Accolade (NASDAQ:ACCD) Price Target Lowered to $11.00 at Barclays

Accolade (NASDAQ:ACCD) had its target price lowered by equities research analysts at Barclays from $13.00 to $11.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target indicates a potential upside of 19.70% from the stock’s previous close.

Several other research analysts have also recently issued reports on ACCD. Raymond James raised their target price on shares of Accolade from $12.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, January 9th. Truist Financial lifted their price target on shares of Accolade from $15.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Wells Fargo & Company lifted their price target on shares of Accolade from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Tuesday, January 9th. Stifel Nicolaus dropped their target price on shares of Accolade from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Monday. Finally, Piper Sandler boosted their target price on shares of Accolade from $12.00 to $15.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.13.

Accolade Stock Performance

Shares of Accolade stock opened at $9.19 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.35 and a current ratio of 2.35. Accolade has a 52-week low of $6.33 and a 52-week high of $17.00. The company’s 50 day moving average price is $9.75 and its 200-day moving average price is $9.92.

Accolade (NASDAQ:ACCD) last issued its earnings results on Thursday, April 25th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.01. Accolade had a negative net margin of 31.59% and a negative return on equity of 27.27%. The firm had revenue of $124.80 million for the quarter, compared to analysts’ expectations of $123.91 million. During the same quarter last year, the business earned ($0.42) earnings per share. The business’s revenue was up 26.1% on a year-over-year basis. On average, sell-side analysts forecast that Accolade will post -1.33 EPS for the current year.

Institutional Trading of Accolade

Hedge funds have recently modified their holdings of the company. BluePath Capital Management LLC purchased a new stake in shares of Accolade during the 3rd quarter worth approximately $28,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Accolade during the 3rd quarter worth approximately $28,000. AJOVista LLC purchased a new stake in shares of Accolade during the 4th quarter worth approximately $68,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Accolade during the 1st quarter worth approximately $87,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Accolade by 84.3% during the 3rd 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 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.