Accolade (NASDAQ:ACCD) Receives Market Perform Rating from Leerink Partners

Accolade (NASDAQ:ACCD)‘s stock had its “market perform” rating restated by stock analysts at Leerink Partners in a research note issued on Wednesday,Benzinga reports.

Several other equities analysts have also commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $8.00 price objective on shares of Accolade in a report on Monday, October 7th. Wells Fargo & Company decreased their price target on Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Friday, October 11th. Barclays lowered their price target on Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 9th. Canaccord Genuity Group cut their price objective on Accolade from $13.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Finally, Truist Financial lowered their target price on Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a report on Wednesday, October 9th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $7.55.

Accolade Price Performance

NASDAQ:ACCD opened at $6.86 on Wednesday. Accolade has a 52 week low of $3.08 and a 52 week high of $15.36. The stock’s fifty day moving average is $3.66 and its two-hundred day moving average is $3.83. The company has a market capitalization of $552.48 million, a P/E ratio of -6.66 and a beta of 2.08. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.49.

Accolade (NASDAQ:ACCD) last issued its quarterly earnings data on Tuesday, October 8th. The company reported ($0.30) earnings per share (EPS) 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 analyst estimates of $104.87 million. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. Accolade’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.43) EPS. Equities analysts expect that Accolade will post -0.92 EPS for the current year.

Insider Activity at Accolade

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total transaction of $48,085.20. Following the sale, the chief executive officer now owns 814,316 shares of the company’s stock, valued at approximately $2,931,537.60. This trade represents a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 40,881 shares of company stock valued at $144,987 over the last quarter. 8.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Centiva Capital LP boosted its stake in Accolade by 5.8% during the 3rd quarter. Centiva Capital LP now owns 59,660 shares of the company’s stock worth $230,000 after purchasing an additional 3,264 shares during the period. The Manufacturers Life Insurance Company boosted its stake 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 buying an additional 3,416 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew 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 buying an additional 3,789 shares during the last quarter. Mission Creek Capital Partners Inc. acquired a new position in Accolade in the 3rd quarter valued at about $38,000. Finally, Inspire Investing LLC raised its stake in Accolade by 11.1% during the 3rd quarter. Inspire Investing LLC now owns 106,679 shares of the company’s stock valued at $411,000 after acquiring an additional 10,658 shares during the last quarter. 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 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.