Accolade (NASDAQ:ACCD) Issues Earnings Results

Accolade (NASDAQ:ACCD) issued its quarterly earnings data on Friday. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.01, Zacks reports. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%.

Accolade Stock Performance

Shares of ACCD traded down $0.01 during mid-day trading on Friday, hitting $6.85. 3,656,461 shares of the company traded hands, compared to its average volume of 5,130,888. The stock has a market cap of $551.68 million, a price-to-earnings ratio of -6.65 and a beta of 2.08. The stock has a 50-day moving average price of $3.66 and a two-hundred day moving average price of $3.83. Accolade has a 1 year low of $3.08 and a 1 year high of $15.21. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 2.72.

Insider Buying and Selling

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total transaction of $48,085.20. Following the completion of the sale, the chief executive officer now directly owns 814,316 shares of the company’s stock, valued at approximately $2,931,537.60. This represents a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 40,881 shares of company stock worth $144,987. 8.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ACCD shares. Needham & Company LLC reissued a “hold” rating on shares of Accolade in a research report on Wednesday. William Blair cut shares of Accolade from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Truist Financial lowered their target price on shares of Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a report on Wednesday, October 9th. Leerink Partnrs downgraded Accolade from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Finally, Wells Fargo & Company lowered their price objective on Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Friday, October 11th. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $7.55.

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.