Accolade (NASDAQ:ACCD) Price Target Lowered to $13.00 at Needham & Company LLC

Accolade (NASDAQ:ACCD) had its price target reduced by Needham & Company LLC from $17.00 to $13.00 in a research note published on Friday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other equities analysts have also issued reports about the company. 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. SVB Leerink started coverage on Accolade in a research report on Monday, February 26th. They set an outperform rating and a $16.00 target price for the company. Leerink Partnrs restated an outperform rating on shares of Accolade in a research report on Monday, February 26th. Piper Sandler boosted 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. Finally, William Blair reiterated an outperform rating on shares of Accolade in a research report on Tuesday, January 9th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Accolade has a consensus rating of Moderate Buy and an average target price of $14.80.

Accolade Stock Down 14.1 %

Shares of NASDAQ ACCD opened at $7.89 on Friday. The stock has a market cap of $610.75 million, a PE ratio of -4.78 and a beta of 2.08. The business has a fifty day moving average of $9.66 and a two-hundred day moving average of $9.91. Accolade has a 52-week low of $6.33 and a 52-week high of $17.00. 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 (NASDAQ:ACCD) last posted 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. The company 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 company’s revenue for the quarter was up 26.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.42) EPS. As a group, equities research analysts expect that Accolade will post -1.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Accolade

A number of large investors have recently bought and sold shares of ACCD. BluePath Capital Management LLC acquired a new position in Accolade during the 3rd quarter worth approximately $28,000. DekaBank Deutsche Girozentrale acquired a new position in Accolade during the 3rd quarter worth approximately $28,000. AJOVista LLC acquired a new position in Accolade during the 4th quarter worth approximately $68,000. Allspring Global Investments Holdings LLC acquired a new position in Accolade during the 1st quarter worth approximately $87,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Accolade by 84.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,928 shares of the company’s stock worth $126,000 after acquiring an additional 5,455 shares during the last quarter. Institutional investors and hedge funds own 84.99% of the company’s stock.

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 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.