Accolade (NASDAQ:ACCD) Rating Lowered to Hold at William Blair

Accolade (NASDAQ:ACCD) was downgraded by research analysts at William Blair from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other brokerages also recently commented on ACCD. Canaccord Genuity Group reiterated a “hold” rating on shares of Accolade in a research note on Wednesday. Wells Fargo & Company decreased their price objective on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday, October 11th. Leerink Partners restated a “market perform” rating on shares of Accolade in a research note on Wednesday. Leerink Partnrs lowered shares of Accolade from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Finally, Raymond James reissued a “market perform” rating on shares of Accolade in a report on Thursday. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $7.55.

Accolade Stock Performance

NASDAQ ACCD opened at $6.86 on Wednesday. The firm’s fifty day moving average price is $3.66 and its two-hundred day moving average price is $3.83. Accolade has a 1 year low of $3.08 and a 1 year high of $15.36. The firm has a market capitalization of $552.48 million, a P/E ratio of -6.66 and a beta of 2.08. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.49.

Accolade (NASDAQ:ACCD) last issued 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 business had revenue of $106.40 million during the quarter, compared to the consensus estimate of $104.87 million. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. Accolade’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the business posted ($0.43) EPS. As a group, research analysts anticipate that Accolade will post -0.92 EPS for the current year.

Insider Buying and Selling at Accolade

In related news, CEO Rajeev Singh sold 13,357 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total value of $48,085.20. Following the transaction, the chief executive officer now owns 814,316 shares in the company, valued at approximately $2,931,537.60. This trade represents a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 40,881 shares of company stock valued at $144,987 in the last three months. Corporate insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On Accolade

Several hedge funds have recently bought and sold shares of the company. Mission Creek Capital Partners Inc. bought a new position in Accolade in the third quarter valued at approximately $38,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Accolade during the 3rd quarter worth $46,000. Wolverine Trading LLC acquired a new stake in Accolade in the third quarter valued at about $51,000. Point72 Asia Singapore Pte. Ltd. grew its position in Accolade by 1,144.1% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 20,913 shares of the company’s stock valued at $81,000 after acquiring an additional 19,232 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in Accolade during the third quarter worth about $96,000. 84.99% of the stock is owned by institutional investors.

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.