Accolade, Inc. (NASDAQ:ACCD) Receives $8.96 Average Price Target from Analysts

Shares of Accolade, Inc. (NASDAQ:ACCD) have been given an average recommendation of “Moderate Buy” by the fourteen brokerages that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $8.96.

A number of research firms recently weighed in on ACCD. Stephens lowered their price target on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Wells Fargo & Company dropped their price target on Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Friday, October 11th. Canaccord Genuity Group reduced their price objective on Accolade from $13.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Truist Financial dropped their target price on Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a report on Wednesday, October 9th. Finally, Barclays cut their target price on Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 9th.

Accolade Trading Down 0.8 %

ACCD stock opened at $3.54 on Friday. Accolade has a 12-month low of $3.08 and a 12-month high of $15.36. The business’s 50-day moving average is $3.50 and its 200 day moving average is $3.96. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.49. The stock has a market cap of $285.10 million, a price-to-earnings ratio of -3.44 and a beta of 2.07.

Accolade (NASDAQ:ACCD) last issued its quarterly earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. The firm had revenue of $106.40 million for the quarter, compared to analyst estimates of $104.87 million. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.43) earnings per share. On average, sell-side analysts anticipate that Accolade will post -0.92 EPS for the current fiscal year.

Insider Activity at Accolade

In related news, CEO Rajeev Singh sold 13,357 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total transaction of $48,085.20. Following the completion of the transaction, the chief executive officer now directly owns 814,316 shares in the company, valued at $2,931,537.60. This trade represents a 1.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders sold 42,095 shares of company stock worth $150,475. Insiders own 8.20% of the company’s stock.

Institutional Trading of Accolade

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC grew its holdings in shares of Accolade by 164.4% in the third quarter. Barclays PLC now owns 139,901 shares of the company’s stock valued at $539,000 after purchasing an additional 86,981 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Accolade by 4.9% in the third quarter. Geode Capital Management LLC now owns 1,782,038 shares of the company’s stock worth $6,862,000 after acquiring an additional 83,556 shares in the last quarter. Wolverine Trading LLC acquired a new position in shares of Accolade in the third quarter worth $51,000. Stifel Financial Corp increased its position in shares of Accolade by 20.8% during the third quarter. Stifel Financial Corp now owns 332,126 shares of the company’s stock worth $1,279,000 after acquiring an additional 57,239 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Accolade in the third quarter valued at $2,378,000. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

Accolade Company Profile

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.