Accolade, Inc. (NASDAQ:ACCD) Short Interest Update

Accolade, Inc. (NASDAQ:ACCD) saw a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 3,640,000 shares, a decrease of 25.1% from the October 31st total of 4,860,000 shares. Based on an average daily volume of 1,270,000 shares, the short-interest ratio is currently 2.9 days.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ACCD shares. 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, October 9th. Wells Fargo & Company dropped their target price on Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday, October 11th. Needham & Company LLC reiterated a “buy” rating and issued a $8.00 target price on shares of Accolade in a report on Monday, October 7th. Truist Financial dropped their target price on Accolade from $9.00 to $7.50 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Finally, Barclays dropped their target price on Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.04.

Accolade Stock Up 2.9 %

Shares of Accolade stock opened at $3.86 on Friday. The stock has a market capitalization of $310.88 million, a P/E ratio of -3.75 and a beta of 2.02. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.49. The stock has a 50 day moving average price of $3.61 and a two-hundred day moving average price of $4.45. Accolade has a 12-month low of $3.08 and a 12-month high of $15.36.

Accolade (NASDAQ:ACCD) last announced 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 firm had revenue of $106.40 million during the quarter, compared to analysts’ expectations of $104.87 million. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.43) earnings per share. Equities analysts expect that Accolade will post -0.92 earnings per share for the current year.

Institutional Investors Weigh In On Accolade

A number of large investors have recently added to or reduced their stakes in the stock. Mission Creek Capital Partners Inc. bought a new stake in shares of Accolade in the third quarter valued at approximately $38,000. SG Americas Securities LLC bought a new stake in shares of Accolade in the second quarter valued at approximately $43,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of Accolade in the third quarter valued at approximately $46,000. Wolverine Trading LLC bought a new stake in shares of Accolade in the third quarter valued at approximately $51,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Accolade by 22.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock valued at $73,000 after acquiring an additional 3,789 shares during the period. Institutional investors 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 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.