Accolade (NASDAQ:ACCD) Stock Price Up 4%

Shares of Accolade, Inc. (NASDAQ:ACCD) shot up 4% during trading on Tuesday . The stock traded as high as $10.09 and last traded at $10.08. 30,718 shares changed hands during trading, a decline of 96% from the average session volume of 746,159 shares. The stock had previously closed at $9.69.

Analysts Set New Price Targets

ACCD has been the subject of several recent research reports. SVB Leerink started coverage on shares of Accolade in a research note on Monday, February 26th. They issued an “outperform” rating and a $16.00 price target for the company. Leerink Partnrs restated an “outperform” rating on shares of Accolade in a report on Monday, February 26th. Truist Financial lifted their price target on Accolade from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. William Blair reissued an “outperform” rating on shares of Accolade in a research note on Tuesday, January 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $17.00 price target on shares of Accolade in a research report on Friday, January 19th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.67.

Accolade Stock Performance

The firm has a market cap of $773.31 million, a P/E ratio of -6.05 and a beta of 2.08. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.35 and a current ratio of 2.35. The business’s 50-day simple moving average is $11.08 and its 200 day simple moving average is $10.17.

Accolade (NASDAQ:ACCD) last issued its quarterly earnings data on Monday, January 8th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.17. The company had revenue of $99.37 million during the quarter, compared to analyst estimates of $96.16 million. Accolade had a negative return on equity of 27.27% and a negative net margin of 31.59%. Accolade’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.56) earnings per share. As a group, equities analysts predict that Accolade, Inc. will post -1.38 earnings per share for the current year.

Insider Transactions at Accolade

In related news, CEO Rajeev Singh sold 21,530 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $15.02, for a total transaction of $323,380.60. Following the completion of the sale, the chief executive officer now directly owns 742,162 shares in the company, valued at $11,147,273.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 65,370 shares of company stock worth $953,666 in the last quarter. Company insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Accolade

Institutional investors and hedge funds have recently bought and sold shares of the stock. BluePath Capital Management LLC bought a new position in shares of Accolade in the third quarter worth about $28,000. DekaBank Deutsche Girozentrale bought a new position in shares of Accolade in the third quarter worth approximately $28,000. AJOVista LLC purchased a new stake in shares of Accolade in the fourth quarter worth $68,000. State of Wyoming boosted its holdings in Accolade by 46.6% in the 2nd quarter. State of Wyoming now owns 5,247 shares of the company’s stock worth $71,000 after buying an additional 1,669 shares during the period. Finally, First Republic Investment Management Inc. purchased a new stake in Accolade in the 2nd quarter worth $75,000. 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 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.