Accolade, Inc. (NASDAQ:ACCD) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Accolade, Inc. (NASDAQ:ACCD) have been given a consensus rating of “Moderate Buy” by the fifteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $9.04.

ACCD has been the subject of a number of research analyst reports. Barclays reduced their target price on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 9th. Truist Financial reduced their target price on shares of Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 target price on shares of Accolade in a research note on Monday, October 7th. Stephens reduced their target price on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company reduced their target price on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Friday, October 11th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ACCD. SG Americas Securities LLC bought a new position in shares of Accolade during the second quarter worth approximately $43,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Accolade during the third quarter worth approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Accolade by 22.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock worth $73,000 after purchasing an additional 3,789 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Accolade during the first quarter worth approximately $87,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Accolade by 13.3% during the second quarter. The Manufacturers Life Insurance Company now owns 29,160 shares of the company’s stock worth $104,000 after purchasing an additional 3,416 shares during the period. 84.99% of the stock is owned by institutional investors.

Accolade Stock Performance

Shares of Accolade stock opened at $3.21 on Friday. The firm has a fifty day moving average of $3.80 and a two-hundred day moving average of $4.96. The stock has a market capitalization of $258.53 million, a price-to-earnings ratio of -3.12 and a beta of 2.02. Accolade has a 52 week low of $3.08 and a 52 week high of $15.36. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 2.72.

Accolade (NASDAQ:ACCD) last issued its earnings results on Tuesday, October 8th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.14. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. The company had revenue of $106.40 million during the quarter, compared to analysts’ expectations of $104.87 million. During the same quarter in the previous year, the company posted ($0.43) EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, equities research analysts predict that Accolade will post -0.92 EPS for the current year.

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 intelligent technology and multimodal support from a team of advocates and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women’s health specialists, case management specialists, expert medical opinion providers, and primary care physicians.