Truist Financial Lowers Accolade (NASDAQ:ACCD) Price Target to $7.50

Accolade (NASDAQ:ACCD) had its price target reduced by stock analysts at Truist Financial from $9.00 to $7.50 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 93.80% from the stock’s current price.

Several other equities analysts have also recently weighed in on the company. Stifel Nicolaus lowered their target price on Accolade from $13.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Guggenheim cut their target price on shares of Accolade from $13.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Barclays lowered their price target on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a report on Wednesday. Needham & Company LLC reiterated a “buy” rating and set a $8.00 price objective on shares of Accolade in a report on Monday. Finally, Canaccord Genuity Group lowered their target price on Accolade from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Accolade has a consensus rating of “Moderate Buy” and a consensus target price of $9.38.

Accolade Stock Down 0.8 %

ACCD stock opened at $3.87 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.80 and a quick ratio of 2.80. The firm has a market capitalization of $309.63 million, a P/E ratio of -3.34 and a beta of 1.99. Accolade has a 52-week low of $3.35 and a 52-week high of $15.36. The company’s 50 day simple moving average is $4.01 and its 200-day simple moving average is $5.78.

Accolade (NASDAQ:ACCD) last announced its earnings results 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 company had revenue of $106.40 million for the quarter, compared to the consensus estimate of $104.87 million. Accolade had a negative net margin of 20.62% and a negative return on equity of 20.30%. The company’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.43) EPS. As a group, equities research analysts anticipate that Accolade will post -1.11 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Accolade in the 1st quarter worth approximately $87,000. SG Americas Securities LLC acquired a new position in Accolade during the second quarter worth $43,000. GGV Capital LLC lifted its holdings in shares of Accolade by 242.9% during the first quarter. GGV Capital LLC now owns 18,063 shares of the company’s stock valued at $189,000 after acquiring an additional 12,795 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Accolade by 15.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,540 shares of the company’s stock valued at $205,000 after purchasing an additional 2,586 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted 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 valued at $73,000 after purchasing an additional 3,789 shares in the last quarter. 84.99% of the stock is currently owned by institutional investors and hedge funds.

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 technology and multimodal support from a team of health assistants and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women's health specialists, case management specialists, expert medical opinion providers, and virtual primary care physicians.