:ACCD – Free Report) had its target price reduced by Wells Fargo & Company from $7.00 to $6.00 in a research report report published on Friday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.
Several other brokerages also recently weighed in on ACCD. Canaccord Genuity Group reduced their price target on shares of Accolade from $13.00 to $7.00 and set a buy rating for the company in a research report on Wednesday, October 9th. Morgan Stanley reduced their price target on shares of Accolade from $12.00 to $6.00 and set an equal weight rating for the company in a research report on Friday, June 28th. Stifel Nicolaus reduced their price target on shares of Accolade from $13.00 to $8.00 and set a buy rating for the company in a research report on Friday, June 28th. Stephens cut their target price on shares of Accolade from $10.00 to $8.00 and set an overweight rating for the company in a research report on Wednesday, October 9th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $8.00 target price on shares of Accolade in a research report on Monday, October 7th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $9.04.
Accolade Price Performance
Accolade (NASDAQ:ACCD – Get Free Report) last released its earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.14. The firm had revenue of $106.40 million during the quarter, compared to analyst estimates of $104.87 million. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the business earned ($0.43) earnings per share. Equities research analysts forecast that Accolade will post -1.09 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of ACCD. PNC Financial Services Group Inc. lifted its stake in shares of Accolade by 52,492.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 33,659 shares of the company’s stock valued at $404,000 after buying an additional 33,595 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of Accolade by 233.8% during the 1st quarter. Los Angeles Capital Management LLC now owns 56,149 shares of the company’s stock valued at $588,000 after buying an additional 39,330 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Accolade during the 1st quarter valued at $87,000. Principal Financial Group Inc. purchased a new position in shares of Accolade during the 1st quarter valued at $259,000. Finally, Mckinley Capital Management LLC purchased a new position in shares of Accolade during the 1st quarter valued at $1,155,000. 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 intelligent technology and multimodal support from a team of advocates and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women’s health specialists, case management specialists, expert medical opinion providers, and primary care physicians.
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