Accolade (NASDAQ:ACCD) Price Target Cut to $13.00

Accolade (NASDAQ:ACCD) had its target price reduced by Stifel Nicolaus from $15.00 to $13.00 in a report issued on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts also recently issued reports on ACCD. Piper Sandler upped their price target on shares of Accolade from $12.00 to $15.00 and gave the stock an overweight rating in a research report on Tuesday, January 9th. Barclays initiated coverage on Accolade in a report on Wednesday, January 3rd. They issued an equal weight rating and a $13.00 price objective for the company. Truist Financial raised their price target on Accolade from $15.00 to $16.00 and gave the company a buy rating in a report on Tuesday, January 9th. William Blair reaffirmed an outperform rating on shares of Accolade in a report on Tuesday, January 9th. Finally, SVB Leerink assumed coverage on Accolade in a report on Monday, February 26th. They set an outperform rating and a $16.00 target price for the company. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Accolade currently has a consensus rating of Moderate Buy and a consensus price target of $15.53.

Accolade Stock Down 2.2 %

ACCD opened at $9.19 on Monday. The company has a market capitalization of $711.40 million, a P/E ratio of -5.57 and a beta of 2.08. The firm’s fifty day moving average price is $9.75 and its two-hundred day moving average price is $9.92. Accolade has a fifty-two week low of $6.33 and a fifty-two week high of $17.00. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.35 and a quick ratio of 2.35.

Hedge Funds Weigh In On Accolade

A number of hedge funds and other institutional investors have recently made changes to their positions in ACCD. BluePath Capital Management LLC acquired a new position in Accolade in the third quarter valued at approximately $28,000. DekaBank Deutsche Girozentrale acquired a new position in Accolade in the third quarter valued at approximately $28,000. AJOVista LLC acquired a new position in Accolade in the fourth quarter valued at approximately $68,000. Allspring Global Investments Holdings LLC acquired a new position in Accolade in the first quarter valued at approximately $87,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Accolade by 84.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,928 shares of the company’s stock valued at $126,000 after buying an additional 5,455 shares during the period. 84.99% of the stock is owned by institutional investors and hedge funds.

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.