Accolade, Inc. (NASDAQ:ACCD) Receives $8.96 Average Price Target from Brokerages

Accolade, Inc. (NASDAQ:ACCD) has been given an average recommendation of “Moderate Buy” by the fourteen analysts that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $8.96.

Several analysts have recently weighed in on ACCD shares. Wells Fargo & Company lowered their price objective on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday, October 11th. Morgan Stanley lowered their price target on Accolade from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Truist Financial cut their price objective on Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a report on Wednesday, October 9th. Needham & Company LLC reissued a “buy” rating and set a $8.00 price objective on shares of Accolade in a report on Monday, October 7th. Finally, Barclays cut their target price on Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 9th.

Insider Activity at Accolade

In other news, CEO Rajeev Singh sold 13,357 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total transaction of $48,085.20. Following the transaction, the chief executive officer now directly owns 814,316 shares of the company’s stock, valued at approximately $2,931,537.60. The trade was a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 42,095 shares of company stock worth $150,475 in the last three months. 8.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Mission Creek Capital Partners Inc. purchased a new position in shares of Accolade in the 3rd quarter valued at approximately $38,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Accolade during the third quarter valued at $46,000. SG Americas Securities LLC bought a new stake in shares of Accolade during the 2nd quarter valued at $43,000. Wolverine Trading LLC purchased a new stake in shares of Accolade in the 3rd quarter worth about $51,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Accolade by 22.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock worth $73,000 after acquiring an additional 3,789 shares in the last quarter. 84.99% of the stock is owned by hedge funds and other institutional investors.

Accolade Trading Down 1.4 %

Accolade stock opened at $3.40 on Friday. 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 has a fifty-two week low of $3.08 and a fifty-two week high of $15.36. The stock has a market cap of $273.83 million, a P/E ratio of -3.30 and a beta of 2.07. The firm’s fifty day moving average price is $3.50 and its 200-day moving average price is $3.99.

Accolade (NASDAQ:ACCD) last released its quarterly earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.14. The firm 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 18.43% and a negative net margin of 18.16%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.43) EPS. Equities research analysts forecast that Accolade will post -0.92 earnings per share for the current fiscal year.

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.