Brokerages Set Accolade, Inc. (NASDAQ:ACCD) Price Target at $6.51

Shares of Accolade, Inc. (NASDAQ:ACCD) have been given an average rating of “Hold” by the fourteen brokerages that are presently covering the stock, Marketbeat reports. Thirteen research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $6.51.

A number of analysts have recently weighed in on ACCD shares. Truist Financial cut Accolade from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. William Blair cut Accolade from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Leerink Partnrs cut Accolade from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Stifel Nicolaus reiterated a “hold” rating and set a $7.03 price target (down from $8.00) on shares of Accolade in a research report on Thursday, January 9th. Finally, Piper Sandler cut Accolade from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th.

Accolade Stock Performance

Shares of NASDAQ ACCD opened at $6.96 on Thursday. The stock has a market capitalization of $570.67 million, a P/E ratio of -3.09 and a beta of 2.18. The firm’s 50-day moving average price is $6.49 and its two-hundred day moving average price is $4.69. Accolade has a 52-week low of $3.08 and a 52-week high of $10.68. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.67.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings results on Friday, January 10th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.01. Accolade had a negative return on equity of 20.74% and a negative net margin of 40.36%. As a group, sell-side analysts forecast that Accolade will post -1.2 earnings per share for the current year.

Hedge Funds Weigh In On Accolade

Several hedge funds have recently modified their holdings of the company. Mission Creek Capital Partners Inc. bought a new stake in shares of Accolade during the 3rd quarter worth $38,000. Laird Norton Wetherby Trust Company LLC bought a new stake in shares of Accolade during the 4th quarter worth $38,000. Pallas Capital Advisors LLC bought a new stake in shares of Accolade during the 4th quarter worth $38,000. Boothbay Fund Management LLC bought a new stake in shares of Accolade during the 4th quarter worth $43,000. Finally, Wolverine Trading LLC bought a new stake in shares of Accolade during the 3rd quarter worth $51,000. 84.99% of the stock is currently owned by institutional investors and hedge funds.

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.