Stephens downgraded shares of Accolade (NASDAQ:ACCD – Free Report) from a strong-buy rating to a hold rating in a research report report published on Monday morning,Zacks.com reports.
Other equities analysts have also recently issued research reports about the company. Raymond James restated a “market perform” rating on shares of Accolade in a research report on Thursday, January 9th. Canaccord Genuity Group restated a “hold” rating on shares of Accolade in a research note on Wednesday, January 8th. Stifel Nicolaus reiterated a “hold” rating and issued a $7.03 price objective (down from $8.00) on shares of Accolade in a research report on Thursday, January 9th. Barclays cut their price objective on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 9th. Finally, Truist Financial downgraded shares of Accolade from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Twelve equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $7.55.
Read Our Latest Stock Report on Accolade
Accolade Price Performance
Accolade (NASDAQ:ACCD – Get Free Report) last released its quarterly earnings results on Friday, January 10th. The company reported ($0.30) EPS for the quarter, beating 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%. On average, research analysts forecast that Accolade will post -0.92 earnings per share for the current year.
Insiders Place Their Bets
In other Accolade news, CEO Rajeev Singh sold 13,357 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total value 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 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 is accessible through the SEC website. Over the last three months, insiders have sold 41,298 shares of company stock worth $149,987. 8.20% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mission Creek Capital Partners Inc. purchased a new position in Accolade during the 3rd quarter valued at about $38,000. Pallas Capital Advisors LLC acquired a new stake in shares of Accolade in the fourth quarter valued at approximately $38,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Accolade during the 3rd quarter worth approximately $46,000. Wolverine Trading LLC acquired a new position in shares of Accolade during the 3rd quarter worth approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its stake in Accolade by 1,144.1% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 20,913 shares of the company’s stock valued at $81,000 after buying an additional 19,232 shares in the last quarter. Institutional investors and hedge funds 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.
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