Accolade (NASDAQ:ACCD) PT Lowered to $13.00

Accolade (NASDAQ:ACCD) had its price objective lowered by equities researchers at Needham & Company LLC from $17.00 to $13.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective points to a potential upside of 41.46% from the company’s previous close.

Several other brokerages have also commented on ACCD. Truist Financial upped 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. Piper Sandler upped their target price on Accolade from $12.00 to $15.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Barclays decreased their target price on Accolade from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Friday. Raymond James upped their target price on Accolade from $12.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 9th. Finally, Stifel Nicolaus decreased their target price on Accolade from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Monday. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Accolade currently has a consensus rating of “Moderate Buy” and an average target price of $15.13.

Accolade Stock Performance

Accolade stock opened at $9.19 on Friday. The firm has a market capitalization of $711.40 million, a P/E ratio of -5.57 and a beta of 2.08. The stock has a fifty day moving average price of $9.75 and a 200 day moving average price of $9.92. Accolade has a 52 week low of $6.33 and a 52 week high of $17.00. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.48.

Accolade (NASDAQ:ACCD) last released its earnings results on Thursday, April 25th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.01. The firm had revenue of $124.80 million during the quarter, compared to analyst estimates of $123.91 million. Accolade had a negative return on equity of 27.27% and a negative net margin of 31.59%. The business’s quarterly revenue was up 26.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.42) earnings per share. Equities research analysts anticipate that Accolade will post -1.33 earnings per share for the current year.

Institutional Trading of Accolade

A number of institutional investors and hedge funds have recently made changes to their positions in ACCD. AE Wealth Management LLC acquired a new stake in shares of Accolade during the 3rd quarter worth approximately $400,000. Handelsbanken Fonder AB raised its position in shares of Accolade by 14.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 16,765 shares of the company’s stock worth $177,000 after purchasing an additional 2,165 shares during the period. Raymond James & Associates acquired a new stake in Accolade in the 3rd quarter valued at approximately $272,000. Bank of New York Mellon Corp increased its position in Accolade by 2.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 230,092 shares of the company’s stock valued at $2,434,000 after acquiring an additional 6,069 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Accolade by 84.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,928 shares of the company’s stock valued at $126,000 after acquiring an additional 5,455 shares during the period. 84.99% of the stock is currently 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.