Accolade (NASDAQ:ACCD) PT Lowered to $6.00

Accolade (NASDAQ:ACCD) had its price objective dropped by Guggenheim from $13.00 to $6.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s price target would suggest a potential upside of 67.60% from the stock’s current price.

Several other equities analysts have also weighed in on ACCD. Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Accolade in a research note on Monday, June 24th. Truist Financial cut their price objective on Accolade from $14.00 to $9.00 and set a “buy” rating for the company in a report on Friday. Morgan Stanley cut their target price on Accolade from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday. Wells Fargo & Company lowered their target price on Accolade from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 30th. Finally, Barclays decreased their target price on Accolade from $11.00 to $5.50 and set an “equal weight” rating for the company in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Accolade currently has an average rating of “Moderate Buy” and a consensus price target of $11.89.

Accolade Trading Down 44.0 %

NASDAQ:ACCD opened at $3.58 on Friday. The firm has a market cap of $286.44 million, a P/E ratio of -3.09 and a beta of 2.10. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.47. The stock’s 50 day simple moving average is $7.09 and its 200-day simple moving average is $9.66. Accolade has a 12-month low of $3.52 and a 12-month high of $15.36.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings results on Thursday, June 27th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.13. Accolade had a negative return on equity of 20.26% and a negative net margin of 20.62%. The business had revenue of $110.50 million during the quarter, compared to analysts’ expectations of $105.22 million. During the same quarter last year, the business posted ($0.52) earnings per share. The business’s revenue for the quarter was up 18.6% on a year-over-year basis. Equities analysts anticipate that Accolade will post -1.23 EPS for the current year.

Insider Activity

In related news, CAO Colin Mchugh sold 5,543 shares of Accolade stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $6.62, for a total transaction of $36,694.66. Following the completion of the sale, the chief accounting officer now owns 50,177 shares in the company, valued at approximately $332,171.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 14,746 shares of company stock worth $104,586 in the last three months. Company insiders own 8.30% of the company’s stock.

Institutional Trading of Accolade

Several large investors have recently made changes to their positions in the business. Swiss National Bank raised its position in Accolade by 1.7% during the first quarter. Swiss National Bank now owns 137,500 shares of the company’s stock worth $1,441,000 after acquiring an additional 2,300 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Accolade by 15.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,540 shares of the company’s stock worth $205,000 after purchasing an additional 2,586 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Accolade by 39.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,584 shares of the company’s stock valued at $199,000 after acquiring an additional 4,656 shares in the last quarter. AJOVista LLC acquired a new stake in Accolade during the fourth quarter worth approximately $68,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Accolade during the first quarter worth approximately $87,000. 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.