Accolade’s (ACCD) Hold Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group restated their hold rating on shares of Accolade (NASDAQ:ACCD) in a research note published on Wednesday, MarketBeat Ratings reports.

Other research analysts have also recently issued reports about the stock. Morgan Stanley decreased their price objective on shares of Accolade from $6.00 to $5.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Needham & Company LLC reissued a “hold” rating on shares of Accolade in a report on Wednesday. Leerink Partners reissued a “market perform” rating on shares of Accolade in a report on Wednesday. Barclays decreased their price objective on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a report on Wednesday, October 9th. Finally, Wells Fargo & Company decreased their price objective on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Friday, October 11th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $7.55.

Accolade Trading Down 0.4 %

NASDAQ:ACCD opened at $6.83 on Wednesday. Accolade has a one year low of $3.08 and a one year high of $15.21. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.72 and a quick ratio of 2.72. The company’s 50-day simple moving average is $3.73 and its 200 day simple moving average is $3.84. The firm has a market capitalization of $550.07 million, a P/E ratio of -6.63 and a beta of 2.08.

Accolade (NASDAQ:ACCD) last posted its quarterly earnings data on Friday, January 10th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.01. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. As a group, analysts forecast that Accolade will post -0.92 EPS for the current fiscal year.

Insider Transactions at Accolade

In related news, CEO Rajeev Singh sold 13,357 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 814,316 shares in the company, valued at approximately $2,931,537.60. This represents a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 40,881 shares of company stock valued at $144,987 over the last three months. Corporate insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On Accolade

A number of hedge funds and other institutional investors have recently modified their holdings of ACCD. Millennium Management LLC boosted its position in shares of Accolade by 244.7% during the second quarter. Millennium Management LLC now owns 2,623,201 shares of the company’s stock worth $9,391,000 after acquiring an additional 1,862,178 shares during the last quarter. Whetstone Capital Advisors LLC bought a new position in Accolade during the third quarter valued at $3,842,000. Clearline Capital LP bought a new position in Accolade during the second quarter valued at $2,974,000. Point72 Asset Management L.P. bought a new position in Accolade during the third quarter valued at $2,378,000. Finally, Johnson Financial Group LLC bought a new position in Accolade during the third quarter valued at $1,642,000. 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 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.