Accolade (NASDAQ:ACCD) PT Lowered to $7.00

Accolade (NASDAQ:ACCD) had its price objective reduced by equities research analysts at Canaccord Genuity Group from $13.00 to $7.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 80.88% from the company’s current price.

A number of other research firms have also weighed in on ACCD. Truist Financial lowered their target price on shares of Accolade from $9.00 to $7.50 and set a “buy” rating on the stock in a report on Wednesday. Stephens dropped their target price on Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Wednesday. Morgan Stanley decreased their price target on Accolade from $12.00 to $6.00 and set an “equal weight” rating for the company in a report on Friday, June 28th. Barclays dropped their price objective on Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, Guggenheim cut their price objective on shares of Accolade from $13.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.38.

Accolade Stock Down 0.8 %

ACCD stock opened at $3.87 on Wednesday. The stock’s 50 day simple moving average is $4.01 and its 200 day simple moving average is $5.78. The company has a market cap of $309.63 million, a P/E ratio of -3.34 and a beta of 1.99. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.80 and a current ratio of 2.80. Accolade has a fifty-two week low of $3.35 and a fifty-two week high of $15.36.

Accolade (NASDAQ:ACCD) last issued its earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. The company had revenue of $106.40 million for the quarter, compared to analysts’ expectations of $104.87 million. Accolade had a negative return on equity of 20.30% and a negative net margin of 20.62%. Accolade’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business earned ($0.43) EPS. On average, research analysts expect that Accolade will post -1.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Accolade

Large investors have recently modified their holdings of the stock. Bellevue Group AG grew its holdings in Accolade by 6.6% during the first quarter. Bellevue Group AG now owns 4,804,514 shares of the company’s stock valued at $50,351,000 after purchasing an additional 297,110 shares during the period. Clearline Capital LP purchased a new stake in Accolade in the 2nd quarter worth about $2,974,000. Acadian Asset Management LLC purchased a new stake in Accolade in the 2nd quarter worth about $1,229,000. Cubist Systematic Strategies LLC raised its stake in Accolade by 273.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 260,040 shares of the company’s stock valued at $931,000 after acquiring an additional 190,396 shares during the period. Finally, GSA Capital Partners LLP lifted its holdings in Accolade by 102.8% during the first quarter. GSA Capital Partners LLP now owns 51,374 shares of the company’s stock valued at $538,000 after purchasing an additional 26,044 shares during the last quarter. Hedge funds and other institutional investors own 84.99% of the company’s stock.

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.